Author: e_cash_top

[ad_1] Ad Signature Bank — a New York-based lender focused on servicing companies in the crypto industry — has shut down. The New York State Department of Financial Services closed the bank on Sunday, appointing the FDIC as a receiver. U.S. President Joe Biden said that Treasury Secretary Janet Yellen and Economic Council Director Brian…

[ad_1] Bitcoin made a high on March 12, to $21,500, as futures markets prepared to open in the next few hours. Almost $100 million of liquidations occurred in the past 24 hours Markets have been net short Bitcoin in the past few days extensively. While accumulation for spot Bitcoin was also happening at the same…

[ad_1] Meanwhile, Binance is not alone in considering a move into traditional finance; Kraken has also stated its intention to open a bank. Read more: Kraken eyes own bank amid regulatory scrutiny The collapse of FTX has put crypto-friendly banks under increased scrutiny, with the recent failures of SVB and Silvergate adding to the pressure…

[ad_1] Ad On Friday, March 10, Elon Musk expressed his openness to buying Silicon Valley Bank following its collapse. Min-Liang Tan, CEO of Razer, suggested on Twitter that Twitter should purchase SVB and transform it into a digital bank. Musk responded briefly, stating, “I’m open to the idea,” without providing additional information. I’m open to…

[ad_1] Quick Take The second most amount of Bitcoin withdrawn from exchanges this year at roughly 15,000 BTC. The perpetual funding rate is extremely negative, indicating Bitcoin is being shorted aggressively by record amounts since the FTX collapse. Investors are creating a “stablecoin,” buying Bitcoin and shorting cross 1x inverse to achieve a synthetic USD. …

[ad_1] Definition The total number of transactions waiting in the mempool in different size (vByte) cohorts. Quick Take The number of transactions in the mempool has surpassed three-year highs Transaction count surpassed Ordinals hype, and Luna and FTX collapse, showing high transaction demand. This demand is most likely from the fallout of Silvergate and SVB;…

[ad_1] Quick Take On Saturday, March 11, Circle CEO Jeremy Allaire announced that Circle pledges to cover any shortfall in the assets backing USDC if it does not receive the entirety of a $3.3 billion cash reserve held at Silicon Valley Bank. USDC is a stablecoin meant to be pegged to the US dollar but…

[ad_1] Ad The following is a guest post by Anndy Lian. The crypto industry is currently experiencing anxiety due to concerns about the potential detachment of USDC, a stablecoin supported by US dollars. As an individual who closely monitors the market, I have been observing the situation and would like to share some of my…

[ad_1] Ad What we know so far about the SVB collapse and USDC/DAI depeg (updated): Crypto firm Circle reveals $3.3 billion stuck in SVB DAI/USDC depeg as stablecoin pressure continues after Silicon Valley bank collapse Binance suspended USDC conversions due to volatile market conditions Coinbase suspended USDC conversions “over the weekend while banks are closed”…

[ad_1] Ad According to venture capitalist and longtime crypto supporter Nic Carter, the recent crackdown on the US crypto industry can be dubbed “Operation Choke Point 2.0.” Carter argues that inter-governmental organizations are working to suffocate and destroy the crypto industry. Carter’s post, titled “Operation Choke Point 2.0 Is Underway, And Crypto Is In Its…