Crypto Biz: Silvergate Shutting Down, Alameda Suing Grayscale

The crypto world has been rocked with some negativity lately. Negative headlines surrounding Silvergate dragged Bitcoin's price below $20,000 while bankrupt Alameda is planning to sue Grayscale and its parent company DCG.

Silvergate, a bank well known for its crypto-friendly services, has experienced some negative press after reports of its data breach. The breach reportedly involved information from customers accounts. Bitcoin's already volatile price slid further as news of Silvergate's breach spread.

On the other hand, bankrupt Alameda Research has filed a lawsuit against Grayscale and its parent company DCG. Alameda accuses Grayscale of interfering in its business by offering aggressive incentives for traders to switch to its platform.

These recent events show just how volatile the landscape of the crypto world is. Banks, exchanges and traders alike must remain vigilant and careful when dealing with cryptocurrencies, as there always remains the lingering possibility of a major shake up.

What do you think of this recent news surrounding Silvergate and Alameda? Do you think these events will have lasting impacts on the crypto industry?  Let us know in the comments below.