South Dakota Governor Kristi Noem has vetoed a bill that bans the use of cryptocurrencies, including bitcoin, as money. The bill, masquerading as a Universal Commercial Code (UCC) guidelines update, also paves the way for central bank digital currencies (CBDCs). Emphasizing that this bill is clearly “a threat to our freedom,” the governor urged 20
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Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after the central bank announced measures to rescue depositors of failed Silicon Valley Bank and
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has reiterated his bitcoin, gold, and silver recommendation. Emphasizing that government bailouts have begun following the collapses of Silicon Valley Bank and Signature Bank, Kiyosaki warned that the Fed will inject more “fake money” into the “sick economy.” Robert Kiyosaki’s ‘Crash Landing’
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 regulators aimed to “send a very strong anti-crypto message.” Frank, who also serves as a Signature
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 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for
The price of Bitcoin (BTC) increased by 14.4% between March 12-13 after it was confirmed that financial regulators had rescued depositors in the failing Silicon Valley Bank (SVB). The intraday high of $24,610 may not have lasted long, but $24,000 represents a 45% increase year-to-date. On March 12, U.S. Treasury Secretary Janet Yellen, Federal Reserve
On Monday, the crypto economy experienced significant market activity with $183.85 billion in global trade volume over 24 hours, with a large portion of those trades involving stablecoins. USDC traded near parity with the U.S. dollar, and several stablecoins, including tether and BUSD, sold at premiums. Tether reached a high of $1.04 per unit and
Crypto exchange Gemini had no funds at Signature Bank, and its Gemini US Dollar (GUSD) stablecoin was not backed by any deposits at the failed bank, according to a March 13 official tweet from the company. 1/ It’s very sad to hear the news about Signature Bank. They have been incredible partners to Gemini and
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 onchain movements would be noticeable following the announcement. CZ’s Decision to Convert $1 Billion BUSD Comes Amidst Troubles
Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today’s session, with the global crypto market cap trading nearly 10% higher. Ethereum classic also moved significantly higher. Litecoin (LTC) Litecoin (LTC) rose by as much as 15% to
Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history. BTC price sees “phenomenal” rebound Data from Cointelegraph Markets Pro and TradingView tracked a thoroughly bullish hourly candle for BTC/USD, which reached $23,725 on Bitstamp. The move was eagerly anticipated by
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 banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and
On Jan. 25, the Committee on Elections introduced a bill to the Kansas House of Representatives aimed at capping political donations via crypto at $100. Regardless of the success of this legislative initiative, the state of Kanzas won’t be the first jurisdiction to target anonymous donations. From authoritarian nations like Russia or China to electoral
Earlier this year, Joshua Browder, CEO of AI startup DoNotPay, attempted to bring a robot lawyer into a California courtroom, despite almost certainly knowing that it was illegal in almost all 50 states to bring automated assistance like this into a courtroom. DoNotPay bills itself as the “world’s first robot lawyer” whose goal is to
Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news. Bitcoin Bitcoin (BTC) rose back above $22,000 on Monday, as
The panic caused due to USD Coin’s (USDC) depeg from the U.S. dollar manifested itself in a wrong order, costing traders $50,000 per Bitcoin (BTC), albeit for several minutes. Bitcoin price sees $50K in “fat finger” error The BTC/USDC pair on Binance flash spiked to $50,000 on March 12 around 7:00 pm UTC. The reason for
Binance, the cryptocurrency exchange, has launched a prepaid cryptocurrency card in Colombia, expanding its reach in Latam. The card, which will allow customers with their identity verified to make payments with crypto, establishes the country as one of the leading markets for the exchange in Latam behind Brazil and Argentina. Binance Announces Crypto Prepaid Card
Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the United States Federal Reserve injects liquidity into the U.S. economy. In a move which can rival any classic Bitcoin comeback, BTC/USD is up a full 15% off the two-month lows seen on March 10. The volatility — and temporary relief for
The failure of three major crypto-backing banks, Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank caused the stablecoin (USDC) to fall to as low as $0.87 from its $1 benchmark. Amid the concern mounting around stablecoins, Binance CEO and co-founder Changpeng (CZ) Zhao tweeted on March 13 that with the “changes in stablecoins and
A solo Bitcoin miner has managed to mine the 780,112th block in the Bitcoin blockchain, receiving a 6.25 Bitcoin (BTC) block reward in return. The estimated value of the payout is over $150,000. The solo miner was also lucky to have produced a valid hash after just two days of mining, as the event itself
The FBI has issued a public service announcement (PSA) warning on the utilization of play-to-earn games as part of a scheme to defraud users of funds stored in the form of cryptocurrency. Criminals are introducing victims to this kind of game and then use malware to extract the funds from cryptocurrency wallets linked to the