• Silvergate Bank is preparing to submit a shutdown plan in the coming days after receiving an order from the Federal Reserve.
• Elon Musk’s Twitter-to-Doge logo switch is being used as evidence in a lawsuit.
• Google and Microsoft are investing in AI startups as competition for dominance heats up, while daily CEX crypto trade volume sinks to lows last seen in 2020 and USDT market cap sets a new all-time high despite regulatory concerns.
Silvergate Bank Shutdown Plan
Silvergate Bank is set to submit a proposed shutdown plan within the next few days after receiving an order from the Federal Reserve. This move comes as part of the bank’s efforts to comply with regulatory requirements.
Elon Musk Logo Switch Used As Evidence
Elon Musk’s switch of his Twitter profile picture to the Dogecoin logo has been raised as evidence in a lawsuit against him. The plaintiff alleges that this move was done with intent to manipulate cryptocurrency prices, which they claim caused them losses.
Google & Microsoft Invest In AI Startups
As competition for dominance between tech giants continues to heat up, Google and Microsoft have both invested heavily into AI startups recently. These investments are aimed at furthering their respective artificial intelligence capabilities, with Google reportedly leading the pack on these efforts.
Daily CEX Crypto Trade Volume Sinks To Lows Last Seen In 2020
According to data from Kaiko, daily trade volume from centralized exchanges (CEX) has sunk to levels last seen in late 2020. This comes despite Bitcoin recapturing $20,000 at the end of that bear cycle – signaling the start of the last bull phase – indicating widespread apathy across markets currently.
USDT Market Cap Sets New All-Time High Despite Regulatory Concerns
Despite ongoing regulatory concerns surrounding Tether (USDT), its market capitalization has reached an all-time high recently – surpassing $70 billion for the first time ever. This suggests that there is still strong demand for USDT despite its recent legal issues and increased scrutiny by authorities worldwide.