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On April 19, 2023, Superintendent Adrienne Harris appeared before a U.S. Congressional committee on digital assets, financial technology, and inclusion to refute claims that Signature Banks failure was related to its cryptocurrency involvement. Harris explained that the banks downfall resulted from customers from various sectors, including fiduciary trusts and wholesale food vendors, withdrawing funds during a panic caused by the collapse of Silicon Valley Bank on March 12, 2023.

Despite the banks connections with cryptocurrency, Harris emphasized that its failure was not due to its exposure to the digital asset sector. Regulators feared continued contagion in the banking sector and closed Signature Bank to contain the panic. The run on the banks deposits prompted regulatory action, but Harris clarified that cryptocurrency was not the cause of the banks demise.

On April 19, 2023, SI stock opened at 1.51, a decrease of 0.02 from the previous close of 1.53. Throughout the day, the stock fluctuated between a low of 1.50 and a high of 1.65. The volume of trading for the day was 4,019,317.

As of April 19, 2023, the market cap of SI was $48.4M. The earnings growth for the past year was -1,118.81%, and for this year it was -91.60%. The earnings growth for the next five years is expected to be positive at 6.00%. The revenue growth for the past year was -398.40%.

The P/E ratio for SI is 0.4, which is significantly lower than the industry average. No data is available for the price/sales or price/book ratios. Additionally, there are no competitors data available for SI.

The following reporting date for SI is April 24, 2023. The EPS forecast for this quarter is -$0.14. SI operates in the finance sector and is a regional bank.

On April 19, 2023, Silvergate Capital Corp (SI) stock saw a significant increase in its median price target, with two analysts offering a 12-month forecast of $12.50. This represents a staggering 671.60% increase from the last recorded price of $1.62. The high estimate of $16.00 and a low estimate of $9.00 suggest a wide range of potential outcomes for the stock.

Despite the optimistic price target, the current consensus among one polled investment analyst is to sell SI stock. This rating has held steady since March, indicating a lack of confidence in the companys prospects.

Considering SIs financial performance, the company is set to report its earnings on April 24, 2023. The current quarters earnings per share are forecasted to be -$0.14, indicating a loss for the company. However, sales are expected to be $23.7 million, suggesting the company is still generating revenue.

Overall, SIs stock performance on April 19, 2023, suggests a wide range of potential outcomes for the company. Investors should keep an eye on SIs upcoming earnings report to better understand the companys financial health and potential for future growth.

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Superintendent Refutes Claims of Cryptocurrency Involvement in ... - Best Stocks

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Cryptocurrency roundup for April 18: Ether prices reach 11-month high despite concerns over Shapella... - Moneycontrol

As per reports, on April 17, 2023, Chicago Mercantile Exchange(CME), a cryptocurrency platform group mentioned that it will expand its range of cryptocurrency choices by including new options and Ether and lesser valued Bitcoin, stated Cointelegraph. Reportedly, these new crypto contracts will be available from May 22, 2023.

As reported by Cointelegraph, CME will be expanding its cryptocurrency options and including new expiry dates, which might provide the users with flexibility and also help them to manage a short-term practice. It is expected that the addition of micro-sized Bitcoin and Ether future contracts will supplement the current monthly and quarterly expires, added Cointelegraph.

Sources revealed that earlier the CME Group had launched euro-dominated Bitcoin (BTC) and Ethereum futures while the value of the euro was equal to the United States dollar, Cointelegraph concluded.

(With insights from Cointelegraph)

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Chicago Mercantile Exchange to add new cryptocurrency options: Report - The Financial Express

Since cryptocurrencies inception, different projects seem to have entered the scene. Amidst all of them, Polkadot (DOT) supposedly has garnered attention in last couple of years for benefitting decentralised applications (dApps). Its believed that DOTs backing of interoperability can also develop Web3.0 features.

According to Dot Insights, a DOT ecosystem map, DOT witnessed a nearly tenfold increase in its count of daily new accounts, along with a 300% rise in active accounts. Messari, a crypto-based platform, stated that DOT clocked $7.9 billion by the end of Q2, 2022. The platform also stated that during the same period, DOT averaged 145,000 monthly users. I believe DOT is a blockchain that aims to address scalability, interoperability, and governance challenges the cryptocurrency landscape faces. DOT can play a role in shaping the decentralised finance (DeFi) landscape, Shrikant Bhalerao, co-founder, Seracle, a Blockchain-as-a-Service (BaaS) platform, told FE Blockchain.

Market research has shown that DOTs governance model carries potential to provide a community-backed outlook towards DeFi. Insights from GOBankingRates, a personal finance website, highlighted that DOT is gaining attention from investors due to being synergic in nature. Experts believe that allowing DOTs infrastructure permits users to connect other blockchains to give birth to completely new blockchains. From what its understood, a long-term approach towards DOT can help reap return on investment (ROI), as its considered to be at nascent stage.

Overall, interoperability is considered a factor in unlocking the potential of Web3.0 technologies, and Polkadots multi-chain architecture aims to provide a solution to achieve this goal in various sectors, Aahan Dogra, co-founder, NoCap Meta, a Web3.0 company, mentioned.

On the day of writing of this story (12.21 pm, Indian Standard Time), CoinMarketCap, a cryptocurrency tracking website, stated that DOT was trading around $6.80 at a market capitalisation of just over eight billion dollars. As mentioned by changelly blog, a crypto blog, DOTs maximum price prediction is $9.95 for 2023, $14.68 for 2024, and $20.56 for 2025. Reportedly, companies such as Labrys, Prolitus Technologies, Bloq, Somish Blockchain Labs, Blaize, among others, have entered the framework of providing DOT development services.

Moreover, future predictions indicate that DOTs expanding landscape around parachains, dApps, and projects signify that its mainstream adoption is not far away. Looking ahead, Polkadots future as a cryptocurrency looks promising. As use cases and applications are developed for the Polkadot network, its value and importance in the cryptocurrency landscape should grow, Sathvik Vishwanath, co-founder and CEO, Unocoin, a cryptocurrency exchange, concluded.

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Is Polkadot (DOT) cryptocurrency the need of the hour - The Financial Express

By Luc Cohen and Jonathan Stempel

NEW YORK (Reuters) -U.S. prosecutors on Tuesday unveiled a new indictment against Sam Bankman-Fried, accusing the founder of now-bankrupt FTX cryptocurrency exchange of conspiring to bribe Chinese government officials with $40 million worth of payments.

Federal prosecutors in Manhattan charged Bankman-Fried with directing the payment in order to unfreeze accounts belonging to his hedge fund, Alameda Research, that Chinese authorities had frozen. The accounts held more than $1 billion of cryptocurrency, U.S. prosecutors said.

The accounts were unfrozen after the bribe payment was transferred around November 2021 from Alameda's main trading account to a private cryptocurrency wallet, according to the new indictment.

After the accounts were unfrozen, Bankman-Fried authorized a transfer of tens of millions of dollars of additional cryptocurrency to complete the bribe, prosecutors said.

The new charge increases the pressure on the 31-year-old former billionaire, who had previously pleaded not guilty to eight counts over the collapse of FTX. Prosecutors say Bankman-Fried stole billions of dollars in customer funds to plug losses Alameda.

Lawyers for Bankman-Fried did not immediately respond to a request for comment. Bankman-Fried has acknowledged inadequate risk management at FTX, but has denied stealing money.

China's foreign ministry could not immediately be reached after normal business hours in Beijing.

U.S. District Judge Lewis Kaplan scheduled a court hearing for Thursday after prosecutors asked for Bankman-Fried to be arraigned on the new, 13-count indictment.

Prosecutors last month unveiled four new counts against Bankman-Fried, accusing him of orchestrating an illegal campaign donation scheme to buy influence in Washington, D.C. He has not yet been arraigned on the new charges.

The new count accuses Bankman-Fried of conspiring to violate the Foreign Corrupt Practices Act (FCPA), which makes it illegal for U.S. citizens to bribe foreign government officials to win business.

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Bankman-Fried is currently confined to his parents' Palo Alto, California home on $250 million bond ahead of his Oct. 2 trial.

On Monday, his lawyers and prosecutors reached a new agreement on revised bail conditions, after Kaplan raised the prospect of sending Bankman-Fried to jail pending trial. That came after prosecutors raised concerns he may have been tampering with witnesses.

(Reporting by Luc Cohen and Jonathan Stempel in New York; editing by Jonathan Oatis, Nick Zieminski and Noeleen Walder)

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FTX's Bankman-Fried charged with bribery conspiracy in new indictment - Yahoo Finance