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JPMorgan
Crypto-Friendly Silvergate Bank to Wind Down Operations
Silvergate Bank will "voluntarily liquidate" its assets and wind down operations, its holding company, Silvergate Capital (SI), said Wednesday. Bianco Research, L.L.C. President and Macro Strategist Jim Bianco discusses the latest blow to the crypto industry and its impact on the markets. Plus, his reaction to CoinDesk reporting that JPMorgan is ending its banking relationship with Gemini, the cryptocurrency exchange owned by Cameron and Tyler Winklevoss.
JPMorgan Is Cutting Ties With Crypto Exchange Gemini: Source; Celsius Bankruptcy Developments
JPMorgan is ending its banking relationship with Gemini, the cryptocurrency exchange owned by Cameron and Tyler Winklevoss, according to a person familiar with the situation. Separately, a judge ruled that Celsius Network should continue to have the exclusive right to prepare a plan for exiting bankruptcy until the end of March.
JPMorgan Is Cutting Ties With Crypto Exchange Gemini: Source
Coinbase said its banking relationship with JPMorgan remains intact.
Crypto Bank Silvergate Downgraded by JPMorgan, Canaccord Amid Doubts of Firm’s Solvency
JPMorgan cut its rating on the stock to "underweight" from "neutral" and withdrew its price target.
Coinbase Off to a Good Start in 2023: JPMorgan
One of the biggest contributors to revenue in the fourth quarter was from Coinbase’s relationship with Circle, the report said.
FTX Seeks to Reclaim $400M From a JPMorgan Account: New York Times
The funds, invested in a hedge fund called Modulo, were converted into cash and are sitting in an interest-bearing account.
Crypto Bank Silvergate Downgraded by Wall Street Banks, Moody's After Q4 Results, Shares Slump
J,P. Morgan cut its rating on the stock to neutral from overweight and slashed its price target to $14 from $30.
Centralized Crypto Exchanges Will Still Remain Dominant After FTX Collapse, JPMorgan Says
Centralized exchanges will continue to control the majority of global digital-asset trading volumes, JPMorgan said, contradicting some crypto-native experts who expect a shift toward decentralized platforms in the wake of FTX's collapse. The comments come from the bank's strategists in a note to clients. "The Hash" panel discusses the outlook for decentralized exchanges (DEXs) and DeFi adoption.
BlockFi Files for Bankruptcy; Kraken Settles US Treasury Case Over Serving Customers in Iran
Crypto lender BlockFi files for bankruptcy protection as FTX contagion spreads. JPMorgan says crypto market regulatory initiatives that are already underway are likely to be accelerated. The U.S. Treasury Department’s Office of Foreign Assets Control (OFAC) reaches a settlement with crypto exchange Kraken over serving customers in Iran.
Centralized Crypto Exchanges Will Remain Dominant Despite FTX Collapse: JPMorgan
DeFi protocols rely heavily on centralized exchanges to be able to function and it would likely take a long time until price discovery shifts from centralized to decentralized exchanges, the bank's analysts said.
