Day: January 5, 2023

ECB official urges CBDC development for the good of cryptocurrency and consumers

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European Central Bank (ECB) executive board member Fabio Panetta has been a vocal supporter of central bank digital currency (CBDC) and cryptocurrency sceptic, and he presented his latest argument for CBDC on Jan. 5. Writing on the official ECB blog, he said that, by developing CBDCs, central banks “will safeguard the trust on which private forms of money ultimately depend.” Panetta began his argument with a harsh appraisal of cryptocurrency in 2022. “Last year marked the unravelling of the crypto market as investors moved from the fear of missing out…

US senator behind efforts to pass major crypto bill won’t seek re-election

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Michigan Senator Debbie Stabenow, chair of the United States Senate Agriculture Committee, has announced that she will be leaving office in 2025. In a Jan. 5 announcement, Stabenow said she would finish the remainder of her 6-year term in the Senate, then “pass[ing] the torch” to other U.S. lawmakers. The senator was one of the lawmakers behind introducing the Digital Commodities Consumer Protection Act, or DCCPA — a bill aimed at establishing additional regulatory clarity for cryptocurrencies and the role the Commodity Futures Trading Commission would play in overseeing digital…

Anyone Who Took Money From FTX Ought to Repay It

This is of course complicated by the fact that much of the capital has already been spent – like at Vox’s Future Perfect project, a recipient of funds from Sam and his brother Gabriel’s nonprofit Building a Stronger Future. Unlike, say, The Block’s former CEO Mike McCaffrey, who was essentially bribed with “loans” to fund the outfit and buy real estate, Vox cannot just liquidate an ill-gotten Bahamian apartment. Future Perfect’s reporting was paid for and published (and a lot of it is great). The project is on pause, but…

Whales’ Appetite For Cardano Gives ADA Price A Boost

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Following the overall decline in the crypto market, Cardano recorded a two-year low. The coin fell to $0.24 through a four-week bearish impact. ADA lost over 25% of its value through its fall in December 2022. Volatility remains one of the notable attributes of the crypto industry. Sometimes, the price action of crypto assets is the main attractive aspect for traders and Investors as they reap massively when there is high volatility. However, Cardano’s token is gradually staging a rebound this January. ADA has impressively reclaimed about a third of…

MicroStrategy, Marathon Digital Shares Fall Amidst Crypto Bank Silvergate’s Woes

Outside of the lending activities, Silvergate also has high flying crypto firms as corporate banking customers through its Silvergate Exchange Network (SEN) Leverage program, which issues U.S. dollar loans using bitcoin as collateral. Some of the companies in the SEN network include Coinbase (COIN), the now-defunct FTX, Paxos, Crypto.com, Gemini, Kraken and Circle, according to a recent investor presentation. Source

BBBY Shares Plunge 23% as Bed Bath & Beyond Hints at Bankruptcy

Amid the growing concern in the shares of BBBY, the stock is down by as much as 23.23% after previously hitting an All-Time Low (ATL).  An American chain of domestic merchandise retail stores Bed Bath & Beyond Inc (NASDAQ: BBBY) has finally given a more concerning insight into its distressed financial state and has hinted at a potential bankruptcy as a way to move forward from its current woes. The company has been recording low sales, further fueling a liquidity crunch that has left the firm to consider other viable…