“We are now a fully-fledged bank with a USD bank account, which we thought is most appealing to emerging markets,” Rocca said. “If you think about the U.S. and places like Europe, people are predominantly looking at crypto almost as a form of gambling. Whereas in places like Argentina, Venezuela, Lebanon, Nigeria, where currencies devalue and you can have hyperinflation, Bitcoin can change people’s lives.” Original
Cryptocurrency exchange Coinbase announced that it had terminated its partnership with Silvergate Bank as its U.S. dollar banking partner, citing the ongoing investigation. In an announcement tweet, the exchange said: “In light of recent developments & out of an abundance of caution, Coinbase is no longer accepting or initiating payments to or from Silvergate.” The crypto exchange will facilitate institutional client cash transactions with their other banking partner Signature Bank. The decision will not impact payment instructions in GBP or euro. This is a developing story, and further information will…
DMG Blockchain Solutions reports a net loss of $7.0 million in Q1 2023 despite mining 50% more bitcoin than the previous year. The company attributes the loss to lower revenues and increasing operating costs. Crypto mining firm DMG Blockchain Solutions Inc. (DMG) has announced its unaudited financial results for the first quarter of 2023. The company reported a revenue of $7.2 million, a 50% decrease from the previous year’s quarter, primarily due to a decline in the average bitcoin price. However, DMG was able to mine 50% more bitcoin than…
Bitcoin fell into the red on March 2, as markets reacted to further negative data from the United States. The nation’s manufacturing sector contracted for a fourth straight month in February, which comes as consumer confidence also fell last month. Ethereum was also lower, retreating from yesterday’s high. Bitcoin Bitcoin (BTC) fell lower in today’s session, as markets reacted to news that the U.S. manufacturing sector remained in contraction territory. In its monthly report, the ISM’s manufacturing index came in at 47.7, and typically any reading below 50.00 indicates contraction.…
JPMorgan cut its recommendation on the stock to “Underweight” from “Neutral” and withdrew its price target. Source
A proposal by Nouns revealed that Peleg was offered $140,000 in funding for the 3D-printed fashion collection. A web3 enthusiast and fashion designer Danit Peleg recently showcased her first 3D-printed fashion collection inspired by 3D NFT community Nouns. Since Nounces went live in 2023, the Ethereum project auctions a new non-fungible token each day. Also, proceeds from the digital collectible go to an open-source intellectual property. The fashion designer displayed her 3D-printed fashion collection at the NFT Paris Conference, which was held on the 24th and 25th of February. Popular names…
The letter, from Senators Elizabeth Warren (D-Ma), Chris Van Hollen (D-Md) and Roger Marshall (R-Ks) said that Binance and related entities “have purposefully evaded regulators, moved assets to criminals and sanctions evaders and hidden basic financial information from its customers and the public,” WSJ reported. Source
Coinbase (COIN) is no longer using Silvergate to facilitate dollar payments for its institutional customers and will now use Signature Bank (SBNY) for payments, the exchange said Thursday. Coinbase said it switched from Silvergate “out of an abundance of caution” in a tweet, adding that it has minimal exposure to the crypto-focused bank. Source
Blockchain technology continues to make its way into mainstream view, as many companies adopt the technology as a part of their operations. In the push for adoption of this technology comes the simultaneous need for more education on the technology. A new partnership announced on March 2 between the Polygon blockchain network and Mercy Corps Ventures, the investment arm of the humanitarian organization Mercy Corps, focuses on bringing blockchain education and opportunities to underserved communities. According to the announcement, the new partnership has three primary objectives in its effort to…
8VC has been investing in diverse businesses and companies from sectors such as life sciences, logistics, IT infrastructure, financial services, government and defense, consumer, and enterprise. 8VC, the Austin-based venture capital firm led by Palantir founder Joe Lonsdale, has raised a staggering $880 million in its fifth funding round. This news comes despite greater macro uncertainty and the drying up of capital in global markets. In his recent blog post, Lonsdale, who is also 8VC’s general partner, stated that the firm’s mission is to “fix a broken world”. He further…