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Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
13.3.2023
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount...
Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum
13.3.2023
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following...
Binance Suddenly Converts $1 Billion From Industry Recovery Initiative to Bitcoin, Ether, BNB – Here's Why
13.3.2023
Binance has confirmed plans to convert $1 billion worth of Binance USD (BUSD) from its Industry Recovery Initiative to native crypto assets, including Bitcoin, Ethereum, and BNB.
In a Monday tweet, Binance CEO Changpeng Zhao said the world's largest cryptocurrency exchange plans to convert...
FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds
13.3.2023
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under...
Crypto industry may escape lasting damage from Silvergate liquidation
13.3.2023
Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.”
How Filecoin (FIL), Avalanche (AVAX), and TMS Network (TMSN) are innovating crypto industries globally?
13.3.2023
Filecoin (FIL), Avalanche (AVAX), and TMS Network (TMSN) are three of the most innovative and disruptive platforms in the crypto space. And TMS Network’s (TMSN) first phase of pre-sale, where they have already raised $ 2 million in their private seed sale (in an incubator fund), is enough...
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
11.3.2023
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch...
Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil
11.3.2023
According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic conditions” and the “crypto winter”...
India Brings Crypto Transactions Under Prevention of Money Laundering Act
11.3.2023
India’s finance ministry has announced that crypto transactions will be covered under the Prevention of Money Laundering Act, 2002 (PMLA). Noting that the move “is a positive step in recognizing the sector,” a crypto insider explained that it will strengthen the industry’s...
Stranger Things Actor Says She's Streaming On Twitch More Due To Industry Sexual Harassment
10.3.2023
Grace Van Dien is a streamer and an actress. You probably know her best as Chrissy Cunningham on Stranger Things, but she’s also starred in movies like What Comes Around and V For Vengeance. Two days ago, she told her Twitch viewers that she “turned down acting projects and decided to stream more”...
US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual
10.3.2023
After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over...
The Cryptocurrency Betting Revolution on Wintop․io
10.3.2023
Since December 2022, Wintop.io has been strongly growing into the crypto world. A new vision of the betting industry, combining crypto and the most exciting casino and sport games, is now available on https://www.wintop.io/ with a wide variety of bonuses and promotions, for all the types...
Banks Shouldn’t ‘Punish’ Crypto Industry, Republican Senators Urge
10.3.2023
A crackdown on digital assets companies is reminiscent of “choke point” targeting of gun sales, Fed Governor Jerome Powell was told
Replacing Silvergate’s Network Is a Challenge for Crypto Industry: JPMorgan
10.3.2023
Some of the services provided by Silvergate will migrate to other banks such as Signature Bank, Provident Bancorp, Metropolitan Commercial Bank and Customers Bancorp, the report said
US Accounting Watchdog Issues Warning on Crypto Proof-of-Reserve Audits: Investors Urged to Exercise Caution
9.3.2023
According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and...
Crypto industry braces for impact with Silvergate exit
9.3.2023
Silvergate may not pose a systematic risk for the U. S. banking system, but it could raise risks related to banking concentration and introduce new challenges for venture capital firms sources claim
Russian Crypto Industry Group Calls for Putin Talks – This Is What It Wants to Discuss
9.3.2023
Leaders of Russia’s cryptoasset and blockchain industry say they want to meet President Vladimir Putin for face-to-face talks about crypto regulation.
The media outlet RBC reported that the request was made by the Russian Association of the Crypto Industry and Blockchain (RACIB) and a software...
Blockchain Industry Gets Boost as US Firms Set to Raise $100 Million For Crypto Fund – Are Institutions Coming Back?
9.3.2023
Despite a series of high-profile moves by the Securities and Exchange Commission as it seeks to reign in the US Crypto Industry, a new digital asset fund venture could reignite market growth.
The result of a partial merger between leading firms Alpha Sigma Capital and Transform Ventures. The...
Crypto Payroll Firm Toku Raises $20 Million Amid Industry-Wide Shift Towards Compliance
9.3.2023
Toku, a startup specializing in token-based payroll and tax compliance, has successfully raised $20 million in funding. The company's unique approach is designed to assist crypto businesses in maintaining regulatory compliance amidst increased scrutiny from regulators. With its innovative...
Digital Asset Inflows Will Slow Without On-Ramps Between Fiat and Crypto: Morgan Stanley
9.3.2023
Following the closure of crypto-friendly bank Silvergate, the focus will be on actions by Signature Bank and crypto exchange Binance, the report said