SVB Collapse Tanked NFT Trading Volumes, DappRadar Report Suggests
[Mar 16, 2023 12:28 PM] The day after Silicon Valley Bank collapsed, the number of active NFT traders dropped to its lowest point since November 2021.
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Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply
[Mar 16, 2023 12:00 PM] The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources…
On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank
Digital Assets Worth 2 Billion Rubles Issued in Russia in Less Than a Year
[Mar 16, 2023 8:00 AM] Digital financial assets (DFAs) for a total exceeding $26 million have been issued in Russia in the past year. This new market has been developing since it was regulated in 2021 and the country’s monetary authority started licensing issuers in the…
Wolf Bitcoin And Lightning Accelerator Announces First Cohort, Investors And Mentors
[Mar 16, 2023 7:00 AM] The New York-based Lightning accelerator has announced its first set of companies and projects.In Wolf's Clothing, the first-ever startup accelerator dedicated to Lightning, announced its selection of eight teams for its inaugural cohort, Wolfpack…
Meta Announces 10,000 Layoffs in ‘Year of Efficiency’ Move; Singles Out AI Over Metaverse as ‘Largest Investment’
[Mar 16, 2023 4:00 AM] Meta, the social media company, will continue to shed part of its workforce, recently announcing 10,000 new layoffs to be executed during 2023 as part of its new efficiency policy. Mark Zuckerberg, CEO of the company, stated that artificial…
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
[Mar 15, 2023 12:00 PM] On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day…
El Salvador Launches CUBO+ Educational Program Aimed At Producing Elite Bitcoin And Lightning Developers
[Mar 15, 2023 10:24 AM] Bitcoin Country seeks to generate world-class Bitcoin and Lightning engineers through a new program utilizing the university system.El Salvador’s Bitcoin Office has announced a new six month educational program entitled “CUBO+” that aims to produce
Luxor Launches First Antminer Firmware Made In The U.S.
[Mar 15, 2023 7:17 AM] Bitcoin mining company Luxor Technologies has launched an Antminer-compatible firmware designed to maximize miner efficiency.Luxor Technologies, a Bitcoin mining software and services company, has released LuxOS, the first third-party…
Study Finds El Salvador Remains One of the Countries Most Interested in Bitcoin
[Mar 15, 2023 5:30 AM] A recent study that examined the interest of several countries in bitcoin and crypto ranked El Salvador as second for having the most interest in the issue. While the U.S. was still ranked first, El Salvador’s high rank comes amidst criticism…
Meta Winding Down Support for NFTs on Facebook, Instagram
[Mar 15, 2023 1:30 AM] U.S. tech giant Meta is giving up on operations with non-fungible tokens (NFTs) amid ongoing turbulence in the crypto space. The company allowed creators to share digital collectibles on its leading social media platforms last year. Meta Platforms…
Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks
[Mar 14, 2023 3:30 PM] After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from…
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
[Mar 14, 2023 1:30 PM] The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would…
US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision
[Mar 14, 2023 11:30 AM] The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased…
Mobile BTC Rewards Game ‘Bitcoin Miner’ Surpasses 1 Million Players
[Mar 14, 2023 9:59 AM] The Bitcoin Miner game has presented more than 1 million players with the opportunity to acquire bitcoin.Bitcoin Miner, a game developed by mobile gaming studio Fumb Games in collaboration with ZEBEDEE, has achieved the milestone of over one…
Report: DOJ and FBI Investigating Terraform Labs in Connection to Algorithmic Stablecoin Collapse
[Mar 14, 2023 8:00 AM] The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from…
Spain Prepares to Expand Offer of Gold Bullion Coins for Investors
[Mar 14, 2023 5:30 AM] The government of Spain has approved the resources for a new issuance of gold bullion coins, which will be directed to satisfy a higher estimated demand for these instruments. The Spanish National Coin Factory will purchase 40 million euros in…
Decentralized Bitcoin-Focused Social Media App Zion May Use Nostr In The Future
[Mar 13, 2023 7:25 PM] 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…
Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
[Mar 13, 2023 4:30 PM] 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…
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
[Mar 13, 2023 3:00 PM] 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…
Ordinals Community Donates $19,000 To HRF Bitcoin Development Fund
[Mar 13, 2023 2:16 PM] 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…
Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum
[Mar 13, 2023 11:30 AM] On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant…
Bitcoin Surges Past $24,000 As U.S. Sees Major Banks Fail
[Mar 13, 2023 10:21 AM] The bitcoin price rocketing to $24,000 amidst the banking crisis is reflecting the world’s need for a sound money alternative.Bitcoin remained resilient in the face of a very hesitant market Monday morning, surging past $24,000. Despite fears that…
FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds
[Mar 13, 2023 8:30 AM] The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both…
USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement
[Mar 12, 2023 8:30 PM] The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out…
U.S. Treasury, FDIC And Federal Reserve Will Guarantee All Deposits At SVB, Signature Bank In Unprecedented Move
[Mar 12, 2023 7:59 PM] A joint statement ensured that all customer deposits at the respective banks will be honored by the federal government.The U.S. Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) announced on Sunday that they would take…
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
[Mar 12, 2023 6:05 PM] On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the…
Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow
[Mar 12, 2023 12:30 PM] The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to…
Cryptocurrency Turnover Growing in Russia, Watchdog Reports to Putin
[Mar 11, 2023 11:30 PM] Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has informed President Putin. The agency, Rosfinmonitoring, is following thousands of participants in digital asset transactions with a new…
Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’
[Mar 11, 2023 6:00 PM] On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the…