Bitcoin (BTC) wobbled a bit early Thursday as crypto-friendly bank Silvergate Capital (SI) shed more than 50% of its value on worries it may not survive, but turned upward in afternoon trading and is now higher by 0.4% over the past 24 hours at $23,500.

The state of South Dakota is making moves seeking to redefine what constitutes money, with a keen interest on classifying cryptocurrencies. 

A report by the Basel Committee on Banking Supervision reveals that banks’ exposure to Bitcoin and cryptocurrencies worldwide has dropped to 40%, citing market falls in 2022 and bankruptcies in the sector.

Dorsey, the co-founder of Twitter and former CEO of the top social media outlet hinted that he purchases BTC every week, according to a comment made on Nostr. This was in response to a post made by a certain user Utxo. He wrote, <i>“I wonder if Jack DCA [dollar-cost averaging] into BTC like the rest of us.”&nbsp;</i>

Fidelity Investments, a leading American-based investment firm, is poised to launch Fidelity Crypto, a dedicated investment platform catering to cryptocurrencies. This new offering will be spearheaded by Fidelity Digital Assets, the firm’s specialized arm for managing digital assets.

According to a recent crypto analytics firm CryptoQuant observation, Bitcoin’s current accumulation rate is higher than the 2018 bear market. Since Bitcoin hit $69,000 and the bear market began around a year ago, the crypto sector has been met with several unanticipated challenges, such as the pandemic, fears of inflation, and the Russo-Ukrainian conflict. This has caused the financial markets to be dominated by doubt and fear, leading to severe deleveraging.

At present, the Bitcoin and Ether markets are facing a concerning issue of liquidity thinning.

Mt. Gox creditors may start seeing their first bitcoin payments this month as the window for repayments is set to open.

Crypto prices were slightly higher halfway through the week, with most trading within a narrow range. Crypto stocks dipped after the open.

BitCard® has announced a new relationship with Blackhawk Network (BHN), one of the world’s leaders in branded payment technology. Through this groundbreaking commercial relationship, BitCard® will offer its Bitcoin Gift Card at select U.S. retailers in BHN’s vast network of retailers and B2B channels.