The fallout from last year’s CeFi blow-ups may still be ricocheting throughout the web3 sector, with questions now swirling regarding the solvency of Silvergate Bank, sending the company’s shares into free fall.
Silvergate’s problems began on Wednesday when documentation Silvergate submitted to the U.S. Securities and Exchange Commission revealed it will not file its annual 10-K report for the 2022 financial year until after March 16, citing pending regulatory investigations into its operations.
The company has warned that it is assessing “its ability to continue as a going concern.”
DeFi giant Uniswap Labs has built a self-custody crypto wallet, another sign of its efforts to become a one-stop shop within the crypto ecosystem.
But the application is stuck in “limbo.” Built for iPhones, it must get approval from Apple before it can launch on the company’s App Store. A request for approval was submitted “months ago,” according to the company, and has been denied for “ever-changing reasons,” founder Hayden Adams tweeted.
Only 10,000 people will be able to download the wallet, which they can do via an Apple program that allows a limited number of users to test applications in their beta phase.