Day: March 4, 2023

Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner – Bitcoin News

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On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The cryptocurrency exchange Bybit, founded in 2018, announced on Saturday that it is suspending U.S. dollar deposits. “Bybit has suspended USD deposits via bank transfer due to service outages from our partner,” the company said. “Effective immediately, USD deposits…

DOJ seeks to narrow Sam Bankman-Fried’s bail terms, use only flip phones

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The United States Department of Justice has proposed new bail conditions for former FTX CEO Sam Bankman-Fried (SBF), a court filing made late March 3 shows.  According to the proposal submitted to District Judge Lewis Kaplan of the Southern District of New York, Bankman-Fried should be prohibited from using smartphones, tablets, computers and any type of video game platforms or devices that allow chat and voice communication. The proposal restricts his communication to “a flip phone or other non-smartphone with either no internet capabilities or internet capabilities disabled.” The document…

Galaxy Digital Report Predicts Bitcoin NFT Market Could Reach $4.5 Billion by 2025 – Bitcoin News

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As the number of Bitcoin-based Ordinal inscriptions nears the 300,000 mark, Galaxy Digital’s research team published a report on the subject that says the market size of non-fungible tokens (NFTs) built on Bitcoin could reach $4.5 billion over the next two years. The researchers at Galaxy think that new use cases stemming from the inscription trend will “drive growing interest and adoption” for bitcoin. Galaxy Researchers Explore the Potential Use Cases of Bitcoin-Based Ordinal Inscriptions and NFTs At the time of writing, there are more than 288,000 Ordinal inscriptions hosted…

Top US Crypto Exchange Coinbase Acquires Digital Asset Manager With Goal of ‘Bridging the Gap’ to Institutions

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Top US crypto exchange Coinbase has acquired a digital asset manager in an effort to expand further into the institutional investor space. Coinbase purchased One River Digital Asset Management (ORDAM), a subsidiary of One River Asset Management, according to a new press release. ORDAM will now operate as Coinbase Asset Management (CBAM), an independent subsidiary of the US-based crypto exchange. Greg Tusar, Coinbase’s head of institutional product, tells Bloomberg that the acquisition is about strengthening ties with institutions. “This is about wanting to bring more institutional capital into the world…

Silvergate closes Exchange Network, releases $9.9M to BlockFi

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Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets’ payment network, claiming the termination is a “risk-based decision”. The move comes after the bank’s stock fell over 59% in the past five days due to fears of a potential bankruptcy.  A disclaimer on Silvergate’s website stated: “Effective immediately Silvergate Bank has made a risk-based decision to discontinue the Silvergate Exchange Network (SEN). All other deposit-related services remain operational.”  A second decision on the same day from United States Judge Michael B. Kaplan said Silvergate had…

Italian football club, AS Roma, adopts DigitalBits and XDB

AS Roma, an Italian football club, now supports XDB, a cryptocurrency native to DigitalBits, a network that says it is a “leading blockchain for companies.” AS Roma, whose Paulo Dybala is now MonkeyLeagues brand ambassador, now becomes the first team in the history of professional football to use blockchain technology.  This is a milestone for the DigitalBits community as they strive to accelerate the adoption of crypto and Web3, according to Daniele Mensi, the managing director of the DigitalBits Foundation.  “As one of the big football clubs in the globe with millions of…