On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity during the early morning (ET)…
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Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” according to Wells Fargo equity analyst Jared Shaw. Silvergate’s liquidation caused SBNY shares to sink on Friday, dropping more than 13% as…
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Concerns have been raised around the financial health of the tech-focused bank, which services the likes of crypto-friendly VCs such as Sequoia and a16z. Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional…
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Large financial institutions are getting involved in digital assets by investing capital, time and effort into on-chain analytics solutions. The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs). As mainstream financial institutions begin…
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The prominent cryptocurrency exchange Kraken is making its foray into the banking industry with the establishment of Kraken Bank. “We’re building a better kind of crypto & Bitcoin bank for our clients,” said the exchange on its website. The Wyoming, USA-based bank is called Kraken Financial, but “due to overwhelming demand, it will be known…
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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: ByBit Announces Card, PancakeSwap to Launch V3 on BNB Chain, Egypt Arrests 29 Scammers, Pakistan Banks’ Association to Develop a Blockchain-based KYC Platform Read more »Sign…
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HSBC Holdings Plc and Nationwide Building Society imposed limits on retail customers’ access to cryptoassets in another episode of UK banks reacting to the recent crypto industry legal and regulatory issues. HSBC said that, in February, it restricted customers from buying crypto with its credit cards, Bloomberg reported. The report quoted the bank as saying…
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One bank accounts for almost 62% of all crypto-asset prudential exposure, and almost two-thirds of banks holding crypto are in the Americas. Around 20% of banks have exposure to crypto assets, a Bank for International Settlements (BIS) report released Feb. 28 found. The majority of those banks are in the Western Hemisphere. According to the…
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The joint statement highlighted the key liquidity risks associated with crypto-assets and related participants for banking organizations. In a joint statement released by three United States federal agencies, the banking sector was advised against creating new risk management principles to counter liquidity risks resulting from crypto-asset market vulnerabilities. The Board of Governors of the Federal…
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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: US Fed Denies Custodia Bank’s Membership Request, Dapper Labs Lays Off 20% of Staff, Block Reports $1.66BN Profit for Q4, Binance Finds 500 ‘Incorrectly Classed’ Aussie Users Read…
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