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Silvergate CEO calls out 'short sellers' spreading misinformation

In the statement, Lane also took the opportunity to "set the record straight” about its investment relationship with FTX and the firm's “robust risk management approach.” Silvergate Capital CEO Alan Lane has slammed “short sellers” and “other opportunists” for spread ing misinformation over the last few weeks — just to score themselves a quick buck.  In a Dec. 5 public letter, Lane said there was “plenty of speculation – and misinformation ” being spread by these parties to “capitalize on market uncertainty” caused in part to FTX’s catastrophic collapse in November. His crypto-focused bank was recently forced to deny one of these so-called FUD (fear, uncertainty and doubt) campaigns last week when there was speculation that the firm was exposed to the bankrupt crypto lender BlockFi. Lane also used the latest letter to the public as an “opportunity to set the record straight” about its investment relationship with FTX, as well as the company’s “robust risk management approa

India's Central Bank Digital Currency Should Be Able to Do Anything Cryptocurrency Can Do With No Risk, Official Claims

An Indian central bank official claims that if there is anything cryptocurrencies like bitcoin and ether can do, the Reserve Bank of India (RBI) should be able to create a product that will do the same job without the associated risks. “This is essentially what we are doing in the CBDC experiments,” he stressed. RBI Official on Cryptocurrency vs Digital Rupee Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar talked about crypto currency and central bank digital currency (CBDC) Friday at an event organized by the Indian Banks’ Association (IBA). “We saw an environment where private currencies were evolving. We realized that this poses a threat to investors, systems, and the economy. We also realized that private currencies have shown that digitalizing currency can possibly benefit,” the RBI official said. “The way to deal with it was to provide a digital currency .” Referring to non-government-issued cryptocurrencies, including bitcoin and ether, as “private” cryptocurre

IMPT Presale Raises $14 Million- Last Chance To Buy

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Join Our Telegram channel to stay up to date on breaking news coverage The IMPT.io project has had remarkable success so far, raising over $14 million in just two months of the presale. It just took 20 days for the first phase of the presale to be concluded. Investors are constantly flocking towards the token since they believe it has the potential to grow 10x in the future. The token will be listed on multiple exchanges with the first being the popular decentralized exchange Uniswap where the token will go live on 14th December. Following this, the token will be listed on LBANK Exchange and Changelly Pro which together have a combined 24-hour trading volume of over $2.5 Billion. This opens IMPT up to a significantly large potential market, helping it make impressive gains once it gets listed. In addition to this, IMPT is an ERC-20 token which makes it compatible with the Ethereum blockchain- which already hosts hundreds of tokens. This property makes it convenient for users t

Play-to-Earn Crypto Game Set to Disrupt Gaming Market – How to Buy Early?

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Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. RIA is a star in blockchain gaming, with its fundamentals looking incredibly attractive. As the asset's presale nears its end, here's how new investors can purchase it. Calvaria - Crypto Gaming's Next Disruptor  RIA is the native token for Calvaria. The game, which is already in development, provides a proper mix of the metaverse and non-fungible tokens (NFTs) while also employing the play-to-earn (P2E) model to ensure that players can easily earn profits.  In Calvaria, players are transported to a metaverse environment where they can purchase NFT trading cards. These cards represent specific characters, all of which have unique traits and characteristics. The game's objective is for users to use these trading cards to build decks and battle other players in the virtual world. All NFTs available in Calvaria

1,200 Bitcoin Worth $20M Moved from Dormant Addresses in the Past Few Days – Here’s What Happened

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Source: Adobe Stock As many as 1,200 old bitcoins from dormant addresses have moved in the days since the collapse of FTX, with activity picking up further in the past few days. Among the many old wallets that have moved coins in the days since FTX went down were two that spent a combined 348 BTC on November 29 – a stash that was once worth just $348,000. It’s tough to say exactly what the owners did with the coins, and it remains unknown if they were sold or just moved to another wallet, for example for cold storage. The 348 BTC that moved on this day is now worth around $5.8m, a huge increase in value compared to what they were acquired for. The news was first reported by Bitcoin.com, using blockchain data and compilations from btcparser.com. A second noteworthy transaction on the same day was a 173.61 BTC transaction from an address that have been dormant since June 14, 2017, as well as a 100 BTC transaction from an address from April 12, 2014. Out of those two t

Litecoin eyes $100 after 'rare' LTC price breakout

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MoneyGram's decision to integrate Litecoin into its crypto services and the coin's upcoming halving event has served as catalysts behind LTC's price rally. Litecoin (LTC) could rise another 20% amid a rare trend reversal breakout that has already resulted in LTC outperforming most crypto assets in recent days. LTC's not-so-bearish symmetrical triangle LTC's price broke out of what earlier appeared to be a bearish symmetrical triangle. Symmetrical triangles are trend continuation patterns, meaning breaking out of their range typically prompts the price to move in the direction of their previous trend.  Litecoin formed a symmetrical triangle pattern between May and November after dropping 70% to nearly $40 in the prior trading sessions. Ideally, the LTC/USD pair could have resolved the pattern by breaking below its lower trendline. But instead, it broke above the upper trendline in early November, as shown below. According to Edwards and Magee, the authors of Technic

ByBit Crypto Exchange to Layoff Third of Workforce Amid Ongoing Bear Market

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Source: AdobeStock / freshidea Crypto exchange ByBit is planning to cut its workforce by 30% due to poor market conditions - which are likely to worsen, said its CEO Ben Zhou. Bloomberg cited co-founder and Chief Executive Officer Zhou as saying that reductions will be across the board.  The decision is a part of "an ongoing reorganization," said Zhou, the goal of which is "refocusing efforts." The exchange's priority, he continued, is to make sure that business operations are unaffected and that client assets are safe. He was quoted as saying that, “It’s important to ensure ByBit has the right structure and resources in place to navigate the market slowdown and is nimble enough to seize the many opportunities ahead. [...] Tough times demand tough decisions.” And though the crypto winter is in full swing, ByBit's CEO suggested it could get even colder. He said that crypto prices trending lower and companies such as crypto lender BlockFi