Crypto - Optimisus

Ark Invest, the investment firm headed by Cathie Wood, has invested around $6.4 million in Block shares

1 year ago 1 min read

Ark Invest Buys Block Shares Worth $6.4 Million Across Multiple Funds

Ark Invest, the investment firm headed by Cathie Wood, has invested around $6.4 million in Block shares across three of its funds. According to its latest trade filing, Ark Invest added a total of 92,165 Block shares on Monday, with 77,991 shares going to the Ark Innovation ETF, 13,170 shares to Ark Next Generation Internet, and 1,004 shares to the Ark Fintech Innovation ETF. Block’s shares closed down about 2.2% on Monday, ending the day at $69.46. Block, which was founded by Jack Dorsey, recently sought feedback from developers for its bitcoin “mining development kit.” The company believes that the

Binance Loses British Pound Fiat Gateway Support in Less than 10 Weeks

1 year ago 1 min read

Binance’s UK Fiat Gateway to Close Down in 9 Weeks

Skrill Limited, Binance’s current British pound transfer service partner, announced that it would cease to offer its services to the exchange. This means that Binance users will no longer be able to make British pound deposits and withdrawals via Faster Payments Service or card on May 22, 2023. Binance has said that it is working hard to find an alternative provider before Skrill terminates its services. The exchange has about nine weeks to find a new partner to provide British pound on- and off-ramp services to users. The change is unlikely to impact Binance Accounts or any Binance.com products or

Biden's vow to bring those behind SVB and Signature Bank collapse to justice

1 year ago 1 min read

Biden promises justice for victims of SVB and Signature Bank collapse

On March 12, 2023, the New York District of Financial Services took possession of Signature Bank and announced the closure of Silicon Valley Bank to protect the US economy and strengthen public confidence in the banking system. This move was met with praise from US politicians, including President Joe Biden, who tweeted that he was pleased with the solution that protects workers, small businesses, taxpayers, and the financial system. Biden also vowed to hold accountable those responsible for the collapse of the banks while reassuring Americans that their deposits are safe. He added that he would have more to say

1 year ago 4 mins read

Katana Inu & Boba Network Collab to Improve Blockchain Gaming Experience

Palo Alto, CA, 13th March, 2023 Katana Inu has partnered with Boba Network to explore collaboration opportunities between their platforms. The partnership will leverage the strengths of both companies to develop better gaming experiences that combine play-to-earn mechanics, multichain support, and non-fungible tokens. The combined effort between Katana Inu and Boba Network will provide players with fast, efficient transactions and exciting new NFTs. Overview of Katana Inu and Boba Network Katana Inu is a decentralized gaming platform that allows players to earn rewards by participating in various games and activities. It is an exciting PC game that combines cryptocurrency, NFTs, and battle royale

Investor David Sacks: Second Regional Bank Experiences Bank Run Following SVB Collapse

1 year ago 1 min read

Investor David Sacks: SVB Collapse Triggers Bank Run at Another Regional Bank

Former PayPal executive and tech investor David Sacks has revealed that another bank run is underway at a second regional bank, following the sudden collapse of Silicon Valley Bank. In an interview with UnHerd, Sacks stated that he knew of at least one other bank that was facing mass withdrawals from corporate clients. While Sacks declined to name the bank in question, he stated that there were other regional banks whose stocks had dropped by 20% on Thursday and Friday, indicating that the market was throwing the question of whether the SVB problem would spread. Sacks also noted that the

1 year ago 1 min read

Coinbase CEO Considers Adding Banking Features Amid Silicon Valley Bank Turmoil

The cryptocurrency industry has been rocked by the closure of three major American banks, including Silicon Valley Bank (SVB), which has traditionally served startups across several innovation sector industries. The closure of SVB was particularly devastating, as USD Coin (USDC) issuer Circle had over $3.3 billion of its $40 billion reserves locked up in the bank. The news caused shockwaves through the industry, with the USDC stablecoin briefly losing its $1 peg. Given the tumult of the past few days, the cryptocurrency ecosystem is now taking a closer look at ties to traditional finance institutions that serve fiat currency deposits,

1 year ago 1 min read

Signature Bank Folds Under Pressure After SVB’s Demise

The recent closure of Signature Bank in New York has sent shockwaves through the crypto industry, with authorities citing concerns over the spread of the banking meltdown as the reason for the shutdown. The bank, which had a market value of $4.4 billion on Friday, had been a proponent of digital asset liquidity, offering clients swift payments between exchanges, hedge funds, and other businesses. However, the closure of Silicon Valley Bank earlier in the week had caused many of Signature’s anxious business clients to inquire about the security of their deposits. With the majority of depositors having more than $250,000

Federal regulators have closed Signature Bank

1 year ago 1 min read

Signature Bank Collapses, Prompting Federal Authorities to Take Action

In another blow to the US banking industry, Federal regulators have closed Signature Bank, citing systemic risk. The closure comes after Silicon Valley Bank’s closure sparked fears across the country. The Federal Reserve expressed concerns about the systemic risks posed by the crypto-focused bank, marking the latest bank to be shut down. The Federal Deposit Insurance Corporation (FDIC) has announced that it will make all depositors of Signature Bank whole. The move is a bid to protect the country’s economy, with regulators seeking to strengthen public confidence in the banking system. They are confident that measures taken after the 2008

TrueUSD, announced on Monday that it has paused minting and redemption for users with Signature Bank.

1 year ago 1 min read

Signature Bank Closure Only Affects a Fraction of TrueUSD Users, Company Confirms

Techteryx, a Singapore-based stablecoin issuer that issues TrueUSD, announced on Monday that it has paused minting and redemption for users with Signature Bank. However, the suspension does not affect the rest of its banking network. This disclosure follows the December report from the stablecoin issuer, which revealed that it spreads its holdings across several depository institutions in the U.S., Hong Kong, and the Bahamas. Currently, TrueUSD has a market capitalization of over $2 billion, and according to Nansen.ai data, Binance is the exchange with the largest holdings of TrueUSD, holding $428 million. However, TrueUSD has been knocked off its peg

IMF's report highlighted the potential risks associated with the proliferation of cryptocurrencies

1 year ago 1 min read

IMF Warns G-20 of Potential Impact on Banks from Widespread Crypto Use

The International Monetary Fund (IMF) has cautioned that the widespread use of crypto assets could pose a threat to banks, leading to a potential loss of deposits and limited lending. The IMF’s report on the “Macrofinancial Implications of Crypto Assets,” presented to the Group of 20 (G-20) in February, was recently made public. The report highlighted the potential risks associated with the proliferation of cryptocurrencies, including its impact on monetary policy, capital flow management, and fiscal sustainability. Additionally, the report stated that central banks’ reserve holdings and the global financial safety net might require modifications to ensure stability. The IMF

Bitcoin whales and sharks have accumulated a staggering $821.50 million worth of BTC

1 year ago 1 min read

Whales Accumulate Over $820 Million Worth of Bitcoin in One Week

Crypto analytics firm Santiment has reported that Bitcoin whales and sharks, or addresses holding 10 to 10,000 Bitcoin, have accumulated a staggering $821.50 million worth of BTC in the past week. This comes as the value of Bitcoin fell below $20,000, prompting some investors to buy the dip. Despite the heavy accumulation from the largest Bitcoin holders, Santiment suggests that investors should keep an eye on the traditional markets for clues on what comes next for BTC. The correlation between crypto and equities is a key factor to watch. Interestingly, the analytics firm also notes a shift in trader behavior,

DEXs Uniswap and Curve experienced a surge in trading volumes

1 year ago 1 min read

USDC Emerges as the Top Trading Asset on Uniswap and Curve, Breaking DeFi Records

Decentralized exchanges (DEXs) Uniswap and Curve experienced a surge in trading volumes over the weekend as traders rushed to exchange their USDC holdings for other tokens, particularly wrapped ether (WETH) and tether (USDT). This surge in trading volume resulted in Uniswap recording nearly $12 billion in trading volume over a 24-hour period from Saturday to Sunday, while Curve recorded nearly $8 billion in trading volume. DEXs operate differently than centralized exchanges as they rely on smart contracts to facilitate trades, eliminating the need for intermediaries. Users deposit their tokens to pools to provide liquidity to the platform, receiving rewards in