Digital Currency Group Invested in Silvergate Bank

Silvergate Bank offered bank accounts to cryptocurrency startups
27 February 2018   757

Specializing in venture capital investments in the cryptocurrency Digital Currency Group (DCG) has confirmed the financing of Silvergate Capital Corporation, the leading company of Bitcoin-friendly Silvergate Bank. This is reported by CoinDesk.

We are very pleased with the outcome of our private placement, which generated broad based support from both traditional bank investors and other strategic investors. Our greatly increased capital base will support our growth and enable us to continue making investments in technology and people that will improve efficiency and productivity, and expand the products and services offered to our business customers.

Alan Lane

CEO, Silvergate

 According to Silvergate, the company raised $ 114 million through the sale of 9.5 million shares through private placement. These funds will be used to further support the bank's initiatives in the field of fi ntekh.

Although Silvergate did not name the names of investors, DCG head Barry Silbert confirmed the firm's participation in the round of financing. The amount allocated by DCG is also not specified.

US Authorities to Sell $4.3M Worth Seized BTC

As reported, the Bitcoins were seized during different federal investigations
18 October 2018   100

The US Federal Penitentiary and Marshals Service has announced an auction, during which 660 Bitcoins will be sold, previously confiscated by law enforcement agencies. The current market value of the coins put up for sale is about $ 4.3 million, CoinDesk reports.

Bitcoins offered for sale were seized during federal criminal, civil and administrative investigations.

The auction will be held on November 5, and to participate in it, you must register no later than October 31 and make a deposit of $ 200,000.

The trades will be divided into two parts and include the sale of six blocks of 100 BTC and one more block of 60 BTC. Auction participants will not be able to view other people's rates or change their own.

The Office clarified that part of the assets put up for auction includes Bitcoins, which were seized during the recent investigations into the cases of the traders Teresa Tetley and Thomas Mario Costanzo. Teresa Tetley was sentenced in July to a year in prison on charges of trading in cryptocurrency without the necessary license and laundering money obtained from drug trafficking.

The Marshals do not report which part of the bitcoins seized from Tetley and Costanzo is put up for auction, however, it was previously known that 40 BTC were withdrawn from the first, and 80 BTC from the second.

Two previous major auctions for the sale of confiscated bitcoins were held in the United States in January and March of this year. In the first case, 3813 BTC was sold, in the second - 2170 BTC.