Companies willing to acquire the troubled Signature Bank will reportedly have to give up its cryptocurrency business. Those interested in purchasing the financial institution or Silicon Valley Bank (SVB) can submit bids by March 17. Both entities, which acted as main lenders for numerous crypto organizations, revealed operational difficulties earlier this week, prompting American regulators...Read More
(Any views expressed in the below are the personal views of the author and should not form the basis for making investment decisions, nor be construed as a recommendation or advice to engage in investment transactions.) Winter is over in North Asia. The warm weather, sunshine, and early blooming of the sakura announced the presence...Read More
A consortium of 11 major U.S. banks has agreed to invest $30 billion into First Republic Bank – a regional US bank that showed signs of destabilization this week following Silicon Valley Bank (SVB)’s collapse. The uninsured deposits come from Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New...Read More
While the Bitcoin price soared beyond $26,000, the XRP price attempted to rise beyond $0.4 but failed. The rejection not only led the price to drop more than 8% but also rolled out a descending trend that may drag the price close to the lower support. Presently, the XRP price is struggling to stay above...Read More
European regulators and policy experts are dismayed by how American watchdogs handled the collapse of Silicon Valley Bank last weekend.Certain policymakers take issue with the Fed’s “systemic risk exception,” which they believe could undermine the credibility of banking globally. Critiques of the Bailout According to the Financial Times, a senior eurozone official said the Federal...Read More
New York Judge Michael Wiles of the District Court of the Southern District of New York has denied the U.S. Department of Justice’s (DOJ) appeal to stay the $1 billion asset-sale plan between bankrupt crypto broker Voyager Digital and Binance.US. During a Wednesday hearing on the DOJ’s motion to halt the order pending appeal, Judge...Read More
The USDC depeg caused significant turmoil in the market last week. The stablecoin issuer Circle claimed that it has cleared “substantially all of the backlog of minting and redemption requests for USDC.” In a recent statement, Circle said it had redeemed $3.8 billion of USDC tokens over the period and minted $800 million. The Boston-headquartered...Read More
After a months-long wait since the Merge, Ethereum developers have set a target date for the network’s highly anticipated Shanghai hard fork. The upgrade will enable the network’s stakers to withdraw their locked Ether (ETH) for the first time since December 2020. Withdrawing Staked ETH During a recorded call among core developers on Thursday, devs...Read More
[PRESS RELEASE – Singapore, Singapore, 16th March 2023] Oraichain is partnering with DoraHacks to advance the adoption of its Layer 1 ecosystem for AI and Data Economy. Over the coming months, our teams will work together on a number of initiatives to support the next generation of AI + blockchain innovations, including AI-enhanced dApps, AI...Read More
The turbulence in the banking industry has influenced the world of cryptocurrencies, particularly Bitcoin. While there was apprehension about the viability of digital currency, recent developments reveal a renewed sense of optimism among traders and analysts as Bitcoin rose to its highest value since June 2022. However, the question remains: is Bitcoin’s recent surge sustainable?...Read More
In the race to untangle the FTX Group’s balance sheets – which were poorly kept at best and deliberately fraudulent at worst – the new leadership brought in to clean up the mess has uncovered $3.2 billion worth of direct payments to the former execs during the platform’s operation. Sum Represents Non-Operational Costs The figure...Read More
[PRESS RELEASE – London, United Kingdom, 15th March 2023] LiveArt release is in partnership with iv gallery, whose roster of artist projects includes, Beeple, WhIsBe, BossLogic, PAK, Tom Yoo and many other artists that shaped the Web3 art movement. LiveArt, a global art platform and community of over 400,000 people backed by Animoca Brands, Binance...Read More
Coin mixers, which allow users to obfuscate their transactions, have been the target of law enforcement agencies across the world. ChipMixer is the latest one to face a similar crackdown. In an operation conducted by German and US authorities, and backed by the European Union Agency for Law Enforcement Cooperation (Europol), police seized four servers,...Read More
One of the leading memecoins – Shiba Inu (SHIB) – saw its price tumble throughout the past 24 hours. At the time of this writing, it’s down by about 7%. This comes as some users found out that the chain ID of Shiba Inu’s blockchain – Shibarium – is the same as that of another...Read More
There have been numerous financial industry crises recently, which have created tremendous chaos. Initially, when FTX’s stock fell, another victim was claimed by the collapse of the well-established US Bank Silvergate capital. In a collapse that shook international markets, SVB Financial Group, a lender with a focus on startups, on March 10 became the largest...Read More
