Over $1.5 billion worth of Bitcoin (BTC) has flowed into the world’s largest crypto exchange platform by volume in the last 30 days. New on-chain data from market intelligence platform Coinglass reveals that Binance currently holds 588,129 Bitcoin at time of writing, 51,386 of which came in just this month. Coinglass further finds that 22,590 …
Monthly archives: April 2023
Fed, NYDFS assess their supervisory performance after March’s big bank failures
Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management. News Own this piece of history Collect this article as an NFT Join us on social networks Bank regulators in the United States have turned from introspection …
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Core Scientific’s Stock Hike 7% Following New Hosting Contracts Amid Bankruptcy
Crypto miner Core Scientific has signed a new hosting contract amid its bankruptcy proceedings. The struggling miner has agreed to host nearly 18,000 BTC mining rigs from three firms. The new contracts will bring the mining firm’s total mining rigs to over 220,000. The latest development in Core Scientific’s bankruptcy case saw the struggling crypto …
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PayPal subsidiary Venmo to introduce cryptocurrency transfers
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FDIC says Signature Bank failed due to mismanagement, risky crypto deposits
The U.S. Federal Deposit Insurance Corporation (FDIC) investigation into the collapse of Signature Bank found that the root cause of its troubles was “poor management” and risky crypto deposits. The FDIC released its comprehensive report on Signature Bank and the reasons that led to its failure on April 28. The regulator’s review covered the period …
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Genesis to enter mediation with creditors to continue restructuring plan
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SEC fines Up Global, Coinme $3.9M; issues C&D
The U.S. Securities and Exchange Commission (SEC) imposed cease-and-desist orders and fines upon three parties involved in UpToken on April 28. SEC names parties involved in UpToken ICO The SEC said that Up Global and Coinme — as well as Neil Bergquist, founder and CEO of both companies — were involved in a cryptocurrency securities …
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Ex Coinbase CTO Balaji clarifies 10% chance of sovereign default is ‘very high’
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Mastercard eyes more crypto expansion moves
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World’s Largest Regional Organization to Switch to Settlements in National Currencies
A China-led regional organization that covers more than half of Eurasia intends to transition to settlements in the currencies of its members. While the plan is to abandon the U.S. dollar in mutual payments, participating nations are yet to consider a common currency. Shanghai Cooperation Organization to Abandon Dollar in Favor of National Currencies The …
Terra Classic Advocates Propose Plan to Re-Establish USTC’s Peg With US Dollar, Token’s Value Surges by Over 9%
Almost 12 months back, terrausd (UST), an algorithmic stablecoin, suffered a detachment from the U.S. dollar, causing the Terra ecosystem to crumble shortly thereafter. At present, supporters of the Terra Classic blockchain community are deliberating on a plan to revive the ecosystem by re-establishing the once-stable token’s peg with the U.S. dollar. In response to …
US Government in Talks to Rescue Struggling First Republic Bank, Sources Say
Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector Deal Preferred as U.S. Government Officials Discuss First Republic Bank Rescue Efforts Market observers …
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Retail Trading Giant Robinhood Launches New Crypto On-Ramp To Boost Web3 Access
Retail trading giant Robinhood just introduced a new feature that will allow its users to skip previously necessary steps to reach and fund their accounts. During CoinDesk’s Consensus 2023 conference in Austin, Texas on Thursday, Robinhood Crypto general manager Johann Kerbrat announced the launch of Robinhood Connect, a crypto on-ramp that will allow users to …
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Top Crypto Analyst Says Bitcoin (BTC) Facing ‘Moment of Truth’ With Possibility of Rallying Higher
A widely followed crypto analyst says that king crypto Bitcoin (BTC) is coming up against a moment of truth. With BTC worth $29,188 at time of writing, crypto trader Justin Bennett tells his 112,300 Twitter followers that BTC can keep rising so long as it can stay above $28,800. “BTC is starting to feel more like this …
US Senator Ted Cruz Warns a CBDC Would Be ‘Profoundly Dangerous,’ Says Idea Is Backed by People Who Hate Bitcoin
Texas senator Ted Cruz is warning of the dangers behind the adoption of a central bank digital currency (CBDC). In a new interview at a Bitcoin (BTC) policy summit hosted by Swan Bitcoin, Cruz says a CBDC gives the government too much control over people’s currency. “I’m very concerned about the risk of a CBDC. President …