Bitcoin price finally broke through the $28,000 mark, but BTC futures and options data suggest some traders are uneasy about the strength of the recent bullish momentum. The price of Bitcoin (BTC) surpassed $28,000 on March 21, but according to two derivatives metrics, traders aren’t very ecstatic after a 36% gain in eight days. Looking…
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Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s Troubles With Settlements in Blockchain With major Russian banks disconnected from the main global interbank payment…
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Did the depegging reveal stablecoins’ limitations, or was it a learning moment? USD Coin (USDC), the world’s second-largest stablecoin, may simply have been in the wrong place at the wrong time. The place was Silicon Valley Bank (SVB), a commercial bank with $209 billion in assets, where USDC issuer Circle had deposited $3.3 billion of…
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After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the…
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Rising interest rates, which brought down the U.S. banking system’s market value of assets by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threatens their stability. The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of Silicon Valley Bank…
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Amidst the chaos of last weekend’s banking collapses and a major stablecoin depegging, investors found solace in a surprising asset class: tokenized diamonds. As market volatility peaked, reports from CoinDesk show that sales in digitized diamonds skyrocketed by 300%, with Diamond Standard’s marketplace leading the charge. Founder and CEO Cormac Kinney confirms that the surge…
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The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if…
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In a week when the crypto industry — and the rest of the world — was beset by bad news about banking, one more banking setback has come to light. Institutional cryptocurrency custodian Protego’s conditional national trust banking charter has expired without it receiving permanent approval, according to a March 17 report in Fortune. A…
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Cointelegraph breaks down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explains what this all could mean for crypto. Last week’s rapid collapse of Silvergate, Silicon Valley Bank (SVB) and Signature Bank has highlighted the fragility of the traditional banking sector while depriving crypto of its primary fiat…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: ‘If Government Bans Drugs, It Should Ban Crypto’, SVB Financial Group Files for Bankruptcy, BlockSec Stops Hacker from Stealing ETH 2,900 Read more »Sign up for e-EUR –…
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