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Crypto Evening Briefing: Silicon Valley Bank's Parent Company Files for Bankruptcy

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Swiss Bankers Association Proposes Joint Deposit Token

In a recently published white paper, the Swiss Bankers Association (SBA) proposed the issuance of a joint deposit token on a public blockchain.

Signum Digital Says It Won First Approval To Offer Security Tokens in Hong Kong

Signum Digital, a joint venture of digital asset consultancy firm Coinstreet Holdings and Hong Kong-based financial group Somerley Capital Holdings, is the first company to win approval-in-principle in Hong Kong to operate a platform to trade security tokens, according to a Signum press release.

Crypto Assets To Become a Separate Category in the UK Tax Forms

As Great Britain is gradually moving to its own comprehensive crypto framework, the Treasury introduces a separate category for crypto assets into the tax return forms. The particular line should appear in the tax forms in 2024-25. 

Genesis Requests Timetable for Sale, Creditor Claims

Bankrupt lender Genesis has requested a May 22 deadline for creditors to say how much they are owed by the company, and June 27 for an auction, according to bankruptcy court filings dated Thursday. Bidders considering buying Genesis would have to show interest by May 5.

Silicon Valley Bank's Parent Company Files for Bankruptcy

Silicon Valley Bank's parent company SVB Financial Group (SIVB) has filed for Chapter 11 bankruptcy protection. The company said on Friday it had filed for court-supervised reorganization in the United States Bankruptcy Court for the Southern District of New York to preserve value.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $26,602.60 USD, jumped by 7.98% in the last 24 hours;

ETH’s live price is $1,741.75 USD, jumped by 5.91% in the last 24 hours;

BNB’s live price is $334.03 USD, jumped by 7.87% in the last 24 hours;

XRP's live price is $0.3750 USD, jumped by 4.02% in the last 24 hours.

Fundraising News

Africa-Focused Venture Capital Firm Echovc Launches Blockchain Fund

The pan-African venture capital firm, Echovc, recently said it had launched an $8 million fund which is dedicated to Africa’s blockchain startups. According to the company’s blog post, the fund known as the Echovc Chain will be accessible to startups that are attempting to solve the continent’s challenges using the blockchain.

BRAVO READY Announces Strategic Investment From Aptos

BRAVO READY, creator of BR1: INFINITE, the world's first pay-to-spawn, kill-to-earn shooting game, today announced a new strategic investment from Aptos Labs, which will be used to launch ‘Aptos Arena’, an exclusive game collaboration between the two studios, and future Aptos integrations with BR1: INFINITE.

Bitcoin Bitcoin $69,209.98
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Africa Hong Kong UK bankruptcy Silicon Valley Bank Banking Crisis
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