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Rattled crypto industry could emerge stronger after USDC depeg

20.3.2023
Did the depegging reveal stablecoins’ limitations, or was it a learning moment?

Bitcoin, Ethereum Technical Analysis: BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens

20.3.2023
Bitcoin was trading above $28,000 on Monday, as cryptocurrencies extended a bull run to start the week. This upwards sentiment comes as the Federal Reserve and other major central banks made coordinated moves to enhance market liquidity. Ethereum continues to trade close to $1,800. Bitcoin Bitcoin...

Blockchain to Become More Relevant in Payments This Year, Sberbank Exec Says

20.3.2023
Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s...

Australian Banking Association’s cost of living inquiry reveals bank pressure

20.3.2023
An analysis of the rising inflation and concurrent collapse of Silicon Valley Bank proved that more than 186 banks in the U.S. are at risk of a similar shutdown if depositors decide to withdraw all funds

Midsize US Banks Ask Regulators to Extend FDIC Insurance to All Deposits for 2 Years Before Another Bank Fails

20.3.2023
The Mid-Size Bank Coalition of America has asked federal regulators to extend FDIC insurance to cover all deposits for the next two years. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank...

Fed, central banks enhance ‘swap lines’ to combat banking crisis

20.3.2023
Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic

US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks

20.3.2023
A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread...

US Senator Calls for Investigation Into Bank Failures — Says Fed Chair Powell ‘Bears Direct Responsibility’

20.3.2023
U.S. Senator Elizabeth Warren has called for a “thorough, independent investigation of the causes” that led to the failure of Silicon Valley Bank (SVB) and Signature Bank. She alleges that Federal Reserve Chairman Jerome Powell “bears direct responsibility” for regulatory...

Bitcoin hits $28k as uncertainty surrounds banks

19.3.2023
Bitcoin's price surged to surpass the $28,000 zone, marking a 16% boost in value in the past 7-days

UBS Group doubles offer and acquires Credit Suisse for $2B

19.3.2023
Swiss authorities agreed to change the country's regulations to bypass a shareholder vote and announce the deal over the weekend

Credit Suisse rescue plan may include nationalization, bondholder losses

19.3.2023
A bank rescue plan for Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse Group AG

Peter Schiff blames ‘too much gov't regulation’ for worsening financial crisis

19.3.2023
Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil

19.3.2023
A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban...

US midsize banks seek FDIC Insurance on all deposits for 2 years: Report

19.3.2023
The banking coalition reportedly argued that it would bring stability to the banking industry and reduce the chances of "more banking failures," in a letter to federal regulators

Blackrock CEO Warns More Bank Seizures and Shutdowns Could Result From Regulatory Changes

18.3.2023
The CEO of Blackrock, the world’s largest asset manager, has warned about additional bank seizures and shutdowns that could result from regulatory changes in response to the failures of several major banks in the U.S. “It does seem inevitable that some banks will now need to pull back...

Former Coinbase CTO makes $2M bet on Bitcoin's performance

18.3.2023
Balaji Srinivasan has predicted Bitcoin will reach $1 million within 90 days as a consequence of hyperinflation in the United States

UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal

18.3.2023
After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit...