The fire lit by Silvergate Bank and Silicon Valley Bank will make it harder for crypto to find financial partners. The collapse of Silicon Valley Bank (SVB) and Silvergate Capital, some of the most crypto-friendly banks in the industry, has…
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US lawmaker suggests Signature’s collapse was tied to instability of crypto
Senator Michael Bennet said crypto was not “even as stable as the marijuana industry,” questioning Signature Bank’s ability to service digital asset firms but not dispensaries. Michael Bennet, a United States senator representing the state of Colorado, has suggested that…
MakerDAO passes proposal for $750M increase in US Treasury investments
The emergency proposal increases MakerDAO’s holdings of United States bonds by 150%, aiming to diversify the Dai stablecoin’s collateral exposure. Lending protocol and stablecoin issuer MakerDAO passed a proposal on March 16 to increase its portfolio holdings of United States…
Swiss Bankers Association proposes deposit tokens to develop digital economy
A deposit token is a concept that came out of Singapore’s Project Guardian last year, and it has already been touted by JPMorgan. The Swiss Bankers Association released a white paper on how Swiss banks can support the development of…
Bitcoin bears could face $440M loss in Friday’s options expiry
The bailout of Silicon Valley Bank provided a significant advantage to BTC bulls on the weekly $1.2 billion BTC options expiry. The rejection that followed Bitcoin’s (BTC) rally to $26,500 may appear to be a victory for bears, but $24,750…
Ethereum Upgrade to Implement Beacon Chain Withdrawals Scheduled for April 12
During the Execution Layer Meeting streamed on March 16, 2023, Ethereum developers announced that the blockchain is scheduled to upgrade on April 12, in 27 days. The upgrade, known as the Shanghai-Capella upgrade or Shapella, will include the implementation of…
Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply
The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter…
Fidelity Investments Has Opened Bitcoin Trading To The Public During Ongoing Banking Crisis
The financial giant will now allow customers to trade bitcoin, although they will not be able to withdraw it to self-custody. Customers of Fidelity Investments can now buy bitcoin through the broker. The Fidelity Crypto platform, first opened to a…
A Recap Of Last Week’s Banking Contagion And Bitcoin
So much has happened in the last week that it may be helpful to look at the totality of these events in relation to bitcoin. This is an opinion editorial by Dillon Healy, institutional partnerships at Bitcoin Magazine and Bitcoin…
Ethereum core developers set April 12 for Shanghai hard fork
The upgrade will enable staked ETH withdrawals on the Beacon Chain, completing Ethereum’s transition to a PoS consensus. A target date for the highly anticipated Shanghai hard fork has now been set: April 12. Ethereum core developers approved the target…