News list for " closed plus"
South Korea will set up a digital asset user protection fund to help users affected by the collapse of crypto exchanges recover trapped funds. The fund, initiated by self-regulatory organization DAXA and approved by the South Korean Financial Services Commission (FSC), is scheduled to launch in October. With 10 of South Korea's 22 crypto exchanges closed and another three suspended, the safety of user funds has become a key concern. The fund will negotiate with the failed exchanges to transfer u...
On September 23rd, in a new bankruptcy filing, the executive responsible for closing the parent company of crypto-friendly bank Silvergate Bank said that despite the shrinking cryptocurrency industry and rising interest rates, the bank has stabilized, is able to meet regulatory capital requirements, and has the ability to continue to hold deposits for those Client Servers. However, in 2023, "sudden regulatory changes" by agencies such as the Federal Reserve, the Federal Deposit Insurance Corpora...
