Tag Archives: News

UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter.  Shares of Swiss banking giants UBS and Credit Suisse plunged substantially following a takeover of the latter. On Monday morning, UBS secured a 3 billion Swiss franc ($3.2 billion) bailout of its troubled domestic rival amid the global banking crisis. Swiss authorities had assisted in facilitating the “emergency rescue” to preempt a contagion risk to the global banking...

The special administrative unit in Hong Kong is also contemplating a way to introduce a compulsory licensing regime for stablecoin issuers as early as this year.  Kaiko, a French crypto market data provider, will shift its headquarters from Singapore to Hong Kong for greener pastures in the upcoming center for Web3 companies. In an interview with Kaiko’s Chief Executive Officer Ambre Soubiran, it was disclosed that the company will be moving forward with the decision amid the city’s...

FTX may yet have a chance to establish itself as a force to reckon with in the crypto space. Plans to launch FTX 2.0 may gradually be shaping up after Wall Street investment firm, Jefferies, confirms that it is in talks with a potential buyer for the failed FTX exchange. If all goes according to plan, the exchange is expected to resume operations after being shut down by regulators. Bankrupt FTX Exchange to Relaunch as FTX 2.0 According to sources familiar with the situation, Jefferies has...

As a company, Virgin Orbit has a very definitive goal, and that’s to deliver small commercial satellites to Earth’s orbit. Space technology company Virgin Orbit Holdings Inc (NASDAQ: VORB) is facing one of the toughest financial strains in its history and may file for bankruptcy if it fails to secure funding as soon as possible. According to a Fox News report, the company majority-owned by Sir Richard Branson’s Virgin Group has contracted two known restructuring firms, Alvarez & Marsal...

As per blockchain intelligence firm Chainalysis, Euler Finance transferred a total of 100 ETH to an address having links to North Korea. Another major hack rocked the decentralized finance (DeFi) market last week in March. The attack on DeFi protocol Euler Finance drained a massive $197 million making it the biggest DeFi hack in 2023 so far. While tracking the details of the movement of hacked funds, it turns out that the hack could be linked to North Korea. Among the series of transfers...

The ATM maker shuttered its cloud services to limit further compromise of sensitive user information. Bitcoin ATM maker General Bytes has reportedly lost BTC worth about $1.5 million to a crypto hack. The company reported a security incident between March 17 and 18 that allowed unauthorized access to compromising user information. According to the press release, the attacker gained remote access to the entire database, API keys, hot wallets, user names and passwords. Consequently, the...

FDIC said that the deal between Signature and Flagstar would cost the Deposit Insurance Fund an estimated $2.5 billion. On Sunday, March 19, the Federal Deposit Insurance Corporation announced that Flagstar Bank, a subsidiary of the New York Community Bancorp, has entered an agreement with US regulators to secure the deposits and loans from Signature Bank, which announced shutdown a week back. The FDIC said that roughly $4 billion of Signature Bank’s deposits and $60 billion worth of...

Stellar lumen price is facing a major resistance near the $0.090 zone against the US Dollar. XLM price is now trading above $0.082 and the 55 simple moving average (4-hours). There is a key contracting triangle forming with resistance near $0.0890 on the 4-hours chart (data feed via Kraken). The pair could start a decent increase if it clears the $0.0890 and $0.090 resistance levels. Stellar lumen price is trading above $0.0820 against the US Dollar, similar to bitcoin....

Ripple price started a fresh decline from the $0.400 zone against the US dollar. The price is now trading above $0.3700 and the 55 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.3780 on the 4-hours chart of the XRP/USD pair (data source from Bittrex). The pair could extend losses if it stays below the $0.400 resistance zone. Ripple price is struggling below $0.400 against the US Dollar, similar to bitcoin. XRP price must...

Economist Peter Schiff is confident that the price of bitcoin could eventually fall to $0. He also stated in a recent interview that the process won’t happen right away. Rather, he thinks it could be long and drawn out. We Can Always Rely on Peter Schiff for Negative Sentiment This is certainly a big step away from the more bullish analyses we’ve been receiving over the past few months. Earlier today, we published an article talking about William Noble, who famously...