Business

White House watching Silvergate in crypto fallout

White House press secretary Karine Jean-Pierre said in her Monday briefing the Biden Administration has its eyes on Silvergate after the California crypto bank delayed its annual report and announced the shuttering of its exchange network last week.

FTX fallout hits Silvergate, bitcoin

Silvergate has delayed its annual report with the Securities and Exchange Commission after reporting a $1 billion loss for fourth quarter and is now concerned about ability to operate.

Manufacturing contracts for third straight month

The Institute for Supply Management (ISM) said that its Manufacturing Purchasing Managers’ Index (PMI) reached of 47.7 last month after reaching 47.4 in January, notching the third straight month of contraction.

Consumer confidence slips again

Consumer confidence declined in January for the second month in a row according to the latest data, surprising economists who had expected sentiment to rise.