As some of the cryptocurrency industry’s go-to banks failed, Bitcoin’s importance was on display while its on and off ramps suffered.This is an opinion editorial by Karen Shidlo, a blockchain-focused content creator.The recent news of Silvergate Capital, Silicon Valley Bank (SVB) and Signature Bank...
Following the spread of the Silicon Valley Bank (SVB) crisis, Australia's prudential regulator has reportedly requested local banks to record cryptocurrency transactions. The Australian Financial Review reported on March 21 that the Australian Prudential Regulatory Authority (APRA) has begun demanding banks to identify their exposures to startups and crypto-related enterprises. The regulator has asked banks […] The post...
SVB Financial, the parent company of Silicon Valley Bank, filed for bankruptcy in New York. (Shutterstock)
As the U.S. witnessed one of the largest banking collapses in its history, Bitcoin is being innovated upon and seeing its network grow.This is an opinion editorial by Carlos Cardenas, an institutional account manager who has worked at legacy banks and cryptocurrency exchanges.Author Nassim Taleb published an interview titled,...
The collapse of Silicon Valley Bank has highlighted just how fragile the legacy financial system is. This is...
Digital Currency Group (DCG), one of world's largest crypto conglomerate, is on the lookout for new banking partners for its portfolio companies following the recent collapse of three major crypto-friendly banks in the US - Silicon Valley Bank, Signature Bank, […] The post Crypto Group DCG Is Looking for New Banking Partners appeared first on Blockmanity.
Bitcoin price is currently soaring, climbing more than 20% since last Friday. The rally could be due to a brand new bull narrative that's possibly brewing: using BTC to beat bank runs – a situation unfolding across the United States currently. Here is what this could mean for the number one cryptocurrency by market cap. Beating The Banking...
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 the cryptocurrency industry is being cut off from banking, bitcoin is outperforming the S&P 500, which, surprisingly, didn’t sustain a major hit, up 0.7%...
Summary: Crypto exchange Coinbase reinstated USDC/USD conversions on Monday after turbulence over the weekend. Circle previously halted stablecoin minting after troubles in the U.S. banking system involving major banks like Silicon Valley Bank and Signature. President Joe Biden said that the banking system is safe but executives at SVB and Signature must be fired. Major crypto exchange Coinbase restarted conversions for the USDC/USD...
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 "decisive actions" to strengthen public confidence in the U.S. banking system. This decision came after the FDIC and Federal Reserve recommended Silicon Valley Bank and...
Silicon Valley Bank has been shut down by the California Department of Financial Protection and Innovation due to inadequate liquidity and insolvency. The bank's shares were halted earlier today after a 66% slump in premarket trading.
SWIFT is set to go ahead with the second phase of its CBDC testing after seeing positive results in a test run that saw participation from the Monetary Authority of Singapore, Standard Chartered, etc.
Once a major banking partner for various cryptocurrency firms, Silvergate will end its operations in line with regulatory requirements.In a press release shared on Wednesday, Silvergate Capital Corporation, the holding company for Silvergate Bank, announced the immediate winding down of the bank’s operations along with voluntary liquidation of the bank.“In light of recent industry and regulatory...
Summary: JP Morgan will no longer offer banking services to crypto exchange Gemini, CoinDesk reported citing sources familiar with the matter. The bank's decision to cut ties with a crypto business is the latest in the so-called exodus of partnerships between crypto companies and their banking partners. Coinbase, another JP Morgan crypto customer, switched from Silvergate Bank to Signature Bank for USD deposits...
Two of the U.K.’s largest banks have imposed further restrictions on their customers’ ability to acquire cryptocurrencies.British banks have continued to crack down on their customers' cryptocurrency purchases. According to a Bloomberg report, Nationwide and HSBC are the latest U.K. banking giants to impose new limits on their customer’s cryptocurrency purchases via debit cards and end purchases with credit cards....
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