PROS AND CONS: Silvergate Bank, one of the few U.S. banks openly serving the crypto industry, added 48 new crypto clients in the last three months of 2019. However, deposits and fee income from those clients dropped, according to an earnings report. Full story
MET TOO: An investor presentation from Metropolitan Commercial Bank tells a similar tale. The bank’s deposits from digital currency businesses have declined over the past year, a sign competition is heating up in a field where the bank was once one of the only games in town. Full story
5-STAR FLOOD: The OneCoin cryptocurrency project – accused by authorities of being a Ponzi scheme – may have attempted to counter negative news by using "inauthentic" accounts to place large numbers of favorable reviews on TrustPilot and Quora, according to new research. Full story
BODY CHECK: Lawyers representing former users of the QuadrigaCX exchange are doubling down on a formal request to exhume deceased founder Gerald Cotten’s body. The lawyers seek to confirm Cotten’s cause of death and whether his body is indeed in the grave, following his mysterious death in 2018. Full story
RAISING THE STAKES: Binance US has added staking rewards for the cryptocurrencies algorand (ALGO) and cosmos (ATOM). With the addition, the exchange now joins Kraken and Coinbase in offering staking rewards on PoS coins. Full story
$10K NEXT? Backed by bullish longer-duration technical indicators, bitcoin cleared the key 200-day average hurdle on Tuesday, strengthening the case for a rally to $10,000. The bull case would weaken if prices drop below the 200-day average of $8,894 with strong volumes. Full story
HIGH STAKES: On the latest episode of The Breakdown podcast, Catherine Coley, CEO of Binance US, talks with Nathaniel Whittemore about the exchange's addition of staking rewards, and what that means for the industry at large. Listen in
Banking on crypto