Cryptocoins News / Blockchain - 2 years ago
Major cryptocurrency firms, including Tether, Crypto.com, Gemini, BitMEX, and others, have denied exposure to dissolved U.S. banks like Silicon Valley Bank and Signature Bank. The firms have taken to social media to assure their users that their fund...
Cryptocoins News / Blockchain - 2 years ago
The price of Bitcoin surged over $26,000 as the US Department of Labor reported a 0.4% increase in the Consumer Price Index (CPI) for February 2023, with inflation rising by 6% over the last year. The cryptocurrency markets reacted positively to the...
Cryptocoins News / Blockchain - 2 years ago
Polygon and Unstoppable Domains have partnered to offer the ability to create Web3 .polygon domain names, enabling users to log into Web3 applications, use human-readable wallet addresses, and create decentralized websites. The service will be availa...
Cryptocoins News / Blockchain - 2 years ago
The closure of three major crypto-friendly banks in the US, Signature Bank, Silicon Valley Bank, and Silvergate Bank, could pose a challenge for crypto companies in accessing traditional banking partners. The loss of these banks could impact crypto l...
Cryptocoins News / Blockchain - 2 years ago
Crypto firms including Coinbase, Paxos, and Celsius have reported funds tied up with Signature Bank, which was shut down by New York regulators due to concerns about systemic risk. While some firms expect to recover their funds in full, others have d...
Cryptocoins News / Blockchain - 2 years ago
Nissan has filed four new Web3-related trademarks in the US and is experimenting with auto sales in the metaverse in Japan. The trademarks cover its Infiniti, Nismo, and Nissan brands and include plans for virtual goods and a nonfungible token (NFT)...
Cryptocoins News / Blockchain - 2 years ago
A solo Bitcoin miner successfully mined the 780,112th block in the Bitcoin blockchain, earning a block reward of 6.25 BTC worth over $150,000. The miner was able to produce a valid hash after just two days of mining, a rare occurrence that typically...
Cryptocoins News / Blockchain - 2 years ago
Binance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made f...
Cryptocoins News / Blockchain - 2 years ago
The closure of three major American banks that serve cryptocurrency firms, including Silicon Valley Bank and Signature Bank, has sparked debate within the cryptocurrency community. The closure of Silicon Valley Bank, which held over $3.3 billion of U...
Cryptocoins News / Blockchain - 2 years ago
Euler Finance, an Ethereum-based noncustodial lending protocol, suffered a flash loan attack on March 13, resulting in the loss of millions in Dai, USD Coin, staked Ether, and wrapped Bitcoin. The attacker stole nearly $196 million in multiple transa...
Cryptocoins News / Blockchain - 2 years ago
Privacy-oriented blockchain platform Aztec is set to shut down Aztec Connect, its network's privacy infrastructure serving as the encryption layer for Ethereum. Aztec will no longer run a sequencer from March 2024, and the current system will no long...
Cryptocoins News / Blockchain - 2 years ago
Circle has partnered with Cross River Bank for USDC production and redemption, as well as expanded relationships with other banking partners like BNY Mellon. The USDC stablecoin recently experienced a peg-breaking incident but has since recovered. (R...
Cryptocoins News / Blockchain - 2 years ago
Okcoin has paused its U.S. dollar wire and ACH deposits due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars. The suspension extends to over-the-counter services, credit card transactions...
Cryptocoins News / Blockchain - 2 years ago
Lending protocol Aave has temporarily halted trading of stablecoins and set the loan-to-value (LTV) ratio to zero due to the recent price volatility on USD Coin (USDC) following its depegging on March 11. Aave's decision was based on an analysis by d...
Cryptocoins News / Blockchain - 2 years ago
Circle, the issuer of the stablecoin USD Coin (USDC), has announced that it will use corporate resources to cover the shortfall on its reserves after Silicon Valley Bank (SVB) was shut down by the California Department of Financial Protection and Inn...
Cryptocoins News / Blockchain - 2 years ago
On March 10, concerns about the solvency of USD Coin (USDC) led several holders to panic sell their holdings and switch to other stablecoins. One user lost over 2 million USDC in a failed attempt to exchange them for Tether (USDT) using KyberSwap's d...
Cryptocoins News / Blockchain - 2 years ago
The Bank of England has ordered the Silicon Valley Bank's UK branch to halt its operations as it has limited presence and no critical functions supporting the financial system. The bank will be placed into a Bank Insolvency Procedure, and eligible de...
Cryptocoins News / Blockchain - 2 years ago
The decisions made by the Federal Reserve and the Federal Deposit Insurance Corporation regarding the future of Silicon Valley Bank (SVB) may have significant consequences for regional banks across the United States. Former Bridgewater executive Bob...
Cryptocoins News / Blockchain - 2 years ago
The death of the Terra ecosystem triggered a bear market in 2022, causing losses in billions, affecting investor sentiment, and intensifying the regulatory spotlight over cryptocurrencies. Recently, Circle's disclosure that Silicon Valley Bank (SVB)...
Cryptocoins News / Blockchain - 2 years ago
Billionaire hedge fund manager Bill Ackman has warned the US government that failing to guarantee all deposits held by Silicon Valley Bank (SVB) within 48 hours could result in the destruction of several financial institutions. Ackman argued that a "...
Cryptocoins News / Blockchain - 2 years ago
Over 125 venture capitalists and investors, including Sequoia Capital and General Catalyst, have pledged their support for Silicon Valley Bank (SVB) as the 40-year-old banking institution winds down its operations. The investors signed a statement in...
Cryptocoins News / Blockchain - 2 years ago
The South Korean government has invested 24 billion Korean won ($18.1 million) in a fund dedicated to driving metaverse initiatives in the country, with a total fund of more than 40 billion Korean won ($30.2 million). The Metaverse Fund will support...
Cryptocoins News / Blockchain - 2 years ago
United States Treasury Secretary Janet Yellen is working with regulators to address the collapse of Silicon Valley Bank (SVB), one of the top 20 largest banks in the US. Yellen has stated that they are focused on protecting depositors, particularly s...
Cryptocoins News / Blockchain - 2 years ago
Circle's latest audit report reveals that the company's exposure to the US banking system stands at nearly $9 billion, with its reserves held by a number of regulated financial institutions, including SVB, BNY Mellon, and Silvergate. However, recent...
Cryptocoins News / Blockchain - 2 years ago
Governor Kristi Noem of South Dakota has vetoed House Bill 1193, which sought to exclude cryptocurrencies from the state's definition of money. The governor believes that the bill would put South Dakota at a disadvantage and potentially lead to futur...
