Silvergate's Future in Doubt, Polygon Releases Digital Identity Product

Market Update Traditional indices have continued their slide this week on fears of stickier inflation and higher for longer monetary policy. The $SPY is down 0.27%, and the $QQQ has fallen 0.56%, while the $DXY (+0.60%) hovers around $105, and US Treasury yields continue to rise. Crypto markets are following suit, with $BTC and $ETH dropping 1.43% and 2.47%, respectively. Binance’s custodial arm, Ceffu, is resuming its pursuit of a license in Singapore after withdrawing its application in 2021. Ceffu is expected to submit an application to the Monetary Authority of Singapore as soon as registration opens. The move comes as Binance is trying to shift some of its business focus to enterprise customers compared to retail clients.Crypto-friendly bank Silvergate failed to file their 10-k for the 2022 fiscal year within its prescribed time period yesterday. They filed a 12b-25 stating that they are working diligently to complete the 10-k, but they do not expect to be able to complete it by the extension date of March 16th. Additionally, the filing stated that recent losses “could result in the Company and the Bank being less than well-capitalized. In addition, the Company is evaluating the impact that these subsequent events have on its ability to continue as a going concern.” I