Tag Archives: AA News

With the largest crypto-supportive banks in the U.S. crumbling at the seams, industry firms appear to be retreating to Switzerland for a financial lifeline.  Crypto-focused banks in the region are reporting higher traffic after Silvergate, Signature Bank, and Silicon Valley Bank (SVB) all effectively failed over the past two weeks.  Where to Crypto Firms Go? SEBA Bank managing director Yves Longchamp told Reuters via email that the bank has experienced a “pronounced uptick”...

Argentina’s annual inflation rate surpassed 100% in February, marking a 30-year high since the nation’s hyperinflationary period in 1991.  Meanwhile, Bitcoin has appreciated against the Argentine Peso by 20% over the past year, despite posting a 34% drop against US dollars over the same period.  Government data released on Tuesday showed a Consumer Price Index (CPI) increase of 6.6% across the month alone, alongside a 13.1% year-to-date rise. The rapid debasement of the...

Balaji Srinivasan, a venture capitalist and former CTO of Coinbase, claimed that the US economy would enter a phase of hyperinflation in 90 days, catapulting BTC to $ 1 million.  Balaji, whose crypto venture Earn.com was acquired by Coinbase in 2019, also offered to pay $1 million in BTC to the best 1,000 tweets that alert about stealth financial crisis.   Balaji Bets BTC to be at $1 Million  Yes. Just moving money for the bet. We can do it via smart contract, but for...

The Federal Bureau of Investigation (FBI) revealed that Americans parted with over $10 billion last year due to online fraud. Wrongdoers drained $2.57 billion of that amount via cryptocurrency investment schemes.  Crypto Scams on the Rise Despite the predominantly bearish year for the cryptocurrency industry, 2022 was fruitful for criminals. They stole nearly $2.6 billion from American consumers using investment schemes related to bitcoin and other digital assets. In...

The professional Brazilian soccer players – Gustavo Scarpa, Mayke Rocha de Oliveira, and Willian Bigode – have reportedly lost over $5 million due to investing in an alleged fraudulent cryptocurrency firm called Xland. The company said it did not run a pyramid scheme and promised to reimburse the victims. Athletes Have Fallen Victims Scarpa – Brazilian soccer player who plays for Premier League club Nottingham Forest – and Mayke Rocha de Oliveira (better known as Mayke) – who...

The “Vietnam Crypto Market Report 2022” revealed that 16.6 million Vietnamese own digital currencies, with bitcoin being the most popular asset. Another research conducted by Chainalysis placed the Asian country as the world’s cryptocurrency adoption leader, with a score of 1.000. Close to the Top The study, reported by a local media outlet, estimated that 16.6 million Vietnamese had purchased cryptocurrencies (approximately 17% of the country’s population). 31% of those have...

A recent study conducted by the analytics company Juniper Research estimated that payments via central bank digital currencies (CBDCs) could reach $213 billion by 2030.  The firm believes governments across the globe will use the product to boost financial inclusion and improve the monetary condition of emerging economies. A Possible Boom of CBDC Transactions Juniper Research experts analyzing the fintech and payments market believe CBDC transactions could skyrocket from $100...

Silicon Valley Bank (SVB) was the backbone of many startups and venture capital funds around the world. Its collapse signifies the biggest banking failure since the 2008 financial crisis. While the crypto market has largely been spared from an adverse effect, the same cannot be said for the non-fungible token (NFT) space. According to the latest edition of the DappRadar report, the NFT traders went “numb” in response to the banking turmoil in the United States. NFT Space...

El Salvador’s government has launched another initiative repping its support for Bitcoin adoption and development of the broader network.This time, it’s a Bitcoin/ lightning developer training program funded by VC firm Fulgur and stablecoin issuer Tether.  As announced by El Salvador’s Bitcoin Office on Wednesday, the “CUBO+” program is an advanced Bitcoin engineering program that is several months long and offers credit and potential placement for those qualifying for the...

Larry Fink, chief executive officer of the world’s largest asset management company BlackRock, believes tokenizing asset classes such as stocks and bonds could foster efficiency in capital markets and improve investor access. The CEO noted in his latest annual letter to investors that BlackRock is currently exploring the digital asset industry and would continue to do so, especially in areas related to permissioned blockchains and tokenization of stocks and bonds. BlackRock...