🌎Friday Morning News Recap - March 3, 2022 \ stacker news ~bitcoin

Concerns about the future of troubled crypto bank Silvergate prompted a sell-off in the BTC and crypto market tonight. The decline was further intensified by the liquidation of trading positions worth over USD 200 million, which were betting on the rise of BTC. "Silvergate" was one of the main banks for US-based crypto companies, but it was heavily affected by the FTX crisis and faced billions of dollars in withdrawals from clients this year, which further complicated the bank's situation. The bank predicts that its losses, which have already reached a billion dollars, could increase further.
- The bank's shares fell by 58% yesterday and have dropped by about 95% over the year. Companies such as Microstrategy, Tether, Circle, Paxos, Bitstamp, Galaxy, Coinbase, Blockchain.com, Wintermute, and GSR have already announced that they will either no longer keep funds in the bank or terminated their cooperation with it.
Meanwhile, BTC-embracing bank Xapo integrated LN payments, reportedly becoming the world's first bank to do so.
Also, three Japanese banks have started experimenting with stablecoin payments.
However, banks in the United Kingdom continue to restrict their clients' access to BTC and crypto, with Nationwide Building Society and HSBC further tightening their conditions for the industry.
Fountain app released version 0.6.5 which enables zap support on Nostr directly from the app's wallet.
TBD, a Bitcoin-focused subsidiary of Jack Dorsey's Block, announced a new Lightning Network business c=. The company will provide infrastructure using bitcoin from Block's treasury to make Lightning Network more usable and reliable for developers, businesses, and users.
Nunchuk and Coinkite announced a strategic partnership.
lnp2pBot, a NO KYC peer-to-peer bitcoin trading bot working on Telegram has been hacked and deleted. No user funds were lost in the attack.
Ethereum (ETH) developers have decided to further delay the blockchain update that would finally allow ETH stakers to withdraw their ETH earned from interest. The update is now expected around mid-April.