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• Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock.
• Silvergate reported a $1 billion loss in the fourth quarter and also cut its staff by 20% amid the crypto bear market and impact of FTX collapse.
• Following Friday’s news, shares of parent company Silvergate Capital (NYSE:SI) fell more than 11% in early morning trading, hitting lows of $12.55.

Crypto-friendly bank Silvergate recently announced that it has suspended payment of dividends on its series A preferred stock. The decision was due to the turbulence the company has faced in the crypto ecosystem, including a $1 billion loss in the fourth quarter and a 20% staff cut in response to the bear market and the fall of crypto exchange FTX.

The news of the suspension has had a dramatic effect on the company’s shares, with parent company Silvergate Capital (NYSE:SI) falling more than 11% in early morning trading and hitting lows of $12.55. Despite having seen a decent run of growth recently, the current market conditions have put a strain on the company’s capital reserves and shareholders are feeling the effects.

In order to ensure that the company is able to remain liquid and maintain its capital position in the face of the ongoing volatility, the Board of Directors has made the decision to suspend dividend payments. However, the board has stated that they will re-examine the payment of quarterly dividends at a later date, depending on how market conditions evolve.

Silvergate has been one of the most prominent crypto-friendly banks in recent years, providing services such as custody, payments and trading to its customers. While the current market situation has presented some challenges for the company, it remains to be seen how the situation will develop over the coming months. Hopefully, the company will be able to weather this storm and emerge in a stronger position.

• Former FTX president Brett Harrison has raised $5 million in a seed round investment for his new crypto project Architect.
• The project aims to build new institutional-grade trading technology and has been in stealth development since September.
• Investors who have backed the project include Coinbase Ventures, Circle Ventures, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel.

The crypto space has been abuzz with the news that former FTX president Brett Harrison has raised a whopping $5 million in a seed round investment for his new crypto project, Architect. The project, which has been in stealth development since September, aims to build new institutional-grade trading technology for the crypto markets.

Brett Harrison, who formerly led the US division of the popular crypto exchange FTX, is the founder of Architect. The announcement made on Friday stated that a number of top venture investors within the crypto space had backed the project, including Coinbase Ventures, Circle Ventures, SALT Fund, Third King Venture Capital, Motivate Venture Capital and SV Angel. SkyBridge Capital’s Antony Scaramucci has also invested in the new crypto software project.

The newly launched project, Architect, is building a decentralized finance (DeFi) platform which will provide traders and institutional investors access to the crypto markets. As part of the project, a number of products are being developed which will streamline the process of trading crypto assets. These products include a trading protocol, a liquidity aggregator, a portfolio management tool, and a risk management system.

The mission of the project is to provide a secure and reliable platform for trading digital assets. According to Harrison, Architect will focus on providing a suite of products for both retail and institutional investors on the platform. The hope is that these products will provide a more secure, efficient and cost-effective way to trade digital assets.

In addition to its financing round, Architect has also announced a strategic partnership with the blockchain infrastructure startup, Solana. This partnership will allow Architect to utilize Solana’s technology to further streamline the trading of digital assets.

Overall, the launch of Architect is a major step forward for the crypto space. With its secure platform and suite of products, users are sure to have a more efficient way to trade digital assets. With the backing of some of the biggest names in the industry, it’s no surprise that Architect has already made a big splash. We’ll be sure to keep an eye on the project and how it continues to evolve in the future.

-Crypto.com CEO Kris Marszalek has announced that the company is laying off 20% of its staff due to negative economic developments.
-This comes days after Coinbase announced similar layoffs.
-The Cronos (CRO) token price has responded positively to the news.

Kris Marszalek, the co-founder and CEO of Crypto.com, announced today that the company is reducing its global workforce by approximately 20%. This decision comes after negative economic developments have taken place in the industry and the market conditions have been poor.

The news of the layoffs comes days after Coinbase, another cryptocurrency company, announced their own layoffs. While it is uncertain how many people will be affected by the Crypto.com layoffs, sources estimate that it is about 700 to 900 people out of the 3500 to 4500 employees the company currently has.

The news of the layoffs has sent mixed signals in the market. This is because the cryptocurrency market is currently on a recovery trajectory and investors were expecting more positive news. However, despite the layoffs, the Cronos (CRO) token price has responded positively to the news. This could be an indication that investors are still confident in the company and its future prospects.

The decision to lay off workers is one that is not taken lightly and it is understandable why the company would have to take such drastic measures in order to remain competitive and viable. This is especially true in the cryptocurrency industry where competition is fierce and regulations are constantly shifting. Despite the layoffs, the company remains committed to providing its customers with the best possible experience and will continue to invest in its products and services.

It remains to be seen how the layoffs will affect Crypto.com and the cryptocurrency industry as a whole. However, the company is confident that the market will continue to improve in the near future and that it will be able to weather the storm. In the meantime, the company will continue to focus on providing its users with the best possible experience and will remain dedicated to its mission of making cryptocurrency accessible to everyone.

• Bonk is a meme coin that has recently become popular in the financial industry.
• The token’s price recently surged to a high of $0.0000036 and its market cap rose to more than $200 million.
• Investors should be aware of an upcoming crash as history suggests that meme coins tend to implode soon.

The cryptocurrency industry has been abuzz in recent months with the rise of meme coins. Tokens like Dogecoin, Shiba Inu, Tamadoge, Dogelon Mars, and Floki Inu have all experienced massive price surges and made headlines in the process. But the most recent addition to this list is the meme coin Bonk, which was created on Christmas Day with the goal of becoming the Shiba Inu equivalent of Solana.

The token has managed to capture the attention of most traders and investors. In the past 24 hours alone, the total volume of the token traded in centralised exchanges rose to $152 million. Furthermore, it has become popular in Solana Dex platforms like Orca and Saber. The token’s price surged to a high of $0.0000036, which was dramatically higher than its all-time low. According to CoinMarketCap, the meme coin’s market cap surged to more than $200 million.

But investors should be aware of a looming crash. History suggests that meme coins tend to implode soon after they have had their moment in the spotlight. For example, tokens like Tamadoge, Saudi Shiba Inu, and Dogelon have all been forgotten after their respective price surges. Therefore, it is important for investors to be aware of the risks associated with investing in meme coins and not get swept away by the hype.

In conclusion, Bonk has managed to capture the attention of most traders and investors. The token’s price has surged to a high of $0.0000036 and its market cap has risen to more than $200 million. However, investors should be aware of an upcoming crash as history suggests that meme coins tend to implode soon. Therefore, it is important for investors to understand the risks associated with investing in meme coins and to avoid getting caught up in the hype.

• More and more people are linking their businesses to cryptocurrencies as there are various companies that have ventured into creating infrastructure for the crypto industry.
• The most popular area of application of cryptocurrency is the sphere of gambling on the Internet. Both online casinos and bookmakers can make payments in bitcoins and other tokens.
• In 2023, it is likely that other markets such as retail, finance, and banking, will also switch to the use of cryptocurrency.

The cryptocurrency market has experienced significant growth in recent years, and many global companies are now showing an interest in digital assets. In 2021, the market saw an influx of investment from companies that firmly believe in the future of cryptocurrency and its potential to revolutionize the way we do business. This has led to more people wanting to transfer their businesses to tokens as they recognize the advantages of using them.

Cryptocurrency is particularly popular in the online gambling industry. Both online casinos and bookmakers accept payments in bitcoins and other tokens due to the speed of payments and minimal commissions or complete lack thereof. Customers can instantly top up their accounts and withdraw winnings, and there is no need for verification.

It is likely that other markets such as retail, finance, and banking, will also switch to the use of cryptocurrency in 2023. The benefits of using digital currency include reduced transaction fees, increased security, and improved efficiency. This will likely lead to more businesses being attracted to the industry and more people using cryptocurrencies in their daily lives.

Retailers will benefit from cryptocurrency payments as they will be able to accept payments from customers all over the world without having to worry about currency conversions or exchange rates. This will also lead to improved customer service as customers will be able to pay with their preferred form of payment.

In the banking sector, the use of cryptocurrency could lead to faster and more secure transactions. Banks will no longer need to worry about the inconvenience of long processing times and the risk of fraud. Furthermore, the use of digital currency could also increase transparency and reduce the cost of doing business.

Finally, the finance sector could benefit from the use of cryptocurrency as it could help to reduce the risk of fraud and increase liquidity. This will also lead to more efficient markets, as investors will be able to move funds quickly and securely.

Ultimately, the use of cryptocurrency is likely to continue to grow in the coming years as more companies and individuals recognize the benefits it can bring. It is likely that more markets will switch to the use of digital currency in 2023, and this could lead to an explosion in the use of cryptocurrency around the world.