Crypto news

Despite the clarity of the SBA’s stance, there are still many questions to answer on the legal front. In a recently published white paper, the Swiss Bankers Association (SBA) proposed the issuance of a joint deposit token on a public blockchain. The SBA noted a consensus that stablecoins be issued by registered institutions and cited a push to regulate stablecoins by the FSB, OECD, and BCBS. This will enable supervision and optimal investor protection. Again, it stated the widespread...

In addition to seeking the grace period from Nasdaq, Astra also mentioned a possessive reverse stock split. Rocket launch startup Astra Space (NASDAQ: ASTR) has drawn a plan to avoid a delisting from the Nasdaq. The stock trading platform gave the small rocket builder a deadline to exceed a share price level of $1 or face removal. This came after Astra’s share remained below $1 for 30 consecutive business days, violating Nasdaq listing rules. At press time, Astra trades at $0.42, having...

Students who finish the course will be given several options for continuing the Bitcoin journey, including the variant to start a full-time job at a renowned Bitcoin firm. El Salvador has come up with a new crypto initiative for its citizens. The Bitcoin Officer has announced a new six-month educational program called “CUBO+” that strives to churn out elite-level Bitcoin and Lightning developers via the Salvadoran university system. According to the announcement, the dev Bitcoin courses...

Senator Michael Bennet from Colorado said that Signature Bank didn’t make “prudentially sound” decisions while dealing with crypto. Other US lawmakers believe crypto is being made a scapegoat in the failed banking policies of the Fed. Michael Bennet, the United States Senator from Colorado, recently opened up about the shutting down of crypto-friendly Signature Bank, with the intervention of the Fed and the FDIC. He said that the bank with crypto clients didn’t make “prudentially sound”...

Marathon Digital has also revealed the nature of its exposure to the now-defunct crypto-focused Silvergate Bank. Embattled Bitcoin (BTC) mining firm, Marathon Digital Holdings Inc (NASDAQ: MARA) has released its performance report for the fourth quarter (Q4) of 2022 in which it unveiled a poorer-than-expected revenue. According to the firm, its revenue came in at $28.4 million, down by 58% from its year-ago record. Marathon Digital operates in a very strained market as the global economy,...

Bitcoin cash started a decent increase above the $115 and $120 levels against the US Dollar. The price is now trading above the $120 zone and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $126.80 on the 4-hours chart of the BCH/USD pair (data feed from Coinbase). The pair must clear $132 and $138 to continue higher in the near term. Bitcoin cash price is climbing above $120 against the US Dollar, similar to bitcoin....

Companies willing to acquire the troubled Signature Bank will reportedly have to give up its cryptocurrency business. Those interested in purchasing the financial institution or Silicon Valley Bank (SVB) can submit bids by March 17.  Both entities, which acted as main lenders for numerous crypto organizations, revealed operational difficulties earlier this week, prompting American regulators to close them down. The Necessary Condition: Forget About Crypto According to a...

A consortium of 11 major U.S. banks has agreed to invest $30 billion into First Republic Bank – a regional US bank that showed signs of destabilization this week following Silicon Valley Bank (SVB)’s collapse.  The uninsured deposits come from Bank of America, Citigroup, JPMorgan Chase, Wells Fargo, Goldman Sachs, Morgan Stanley, Bank of New York Mellon, PNC Bank, State Street, Truist, and U.S. Bank. As reported by Yahoo Finance, the former four banks each contributed $5...

European regulators and policy experts are dismayed by how American watchdogs handled the collapse of Silicon Valley Bank last weekend.Certain policymakers take issue with the Fed’s “systemic risk exception,” which they believe could undermine the credibility of banking globally.  Critiques of the Bailout According to the Financial Times, a senior eurozone official said the Federal Reserve showed “total and utter incompetence” in its response to SVB’s failure, turning its...

Defendant Ben Armstrong denied the allegations and stated that he had never been in contact with anyone at FTX. A group of social media influencers has been named in a new lawsuit alleging they promoted collapsed crypto exchange FTX to their millions of followers without proper disclosure. According to the suit, filed on Wednesday, the influencers failed to disclose the nature of any, rewards, payments, or compensation realized from promoting the crypto exchange. The influencers named in...