Crypto

Circle Ventures, the venture arm of the USDC issuer Circle, has invested in an offshore Chinese yuan-backed stablecoin project, CNHC. It’s hard to overlook the timing and strategic significance of the tie-up. In a matter of several years, stablecoins have grown from a fringe category into a m

An international coalition of law enforcement agencies announced on Wednesday that it had taken down the popular dark web crypto laundering service ChipMixer, seizing more than $46 million in crypto and terabytes of server data. The service, for example, was used last year by the attacker who stole

The crypto industry lost a number of banking on- and off-ramps due to the recent turmoil in the U.S. banking industry, signaling that there may be a shift in the space toward decentralization and a need for regulation going forward. Last week, Silvergate Capital, Silicon Valley Bank and Signature B

India's Enforcement Directorate is investigating “several” crypto cases for money-laundering schemes and has seized $115.5 million to date in such crimes, the Ministry of Finance said, the latest in a series of crackdown by the authorities on the nascent space that is already reelin

After USDC depegged from $1 last week, many in the crypto industry are questioning whether Silicon Valley Bank’s collapse will have bigger implications on the stablecoin ecosystem. The supposedly stable stablecoin USDC initially depegged Friday and fell as low as 88 cents on Saturday due to u

Crypto market players expressed unease on Monday following the seizure over the weekend of Signature Bank, a crypto-friendly New York regional bank, just days after crypto-focused bank Silvergate Capital wound down its operations and U.S. regulators shuttered Silicon Valley Bank. “Signature Bank&

The value of major cryptocurrencies rose Monday in the wake of U.S. government plans to protect Silicon Valley Bank and Signature Bank depositors. The Federal Reserve issued a pair of statements on Sunday with one clear message: Silicon Valley Bank's depositors, both insured and uninsured, will

Flex Yang, the former CEO and founder of Babel Finance, is leading efforts to restructure the now embattled crypto asset unicorn while introducing a new decentralized project with hopes to avoid some of the flaws of his previous venture. In light of the downfall of centralized crypto services like

Update: After publication and our first update to include Circle’s initial statement regarding USDC’s reserves, the company announced that “3.3 billion of the ~$40 billion of USDC reserves remain at SVB,” or a hair more than a third of the cash the company had previously de

Another massive crypto-centric firm bit the dust this week, leading some analysts to forecast bigger problems for the overall ecosystem. Silvergate Capital, a publicly traded crypto bank, announced Wednesday that it would “wind down operations and voluntarily liquidate” its bank division.

Meet Tweed, a startup coming out of stealth today that has been working on a white-label cryptocurrency wallet and payment solution. With Tweed, companies can generate wallets for their users so they can buy, hold, send and spend crytpo assets without any technical knowledge. The startup raised a $

Silvergate Capital Corporation, the holding company of crypto-focused Silvergate Bank, announced Wednesday its intent to wind down operations and voluntarily liquidate the banking unit. The move came days after Silvergate shocked the industry with news that it was facing a financial crisis. The ins

As funding into web3 projects cools down during the crypto winter, startups in the space are increasingly focused on building bridges for mass adoption and exploring revenue opportunities to stay afloat. The key to driving mass adoption? Offer experiences that are so seamless that users don’t

For crypto exchange giant Coinbase, 2023 is all about getting web3 into new markets and partnerships while onboarding more users into crypto. On Wednesday, Coinbase launched its wallet as a service (WaaS), a scalable set of wallet infrastructure APIs that allow companies to create and deploy custom