Day: March 2, 2023

US Treasury-led CBDC Working Group looking at technical issues, national interest

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The United States Treasury Department is continuing to consider design decisions relating to the introduction of a central bank digital currency. Under Secretary for Domestic Finance Nellie Liang gave an audience at the Atlantic Council a rundown on March 1 of technical and policy issues the Treasury-led CBDC Working Group is looking at. Liang looked at both wholesale and retail CBDC (wCBDC and rCBDC), saying wCBDC raised more technical questions, whereas an rCBDC involved access issues. She mentioned in particular that “institutions not currently eligible for central bank accounts” could…

MicroStrategy Says It Doesn’t Have Any Assets Custodied With Silvergate

MacroStrategy, MicroStrategy’s subsidiary that handles its bitcoin purchases and holdings, received a $205 million loan from Silvergate Bank in March 2022 through its Silvergate Exchange Network (SEN) Leverage program. The loan is due in the first quarter of 2025 and that timing will not change, the company wrote in its tweet. Source AssetsBitcoincryptoexchangeCustodieddoesntExchangesMicroStrategySilvergate CryptoX Portal

Fast-Growing dApp Sweat Economy Set for September US Launch Date to Encourage Healthier Living among Americans

Health and fitness platform Sweat Economy is finally set for a US launch to incentivize exercise, amid Web3 awareness growth.  Emerging decentralized application (dApp) Sweat Economy plans to launch in the US this September. The arrival of the Web3 project and its native $SWEAT token in America will coincide with its September 12th global launch. As a dApp initiative designed to unlock the economic value of movement, Sweat Wallet has consistently ranked in DappRadar’s Top 10 Blockchain Dapps. This lofty ranking dates back to Sweat’s Token Generation Event (TGE) last…

Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing – Bitcoin News

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On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s delay of its annual 10-K filing with the U.S. Securities and Exchange Commission (SEC) and JPMorgan’s downgrade of the company’s shares from “neutral” to “underweight.” Coinbase Cuts Ties With Silvergate Bank, Firm’s Shares Expected to Be Highly Volatile After Recent Developments Coinbase announced on Thursday that it is no longer accepting or initiating any payments…

NEAR protocol releases blockchain operating system for Web3

The decentralized application (DApp) NEAR protocol is releasing a new blockchain operating system, focusing on improving user experience on Web3 through a common layer for browsing and discovering open web resources, the company disclosed at the Web3 and innovation festival ETHDenver 2023. In an interview with Cointelegraph’s Turner Wright during the event, NEAR co-founder Illia Polosukhin spoke on how the ecosystem is moving closer to user’s needs and the release of the Blockchain Operating System (BOS). According to the NEAR’s team, the system works with any blockchain or Web2 backend,…

Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank

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Several crypto firms have announced they will scale back or outright terminate their relationship with Silvergate Bank following an announced investigation into its alleged involvement in the FTX collapse. Amid news that crypto exchange Coinbase would no longer accept or initiate payments with Silvergate, companies including stablecoin issuers Paxos and Circle and Mike Novogratz’s Galaxy Digital have announced similar actions regarding their partnerships with the crypto bank. Galaxy Digital announced on March 2 that it had stopped accepting or initiating transfers to the bank “out of an abundance of caution.”…

Former NBA Player Baron Davis Says Celebs Will Be Drawn to ‘Utility’ Crypto Tokens

The project, which is still under development, will live on non-fungible-token platform Mintbase. By using blockchain technology, the platform is “building out a core database and a publishing back end that allows these photographers to be able to license their photos” on social-media websites and in magazines, Davis said. Source BaronCelebsCryptoDavisDrawnNBAPlayerTokensUtility CryptoX Portal