October 3, 2023
• South Korean prosecutors are attempting to arrest Terraform Labs co-founder Daniel Shin on charges of fraud, illegal fundraising and violating capital market laws. • Previous attempts to arrest him were unsuccessful as a court refused to grant an arrest warrant due to lack of evidence of flight risk. • Following the confirmation of Do
READ MORE• SVB Financial Group, the parent company of Silicon Valley Bank, has filed for bankruptcy protection. • The filing was submitted in the Southern District of New York and aims to preserve company value. • Customers will receive funds via FDIC insurance and an emergency plan from the Biden administration and U.S. Treasury. Filing for
READ MORESummary: • Unemployment rate rose to 3.6% in the U.S., with Bitcoin breaking above the $20k level immediately afterwards. • Markets are now favouring a 25 bps interest rate increase at the upcoming FOMC meeting, with a terminal rate of 5.50%. • The U.S. Dollar has retreated to 104.8, leading to an uplift on major
READ MORE• Coinbase has dropped Silvergate as its payment partner and urged Prime users to update their payment instructions to Signature Bank. • This move led to a 44% decrease in Value of Silvergate shares (SI). • U.S Department of Justice is currently investigating Silvergate for its role in the FTX collapse. Coinbase Severs Payment Partnership
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