Saturday, June 22

Tag: cryptocurrency

Silvergate collapse: Crypto turmoil continues

Silvergate collapse: Crypto turmoil continues

Entertainment, Technology
Silvergate Bank Struggles Amid Crypto Turmoil, Ending Years of Stability in US Banking。 Silvergate Bank, a San Diego-based bank focused on cryptocurrency customers, is scaling back operations after a wave of customer withdrawals. The bank's woes show that the ongoing crisis in cryptocurrencies is spilling over into the regulated U.S. financial system. Silvergate's troubles also end a multi-year period without any U.S. bank failures—an unusually long stretch of stability. Silvergate's issues stem from the collapse of one of its biggest clients, the cryptocurrency exchange FTX. The FTX failure led many of Silvergate's customers to panic and withdraw funds, putting major pressure on the bank. Regulators are also worried about Silvergate's difficulties, as turmoil from cryptocurrencies b...
The Future of Cryptocurrencies: Does Scarcity Solve All Problems?

The Future of Cryptocurrencies: Does Scarcity Solve All Problems?

Learning, Technology
The rise in the price of Bitcoin and other cryptocurrencies this year, with Bitcoin surpassing $30,000 in April, highlights the growing interest and speculation surrounding these digital assets. However, it is important to recognize that the future of cryptocurrencies is influenced by a range of factors beyond scarcity alone. Scarcity, particularly in the case of Bitcoin, is often touted as one of its key features and value propositions. Bitcoin's total supply is capped at 21 million coins, which means there is a finite amount available, creating a sense of scarcity. This scarcity is achieved through the design of the cryptocurrency's underlying technology, specifically the blockchain and its consensus mechanism. The concept of scarcity is not unique to Bitcoin. Many other cryptocurr...