Silvergate Bank has announced that it will delay the filing of its annual 10-K report, which has sent its stock price down over 30% after hours. A 10-K report is a document required by the Securities and Exchange Commission which provides a comprehensive overview of the company's business and financial condition. The crypto bank stated that it would need an additional two weeks to complete the report for the 2022 fiscal year. Silvergate explained in its late filing notice that it sold additional debt securities in January and February and expects to record further losses in the coming months. "These …

The Reserve Bank of Australia (RBA), the country's central bank, has released a report outlining use case proposals for its Central Bank Digital Currency (CBDC). The RBA said on Mar. 2 local time that financial industry participants were also chosen to implement the chosen use cases and were invited to participate in a live pilot that is to take place over the coming months. The use cases proposed by the RBA included offline payments, tax automation and a CBDC for "trusted Web3 commerce." The selected partners for the use case trial ranged from banks, such as Commonwealth Bank and Australia …

Chiliz, a global company that deals with blockchain for sports and entertainment, has launched its incubator and accelerator program, Chiliz Labs, with the support of Jump Crypto. The $50 million program intends to invest in early-stage blockchain projects that leverage the Chiliz blockchain for sports and entertainment and the Socios.com partner network. We are pleased to announce the launch of our $50M USD incubator and accelerator programme Chiliz Labs! Backed by @jump_ Chiliz Labs will foster viable and innovative early-stage blockchain projects looking to leverage the new Chiliz blockchain. ⚡️ $CHZ — Chiliz ($CHZ) - Powering Socios.com ⚡ (@Chiliz) March …

Provenance Blockchain Foundation has announced a $50 million grant program for blockchain developers to support the development of regulated financial services on blockchain. The grant program promise to award $50 million in HASH, which is the native token on Provenance Blockchain, to developers who build core services and experiences that enable the full digitally-native lifecycle of regulated financial assets on blockchain technology. Developers will be evaluated based on a range of factors, including their ability to contribute to asset perfection, asset origination, on/off ramps, security, compliance, wallets, identity, developer tools, and new financial asset use cases. All projects that are …

Attacks on bridge technology in 2022 led to the theft of $2.5 billion from decentralized finance (DeFi) protocols, according to a report by Token Terminal. While this could have been a setback for many projects and, thus, for the crypto space, it seems to be fueling infrastructure and security developments. At the ETH Denver 2023, Web3 protocol Koii Labs and software company Idexo announced a new middleware bridge to advance deployments on-chain with "just a few lines of code," Cointelegraph exclusively learned from the teams. The solution aims not only to improve security and speed up deployments, but also to …

Coinbase CEO Brian Armstrong has attempted to quell speculation that his exchange’s staking products should be classified as securities — upping the ante in the ongoing debate around crypto regulations with the United States Securities and Exchange Commission, or SEC. In a televised interview with Bloomberg on March 1, Armstrong said, “Our staking product is not a security,” referring to cryptocurrencies that can be staked directly on the exchange to generate yields. He continued: “Customers never turn their assets to Coinbase for instance. And we really just are providing a service that passes through those coins to help them participate …

Opportunity cost, explained Opportunity cost is a concept in economics that refers to the value of the next best alternative that is forgone when making a choice — i.e., the cost of the best alternative that is not chosen. Consider the scenario when you have a limited budget and are debating between buying a new laptop or going on vacation. The value of the vacation you could have taken with the same amount of money would be the opportunity cost if you decide to buy the laptop. Similarly, if you decide to take the vacation, the opportunity cost would be …

2022 was a rather challenging year for the crypto sector, and the prevalence of Ponzi schemes, decentralized finance scams, nonfungible token rug pulls and questionable centralized exchange bookkeeping put the issue of ethics in the space on blast. Of course, the negative news of last year wasn’t an outlier or a one-off — generally, “good” ethics have been an issue in crypto for years, and it’s probably safe to assume that challenges will continue to dot the landscape for the foreseeable future. Within the context of media, it’s important to recognize that objective, unbiased news reporting and transparency are paramount …

The founders of the troubled cryptocurrency lender Hodlnaut are trying to save the business despite creditors insisting on its liquidation. On Feb. 28, Hodlnaut’s interim judicial managers released the sixth affidavit of Hodlnaut co-founder Simon Lee reportedly stating the company’s founders proposed selling the business as a better option for creditors than liquidating the firm. According to a report by Bloomberg, Lee said that he and Hodlnaut’s other co-founder Zhu Juntao have reached out to a number of “potential white knight investors.” Lee reportedly wrote that Hodlnaut co-founders are confident the company’s user base “can be acquired and on-boarded on …

Crypto ATMs — one of the key infrastructure pillars for the mass adoption of cryptocurrencies — have seen a drastic reduction this year. In the first two months of 2023, the net cryptocurrency ATMs installed globally reduced by 412 machines. Since 2014, the total number of crypto ATMs maintained a steady upward trajectory while catering to millions of users worldwide for seamless crypto-fiat conversions. For ov a year, between December 2020 to January 2022, more than 1000 crypto and Bitcoin (BTC) ATMs were being installed every month. However, the bear market had an immediate impact on its growth. September 2022 …

Jack Dorsey, co-founder of the online microblogging service Twitter, is progressing with Bluesky, a decentralized Twitter alternative, as its mobile application is now being tested in private beta. Bluesky has hit the App Store as an invite-only app, allowing certain persons to try out the new social experience by creating an account via an invite code. According to a report by TechCrunch, the Bluesky iOS app debuted on Feb. 17 and has amassed about 2,000 installs as of Feb. 28. The app is reportedly not yet available for Android testers on Google Play. As one can see on Bluesky’s App …

A cryptocurrency researcher and former CIA analyst believes the United States government’s relatively slow start on Central Bank Digital Currency (CBDC) development may result in it losing grip on controlling the global financial system. Yaya Fanusie, the policy head at the crypto advocacy group the Crypto Council for Innovation explained in a Feb. 28 Bloomberg interview that sanctioned states are looking to transact on financial infrastructure that isn’t controlled or heavily influenced by the U.S. in order to move funds more freely cross-borders. If the U.S. continues to sit on the “sidelines” and lag behind on CBDC adoption, Fanusie believes …