#cryptocurrency

According to the Federal Reserve's investigation, Silvergate Bank faced significant challenges due to its exposure to high-risk cryptocurrency deposits and ineffective upper-level management. A significant portion of the bank's deposits were sourced from crypto companies, which lacked traditional insurance and failed to generate substantial interest income.

A few months after Multichain lost approximately $125 million in assets and ceased to exist, the remaining team members have announced the launch of a new project. It was named ValueRouter, and its functionality entirely mirrors the previous application, as if nothing had changed. This provoked skepticism and dissatisfaction within the cryptocurrency community. ZachXBT, a famous blockchain detective, advised the team to take care of the lacking $125 million before taking on another questionable project.

Citing potential fraud risks, British banking titan Chase has chosen to halt cryptocurrency-related payments from October 16th. "If we think you're making a payment related to crypto assets, we'll decline it," was the message relayed to clients via email. The bank also emphasized that those intent on investing in cryptocurrencies have the liberty to switch to other banks or providers.

Ukraine's law enforcement officers are leveling up with cryptocurrency training, thanks to a collaboration between tax authorities from the US, UK, and Netherlands. This initiative aims to boost their skills in handling decentralized assets, detecting illicit transactions, and curbing tax and sanctions evasion. “Knowledge sharing is one of the priorities within these international partnerships and can contribute to greater know-how to counter cybercrime,” said the director general of the Dutch Fiscal Information and Investigation Service.