Crypto news

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Is an all-out crypto war coming? That’s the sentiment of many analysts now that the Securities and Exchange Commission (SEC) has sworn to sue Paxos, the issuer of stable coin BUSD. The agency says that the firm has been selling the asset as an unregistered security. The SEC Clearly Hates Crypto Under normal circumstances, this wouldn’t be any big deal. After all, it’s not like the SEC has had a great attitude towards crypto in the past, though it seems to be making a lot...

Bitcoin surged by 6% minutes after US President Joe Biden assured that the American banking system is “safe.” Many alternative coins, including Ether (ETH), Binance Coin (BNB), and Cardano (ADA), also headed north. The recent collapse of Silicon Valley Bank and Signature Bank caused severe panic, with some predicting a further contagion in the sector. In a highly anticipated speech, the President of the United States – Joe Biden – stated that Americans should have confidence...

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The unprecedented injection of liquidity into the market from the Federal Reserve during that period was an attempt to stimulate an ailing economy. But before that, crypto, which closely tracked the stock market’s movements, went into a downward spiral soon after. Bitcoin crashed from $8,000 to $3,750 in a matter of hours. It was the “loaded” retail and amateur players that tapped crypto and meme stocks as markets recovered. Eventually, the asset class soared to new heights...

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Silicon Valley Bank and the crypto-friendly – Signature Bank – disclosed operational difficulties and were closed down by regulators. While some expect the collapse to prompt a domino effect, numerous cryptocurrency-related companies have already suffered losses because of their exposure to the aforementioned institutions. Let’s have a closer look. SVB’s Impact As CryptoPotato reported last week, Circle – the Boston-based company which issues the second-largest stablecoin...

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The Novotel Bahrain Al Dana Resort – one of the most luxurious hotel spots in Manama, the capital of Bahrain in the Middle East – has announced it will be accepting crypto payments for items like room stays and other vacation staples. A Luxury Hotel in Bahrain Is Accepting Crypto The move is pushing the goals of bitcoin and its digital counterparts closer to being achieved. What many people likely forget is that while bitcoin and many of its crypto cousins have taken on...