Browsing:Crypto

Bitcoin saw a significant surge in value on March 19
7 days ago 1 min read

Bitcoin Surges to $28k Amidst Banking Uncertainty

Bitcoin, the leading cryptocurrency, saw a significant surge in value on March 19, surpassing the $28,000 zone with a 16% boost in value in the past seven days. At the time of writing, Bitcoin was trading at $28,063, indicating a 2.4% increase in the past 24 hours. The price of Bitcoin hit its highest point at $28,459 during the day before trading at $26,877 during the day’s low. The cryptocurrency gained over 37% against the US dollar this week, with a market capitalization increase of $194 billion in 2023, representing a 66% gain year-to-date. Bitcoin has outperformed Wall Street banks

SVB UK reportedly issues 15M pounds in bonuses following "symbolic bailout"
1 week ago 1 min read

Silicon Valley Bank UK awards 15 Million pounds in bonuses after receiving “symbolic bailout”

HSBC-owned Silicon Valley Bank UK (SVB UK) has reportedly granted £15m to £20m ($18.26 million to $24.35 million) in bonuses to staff and executives, just days after being acquired by HSBC for £1 ($1.22). According to unnamed sources cited in a March 18 Sky News report, HSBC UK Bank authorized the payments, which were described as “modest.” The insiders added that if SVB UK had not been acquired “solvently,” the bonuses would not have been paid, but the payout is a signal of HSBC’s confidence in the talent at SVB UK and a move to retain key staff. SVB UK’s

Vietnam has emerged as the world leader in cryptocurrency adoption
1 week ago 1 min read

Vietnam’s Crypto Market Shows Explosive Growth with 16.6 Million Holders, Study Finds

Vietnam has emerged as the world leader in cryptocurrency adoption, with a staggering 16.6 million Vietnamese owning digital currencies, according to the “Vietnam Crypto Market Report 2022.” Bitcoin is the most popular digital asset in the country, with 31% of Vietnamese crypto holders investing in it. The report found that Thailand is the only country in the Association of Southeast Asian Nations (ASEAN) with more cryptocurrency investors than Vietnam. Apart from having a large number of crypto investors, Vietnam is also home to several blockchain projects focused on GameFi (Game Finance), NFTs, and Web3. Seven of the top 200 blockchain

Is BlackRock Embracing the Future of Investing with Stock Tokenization?
1 week ago 1 min read

BlackRock Considers Tokenization of Stocks

BlackRock, the world’s largest asset management company, is exploring the potential of digital assets, particularly the tokenization of asset classes, as noted by CEO Larry Fink in a recent letter to investors. Mr. Fink highlighted the advancements happening in emerging markets, particularly in digital payments, which are advancing financial inclusion and lowering costs. He also noted the potential of tokenization of assets, which could revolutionize the asset management industry, shorten value chains, and improve cost and access for investors. BlackRock is actively exploring the tokenization of stocks and bonds, particularly in areas most relevant to their clients, such as permissioned

Bitcoin has now been running non-stop
1 week ago 2 mins read

Zero Downtime, 10 Years Strong: Bitcoin’s Uninterrupted Performance

Bitcoin (BTC) has reached an incredible milestone that cements its place in financial history. The cryptocurrency has now been running non-stop for a decade without any downtime. This is a remarkable achievement, as it shows that the network is incredibly reliable and can operate continuously, 24 hours a day, seven days a week. The milestone was discovered through data retrieved from BitcoinUptime, shared by Reddit user Tasigur1 on March 17. According to the data, Bitcoin has run continuously for 3,650 days, making it a remarkable achievement for the cryptocurrency. Since its inception in 2009, the Bitcoin network has suffered two

AllianceBlock and ABO Digital Partners To Offer Alternative, Structured Financing for Crypto Projects
1 week ago 5 mins read

AllianceBlock and ABO Digital Partners To Offer Alternative, Structured Financing for Crypto Projects

Utrecht, Netherlands, 16th March, 2023 AllianceBlock, the company building seamless gateways between TradFi and DeFi through its decentralized and trustless infrastructure, announced today it’s partnering with ABO Digital, the private digital asset investment arm of Alpha Blue Ocean, to offer tokenized structured products for institutions and crypto projects and institutions seeking alternative forms of financing.  Through its first-of-its-kind partnership with ABO Digital, AllianceBlock will leverage its decentralized and trustless blockchain infrastructure and the Nexera Protocol to tokenize traditional financial instruments and the option to wrap them into traditional Actively Managed Certificates (AMCs) for capital providers that do not want to hold

Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar, to Combat Centralized Stablecoins
1 week ago 3 mins read

Sovryn Introduces Decentralized Bitcoin-Backed Sovryn Dollar, to Combat Centralized Stablecoins

London, United Kingdom, 16th March, 2023 Sovryn, the leading Bitcoin-based decentralized finance (DeFi) platform, launches the Sovryn Dollar (DLLR). The Sovryn Dollar introduces a new standard of stablecoin, 100% backed by Bitcoin to provide unparalleled censorship-resistance, security, and reliability. In response to the regulatory and banking problems centralized stablecoins have recently experienced, the Sovryn Dollar offers a decentralized alternative, backed by and redeemable for, Bitcoin. The Sovryn Dollar goes live today and is available globally.   The Sovryn Dollar offers users the opportunity to hold a stable and reliable digital asset that is pegged to the US dollar without being exposed

Signature Bank Failure Tied to Crypto Volatility, Says US Lawmaker
1 week ago 1 min read

Lawmaker Blames Crypto Instability for Signature Bank’s Collapse

United States senator Michael Bennet has criticized banks associated with crypto firms for making “prudentially unsound” decisions. During a hearing of the Senate Finance Committee on March 16, Bennet referred to the recent closure of the crypto-friendly Signature Bank and compared the relationship between banks and crypto firms to that of institutions and marijuana dispensaries. Bennet stated that a legal service in many U.S. states, marijuana dispensaries, is “frozen out of the financial system” while Signature Bank failed, with almost a fifth of its deposits coming from crypto. Bennet implied that crypto may have been a factor in the bank’s

Eleven major US banks have made a bold move to deposit a total of $30 billion
1 week ago 1 min read

US Banks Trust First Republic Bank with $30 Billion in Deposits During Volatile Month

Eleven major US banks have made a bold move to deposit a total of $30 billion into the troubled First Republic Bank. Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo each made an uninsured deposit of $5 billion, while Goldman Sachs and Morgan Stanley each made a deposit of $2.5 billion. BNY-Mellon, PNC Bank, State Street, Truist, and U.S. Bank each made a deposit of $1 billion. First Republic Bank has been facing a tumultuous month, with its stock price plummeting 74% from $115 to $35. The bank had $212 billion in total assets as of last year, but

ArenaDAO's Token ARENA
1 week ago 1 min read

ArenaDAO’s Governance Token Skyrockets Nearly 50% After Successful Vote on Paradigm Purchase

ArenaDAO’s governance token, ARENA, has experienced an 11.12% increase in the past hour and a whopping 48.99% surge in the past 24 hours, as the voting period for authorizing crypto investment firm Paradigm to purchase 150 million tokens or 15% of the total supply for $6 million USDC opened. The fully diluted valuation or market capitalization of all tokens in circulation currently stands at $79.8 million, according to Dex Screener, with a 24-hour volume of roughly $61,000, as reported by GeckoTerminal. Data from Nansen shows that 142 unique addresses are holding ARENA, which is a 10% increase since Monday. The

the founder of Cardano, addressed concerns about the network’s governance structure, reassuring ADA enthusiasts
1 week ago 1 min read

Charles Hoskinson Addresses FUD Over Cardano’s Governance: What You Need to Know

Charles Hoskinson, the founder of Cardano, recently addressed concerns about the network’s governance structure, reassuring ADA enthusiasts and users that development processes will be robust and transparent. In a March 16 video, Hoskinson responded to FUD (fear, uncertainty, and doubt) about CIP 1694, a new governance proposal set to usher in the age of Voltaire to Cardano. The Voltaire era of Cardano will be the fifth major phase of the Cardano blockchain, and is expected to lay out the foundations for decentralized decision-making, ushering the network into a self-sustaining system. Thus, CIP 1694 seeks to build on and extend the

Hackers Breach Euler Finance Despite CEO's Claims of Extensive Auditing
1 week ago 1 min read

Euler Finance Suffers $196M Attack Despite 10 Audits in 2 Years, Says CEO

Despite undergoing 10 separate audits by six different firms over a two-year period, Ethereum-based lending protocol Euler Finance fell victim to a $196 million flash loan attack on March 13. Euler Labs CEO, Michael Bentley, described the attack as one of the “hardest days” of his life in a series of tweets on March 17. The audits conducted by blockchain security firms, including Halborn, Solidified, ZK Labs, Certora, Sherlock, and Omnisica, had deemed the platform to be “nothing higher than low risk” and having “no outstanding issues” prior to the attack. Halborn, which conducted its audit from May 2021 to

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