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OTCbid - US bank suffers losses and job cuts after $11.6 billion in crypto withdrawals




















" Past data show that we are approaching one of the best times to buy Bitcoin.







" The cryptocurrency crisis has hit yet another operator, with it having to scramble to sell off assets to stay afloat as well as laying off hundreds of staff.

A US bank has been forced to sell off assets and cut staff after it saw $US8 billion ($A11.6 billion) worth of cryptocurrency withdrawn by customers.

Silvergate, a bank which offers cryptocurrency services, revealed it had seen the huge amount of cryptocurrency taken out in just three months at the end of last year.

As a result, it was forced to sell $US5.2 billion ($A7.5 billion) in assets – including some at a loss of $US718 million ($A1.04 billion) – to cover the sudden withdrawal of funds and to continue trading.

US research firm Federal Financial Analytics managing partner Karen Petrou described the bank’s experience as “unprecedented” and “unusual”.

“Because they were so dependent on crypto funding, they were vulnerable for a run. Given the crypto market has been unstable, they got it,” she told Bloomberg." - Read More

Source: News



-3.5% Gross, -1.5% Net, Brite Banc Escrow, Florida, US

Seller Mandate Only

NEW: 1160 BTC @ -3.5% Gross, -1.5% Net, Brite Banc Escrow, Florida, US - Look For Seller


Post: 10.1.23


  • Buyer is buying 1160 BTC @ -3.5% Gross, -1.5% Net via Brite Banc Escrow platform.

  • Buyer = 1.5%

  • Buyerside = 1.5% 

  • Sellerside = 1.5% ​


  • Funds are loaded in Brite Banc

  • $20 million usd worth of BTC

  • Escrow Attorney in Florida

  • Request Seller procedure​


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