The collapse of Signature Bank, Silicon Valley Bank, and Silvergate Bank has had many in the space reeling — but is the U.S. government trying to “choke off digital assets”? Tom Emmer, Majority Whip of the United States House of Representatives, has reiterated concerns that the federal government is “weaponizing” concerns around the banking industry…
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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: Wirex & Novatti to Issue Cards to Australians, 280 Networks & $25BN at Risk Due to a Vulnerability, China’s ‘Surveillance Coins’ vs US ‘Freedom Coins’ Read more »Sign…
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The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many…
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Coinbase, one of the largest cryptocurrency exchanges in the world, has announced that it has millions of dollars in corporate cash balance with Signature Bank, which was recently shut down. The news came via a Twitter thread on March 13, revealing that Coinbase had around $240 million with the bank as of the close of…
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On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be…
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Lawmakers in the US held a meeting with the Federal Reserve and Federal Deposit Insurance Corporation on Friday to discuss the swift and stunning collapse of Silicon Valley Bank (SVB). Democratic US Representative Maxine Waters reportedly discussed with officials from the two federal bank regulators, as well as the Treasury Department, hours after SVB collapsed. Lawmakers from…
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A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law,…
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Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has informed President Putin. The agency, Rosfinmonitoring, is following thousands of participants in digital asset transactions with a new blockchain analytics system, the official revealed. Volume of Crypto Transactions in Russia Almost $13 Billion, Financial Authority Says The turnover of crypto…
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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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The chairman of the Commodity Futures Trading Commission (CFTC) has insisted that ether is a commodity, not a security as claimed by the chairman of the Securities and Exchange Commission (SEC). The CFTC chief stressed that the derivatives watchdog would not have allowed ether futures products to be listed on CFTC-regulated exchanges “if we did…
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