Debtors saved over $100M using de-pegged stablecoins to repay loans
Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar.
Posts published on March 13, 2023 go to media archive 1/3
HSBC Acquires Silicon Valley Bank UK — Sale Facilitated by Government, Bank of England
The British government and the central bank, the Bank of England, have facilitated a private sale of Silicon Valley Bank UK to HSBC, according to Chancellor of the Exchequer Jeremy Hunt. He stressed that “Deposits will be protected, with no…
More than 280 blockchains at risk of ‘zero-day’ exploits, warns security firm
Dogecoin, Zcash and Litecoin have already patched the “critical” vulnerability, but hundreds of others may not have, risking billions’ worth of crypto.
CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group
The technology advisory committee aims to assist the CFTC in “identifying and understanding the impacts and implications of technological innovation in financial services and markets.”
Binance to lose its British pound on- and off-ramp provider in 9 weeks
Binance has also had problems with its banking partner for United States dollar transfers over the last few months.
SD Governor Urges 20 States to Block Legislation That Bans Crypto’s Use as Money — Says ‘Its a Threat to Our Freedom’
South Dakota Governor Kristi Noem has vetoed a bill that bans the use of cryptocurrencies, including bitcoin, as money. The bill, masquerading as a Universal Commercial Code (UCC) guidelines update, also paves the way for central bank digital…
CBDCs should protect privacy, not be a surveillance tool: Former CFTC chair
Former CFTC Chair Christopher Giancarlo says that Anti-Money Laundering and Know Your Customer measures are both outdated and constitutionally questionable and that crypto technology could do better.
Bitcoin Price Rally Loses Steam But This Support Might Spark Another Surge
Bitcoin price surged over 15% and cleared the $24,000 resistance. BTC might correct lower, but dips might be supported near the $23,500 zone. Bitcoin started a strong increase above the $23,500 resistance zone. The price is trading above $24,000…
US Fed faces internal probe over Silicon Valley Bank failure
Federal Reserve chair Jerome Powell said a "careful and thoughtful" review is needed to understand how the bank collapsed under its watch.
Goldman Sachs Now Expects No Rate Hike in March Due to Stress in US Banking System
FDIC to attempt another auction of Silicon Valley Bank: Report
Regulators are planning another auction for Silicon Valley Bank after the previous attempt to find a new owner failed.
Decentralized Bitcoin-Focused Social Media App Zion May Use Nostr In The Future
From identity to data, Zion’s CEO explains how they envision the app expanding going forward.The recent introduction of the decentralized social media protocol Nostr took the distributed technology world by storm. Even Block CEO Jack Dorsey has…
FBI, NY authorities probes collapse of TerraUSD stablecoin: Report
The controversial founder of Terraform Labs, Do Kwon is at the center of the investigation, despite believed to be hiding out in Serbia.
Robert Kiyosaki Warns of ‘Crash Landing Ahead’ as Bailouts Begin — Advises Buying More Bitcoin
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has reiterated his bitcoin, gold, and silver recommendation. Emphasizing that government bailouts have begun following the collapses of Silicon Valley Bank and Signature…
Meta pulling the plug on NFTs across Instagram and Facebook
The short-lived NFT features were first launched in May 2022, but Meta's financial technology lead said it's "winding down" the tools to focus elsewhere.
Marathon Digital: Deposits held at Signature Bank are secure and available
The company disclosed that it has approximately $142 million in cash deposits at Signature Bridge Bank, which was set up by the FDIC after the shutdown of Signature Bank.
Euler attack causes locked tokens, losses in 11 DeFi protocols, including Balancer
On March 8, Euler had over $311 million in crypto locked inside its smart contracts. Its total value locked has since fallen to $10.37 million.
USDC depegged, but it's not going to default
USD Coin is going to survive Silicon Valley Bank’s collapse. But it should inspire advocates of cryptocurrency to prepare for future systemic shocks.
Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes…
Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director
“What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi,” said Caroline Hill.
This Is How A Hacker Stole Roughly $200 Million From Euler Finance, A DeFi Protocol
Euler Finance, a decentralized finance (DeFi) lending protocol on Ethereum, has lost approximately $200 million through a flash loan hack. This loss makes it the biggest DeFi hack in 2023. Euler Finance’s $200 Million Exploit On Mar. 13…
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1…
Filecoin Price Spikes As FVM Launch Nears, Will It Rally Higher?
A day to the FVM launch, and Filecoin is already pulling weight. The upcoming Filecoin Virtual Machine (FVM) launch is sparking more traction in the Filecoin network as FIL soars nearly 30% a day before launch. According to the Filecoin development…
Bitcoin surges past $24,000 on CME launch of BTC event contracts
Bitcoin futures on CME have traded 550,000 contracts since inception.
Bitcoin futures premium falls to lowest level in a year, triggering traders' alerts
On March 12, Bitcoin futures traded 5.5% below regular spot exchanges, causing volatility in derivatives markets.
Ordinals Community Donates $19,000 To HRF Bitcoin Development Fund
An Ordinals community surrounding the Taproot Wizards inscriptions has donated almost .85 bitcoin to the HRF.The Taproot Wizards Ordinal inscription collection community has announced the donation of approximately $19,000 worth of bitcoin to the…
U.S. Doesn’t Want To Get Entangled With The Silicon Valley Bank Collapse: Binance Boss
Silvergate and SVB bite the dust: Law Decoded, March 6–13.
Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures.
US banks experience volatility and trading halts amid bank failures and presidential assurances
Dozens of regional banks saw share price swings that triggered trading halts as banks of all sizes feel the impact of last week’s bank failures.
Stablecoin Trading Dominates Monday’s Crypto Market, Tether and BUSD Sell at Premiums
On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several…