Crypto Market Sees $300M In Liquidations As Silvergate Goes Under – March 10

📈 30 Second Cryptocurrency Price Summary

Current Bitcoin Price$19,992

Bitcoin price has taken a plunge to below the crucial $20,000 mark, as the crypto-friendly Silvergate bank goes under.

Top-20 altcoins have been impacted too, as Ethereum dives 8%, BNB drops 5% and XRP falls 6%.

Top Stories for March 10, 2022 🔥

👉 Crypto Market Sees $300M In Liquidations As Silvergate Goes Under

Crypto traders suffered $307 million in liquidations in the past 24 hours as crypto markets plunged on news of Silvergate Capital winding down operations.

Binance saw the most losses, with $104 million, followed by OKX with $79 million and Huobi with $45 million. Bitcoin traders suffered the most losses, with $112 million, while ether liquidations surpassed $73 million.

👉 DoJ Appeals Binance.US Acquisition Of Voyager Assets

The US Department of Justice’s Trustee Office is trying to block Binance.US’ acquisition of Voyager Digital’s distressed assets, with an appeal filed one day after a New York bankruptcy judge approved the deal.

The Securities and Exchange Commission had also previously filed an objection to the deal, citing potential violation of federal securities laws. Judge Michael Wiles said “we have to take some kind of action” to help creditors waiting for access to their invested property.

👉 Meta Is Building A Decentralized, Text-Based Social Network

Facebook and Instagram parent company Meta is reportedly developing a text-based content app called P92, that will support the decentralized social networking protocol, ActivityPub.

Users will be able to log in with their existing Instagram credentials and profiles will be populated with their Instagram account details. The app will have a supplementary privacy policy and terms of service that address cross-app data sharing.

The minimum viable product will enable users to broadcast posts to people on other servers, but it is uncertain whether commenting and messaging features will be included in the product’s first version.