- Silvergate Bank will gradually wind down operations and voluntarily liquidate in an orderly manner, including full repayment of all deposits, in accordance with applicable regulatory procedures.
- Crypto payroll compliance company Toku has completed a $20 million Series A funding round, with investors including Blockchain Capital and GMJP.
- Vitalik Buterin’s fund has donated $15 million USDC to the University of California, San Diego for research into airborne pathogens.
- Rostin Behnam, Chairman of the U.S. Commodity Futures Trading Commission (CFTC), stated that if Congress does not pass comprehensive digital asset regulation, fiat-based stablecoins will be treated as commodities.
- The Japanese financial regulatory agency has filed an administrative lawsuit against FTX Japan, demanding that it retain domestic assets by June 9.
- Mt. Gox’s largest creditor, Mt Gox Investment Fund, plans to hold rather than sell the bitcoins it will receive as compensation this year. The fund chose to receive early payment in September rather than wait for all lawsuits to be resolved. It will receive 90% of Mt. Gox’s remaining assets, approximately 70% in bitcoin and 30% in cash.
- Investors who shorted Silvergate have made nearly $800 million in profit.
- President Biden may propose changing the tax treatment of crypto transactions to raise $24 billion.
- Coinbase has launched a “wallet-as-a-service” business that combines multi-party computing and allows companies to customize blockchain wallets for their clients.
- Multi-chain DeFi management protocol Instadapp has launched the Avocado smart contract wallet.
- the deadline for filing a claim for compensation in the Mt. Gox case has been extended to April 6th.