Silicon Valley Bank’s Troubles: What It Means for Crypto

• Silicon Valley Bank is facing huge liquidity issues due to U.S. interest rate hikes • This poses a significant risk to the crypto industry, especially crypto-friendly venture capital firms • Crypto VCs are already advising portfolio companies to withdraw funds from the troubled bank Silicon Valley Bank’s Troubles Silicon […]

MuchBetter Crypto Card Suspended, Customers Outraged as Withdrawals Bounce Back

• MuchBetter, an electronic payment system, suspended services due to money laundering investigations of its card issuer. • European customers reported unsuccessful attempts at cashing out funds, including through crypto withdrawals. • Sanctions from the US Treasury Department on all MIR cards in 2022 punished Russia for invading neighboring Ukraine. […]