First Citizens Buys Silicon Valley Bank, Assuming $72B in Loans, $56B in Deposits
The Federal Deposit Insurance Corp. also acquired equity appreciation rights in the parent of First Citizens Bank, which is potentially worth up to $500 million.
ARK Invest Scoops Up Coinbase, Block Shares for Second Straight Day
Cathy Wood's fund bought COIN and SQ on Thursday and Friday last week after Coinbase tumbled on getting hit with a Wells Notice and Block took a hit following a short-seller's report.
First Citizens Nearing Deal for Silicon Valley Bank: Bloomberg
Raleigh, N.C.-based First Citizens is the 30th largest bank in the U.S., with $109 billion in assets, and recently completed an acquisition of New York-based commercial lender CIT.
First Mover Asia: Bitcoin Is Ready for a Consolidation Phase
ALSO: Sam Reynolds writes that decentralized derivatives platforms are having a liquidity problem. The shortage may stem from crypto traders current caution, but at least one analyst is optimistic that the situation will change.
Bitcoin Was a Winner During the U.S. Banking Crisis, but Illiquidity Prevents It From Being a USD Hedge
While capital flowed into bitcoin amid a period of uncertainty, the cryptocurrency’s fractured liquidity arguably played the largest role in its surge.
U.K. lobbying groups and lawmakers have been complaining that crypto clients can’t find a bank and are faced with restrictions, so they are calling the government to act.
Crypto Pundits Romance the Hyperinflation and Dollar Death Narrative. Is It a Real Scare?
Coinbase's former CTO, among others, has predicted that bitcoin will reach $1 million as the dollar fades, but these doomsayers are ignoring other historical precedents.
Amazon's NFT Plans Teased in a Receipt Mailed Friday Afternoon
In an email to CoinDesk's Nikhilesh De, Amazon appeared to confirm that digital tokens, an NFT gallery and resale opportunities are coming to the site.
Federal Reserve Says Custodia’s Crypto-Focused Business Model Is ‘Inconsistent’ With Approval
The Federal Reserve Board argued that Custodia Bank’s proposed business model was “inconsistent” with approval in an order explaining its denial of the Wyoming-based crypto bank’s application for membership.
Regulatory Pressure Did Not Shut Down Privacy Tool, Aztec Founders Say
Despite U.S. efforts to sanction Tornado Cash and other crypto privacy tools, Aztec says it shut down its Ethereum zero-knowledge tools for “commercial” reasons.
Matter Labs Has No Plans for zkSync Era Airdrop, But Crypto Twitter Is Speculating
Based on the precedent set by many crypto projects, including this week's example with Arbitrum's airdrop of its ARB token, the speculation over a possible zkSync airdrop isn’t totally unfounded.
Bank Consolidation Threatens Freedom, Makes Case for Bitcoin
The biggest threat from the banking crisis triggered by this month’s collapse of Silicon Valley Bank might not lie in the potential for depositors to lose their savings but in the censorship power that massive banks are now accumulating as…
Decentralized Media Via Web3: A Solution to Bias and Trust Issues in News?
Ashley Rindsberg – a speaker at CoinDesk's Consensus festival – argues that the New York Times has a track-record of dangerous misreporting. Is "DeMe" the answer to what skews to the media?
U.S. Accounting Board Seeks Crypto Standards Requiring Firms to Report Price Shifts
U.S. accounting standards may be overhauled to specifically factor in crypto accounting, establishing a fair-value approach that would demand certain digital assets be measured at what they’d go for in the markets, according to a change proposed…
NFTs continued to grow beyond their humble Ethereum roots this week, with Magic Eden becoming the first major NFT marketplace to offer Bitcoin-based collectibles on its platform. Web3 gaming was also in the spotlight, as Sony filed a patent that…
A Three Arrows Capital Founder Talks About His New Crypto Bankruptcy Exchange
Less than a year after Three Arrows Capital imploded along with $2.5 billion of its clients' money, the hedge fund's founders Su Zhu and Kyle Davies are back on the scene with what appears, to their credit, to be an impressive bankruptcy exchange…
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