Crypto news

Popular UK-based financial institution National Westminster Bank (NatWest) has restricted the funds its customers can spend on crypto purchases to reduce their exposure to the volatile asset class. According to a Bloomberg report, NatWest account holders now have a transfer limit of £1,000 ($1,215) per day or £5,000 ($6,090) every 30 days into crypto exchanges. NatWest Restricts Customers’ Crypto Activity NatWest, the UK’s third-largest bank by market capitalization, said the...

Circle CEO Jeremy Allaire spoke on Tuesday recapping the Silicon Valley Bank (SVB) and USDC drama from his company’s perspective.  According to Allaire, all of the company’s cash reserves are now stored with Bank of New York Melon. Rescuing Crypto From Banking During the interview, Allaire said his company was prepared to use Circle’s own corporate funds to backstop its underwater cash reserves before banks opened on Monday. The firm held $3.3 billion with SVB, which it...

Crypto firm Paxos has said it’s expecting to face charges from the Securities and Exchange Commission (SEC) over its issuance of BUSD, the Binance-centered stable coin. It is believed by the financial agency that the company has been issuing the currency as a non-registered security. Paxos Will Likely Be Charged By the SEC The New York state financial regulator has issued a cease-and-desist letter to Paxos claiming that the firm should not be providing investors with...

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Both the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) are reportedly investigating the now-collapsed Silicon Valley Bank (SVB) after depositors to the bank were bailed out by regulators on Sunday.  The separate investigations will both examine the stock sales of SVB’s executives moments before the bank collapsed. The agencies’ investigations are still at a preliminary stage and will not necessarily lead to allegations or charges, according to the...

Ethereum’s Co-Founder – Vitalik Buterin – recently sent 200 ETH (approximately $350,000 at current valuations) to an address belonging to the crypto exchange Kraken and 500 ETH (over $875,000) to the DeFi protocol Reflexer. He deposited the 500 ETH to mint 150,000 RAI tokens, exchanging most for USDC.  The stablecoin passed through some turbulence lately, depegging from its target after Circle revealed a whopping $3.3 billion exposure to Silicon Valley Bank (SVB). The peg has...

When it comes to crypto scams, forget about romance, the dark web, or even fraudulent trading platforms. According to a new report, YouTube is the go-to tool for those looking to orchestrate digital currency schemes and steal money from unsuspecting victims. YouTube Is Becoming a Haven for Crypto Fraud The report comes by way of With Secure Inc., a digital security firm that has been monitoring the growing network of crypto fraud schemes via video platforms like YouTube....

Bitcoin’s price has surged over the last couple of days and has broken past a key resistance level. While the momentum is highly bullish, there are some caution signals to look out for. Technical Analysis By: Edris The Daily Chart: On the daily chart, the price has rebounded decisively from the significant 200-day moving average, located around the $20K mark a few days ago. Since then, the market has been trending impulsively to the upside, finally breaking above the $25K...

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