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FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers
1.4.2023
FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to customary know-your-customer...
EU Lawmakers Vote to Impose €1,000 Limit on Unidentified Crypto Transactions
30.3.2023
EU lawmakers have voted in favor of imposing a €1,000 limit on crypto transactions where the customer cannot be identified. “Entities, such as banks, assets and crypto assets managers, real and virtual estate agents, and high-level professional football clubs, will be required to verify their...
Law Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses
29.3.2023
According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying...
Bitcoin, Ethereum Technical Analysis: BTC Moves Below $27,000, Following CFTC Suit Against Binance
28.3.2023
Bitcoin moved below $27,000 during Tuesday’s session, as the U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance. The suit claims that Binance knowingly offered unregistered crypto products to U.S. customers. Ethereum was also lower on the news, briefly falling...
Bitcoin ATM maker to refund customers impacted by zero-day hack
28.3.2023
General Bytes has implemented several measures in the wake of the hack, including offering to reimburse its cloud-hosted customers and adding new security measures
A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking
27.3.2023
Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08...
Binance employees allegedly help customers in China bypass KYC controls
24.3.2023
A new investigation claims that Binance’s billion-dollar security protocols are being manipulated by users around the world through inside help
TYB launches on Shopify and uses Avalanche to engage customers
23.3.2023
Avalanche has announced a big advancement that strengthens the Web3 environment and will likely accelerate the community’s acceptance of it. According to the release, TYB will launch the Web3 loyalty program on the Shopify application. Millions of Shopify retailers will be able to benefit...
Bitcoin Mining Firm Navier Starts Tokenized Hashrate Marketplace for Retail Customers
22.3.2023
The Navier platform will give retail users more control over their acquired hashrate, and enable them to sell it on
Crypto Exchange Bitzlato Restores User Access to Half of Bitcoin Balances, Report
22.3.2023
Bitzlato users can now partially withdraw their bitcoin funds from the dismantled cryptocurrency exchange, according to a media report. The Russia-linked trading platform was targeted by Western law enforcement and had its France-based server infrastructure seized in January. Bitzlato Customers...
US Senator: Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards
17.3.2023
U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from...
British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams
15.3.2023
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious...
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...
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...
Binance Launches Prepaid Card in Colombia
13.3.2023
Binance, the cryptocurrency exchange, has launched a prepaid cryptocurrency card in Colombia, expanding its reach in Latam. The card, which will allow customers with their identity verified to make payments with crypto, establishes the country as one of the leading markets for the exchange in Latam...
HSBC Acquires Silicon Valley Bank UK for £1 to Safeguard Customers and Taxpayers – What's Going On?
13.3.2023
Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers.
The deal excludes the assets and liabilities of SVB UK's parent company.
As of March 10,...
Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking
12.3.2023
After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look...
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...
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...
Alameda Research Sues Grayscale Investments Seeking to Unlock Billions in Value for Shareholders
7.3.2023
FTX Debtors and affiliate Alameda Research Ltd. have filed a lawsuit against Grayscale Investments, seeking injunctive relief to unlock $9 billion in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts. The debtors allege that “Grayscale has extracted over $1.3 billion...