Binance Loses USD Banking Services From Silvergate – June 11

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $37,031

Bitcoin price has settled around the $37,000 mark the last day of trading, as price volatility appears to be dying down once again.

Top-20 altcoins have also cooled down, as Ethereum falls under 3%, XRP drops 2% and Internet Computer dives 13%.

Top Stories for June 11, 2021 πŸ”₯

πŸ‘‰ Binance Loses USD Banking Services From Silvergate

Cryptocurrency exchange Binance has had its ties cut with Silvergate Bank, a crypto-friendly bank providing USD services to the exchange.

International Binance customers will no longer be able to make USD deposits and withdrawals using the bank, as of June 11.

Binance claims in an email to customers that they are working hard to secure an alternative solution for USD payments.

πŸ‘‰ IMF To Meet With Salvadoran President Following Bitcoin Adoption

An International Monetary Fund (IMF) team has reportedly scheduled to meet with the president of El Salvador, following the country’s adoption of Bitcoin as legal tender in the country.

A spokesperson for the IMF has warned of the risks associated with using Bitcoin for common transactions, citing “macroeconomic, financial and legal issues that require very careful analysis”.

πŸ‘‰ Twitter CEO Jack Dorsey Hints At BTC Lightning Network Integration

Jack Dorsey, founder of Twitter and Square, has hinted on Twitter that he is planning to integrate Bitcoin’s Lightning Network into Twitter, BlueSky, or both companies.

The hint was made by Dorsey in a reply to a Tweet suggesting such an integration, to which he replied “only a matter of time”. BlueSky is a decentralized social network that Twitter has been developing since 2019.