Investors Urged to Exercise Caution – Bitcoin News

According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and Due Diligence When Using Proof-of-Reserve Reports The U.S. accounting watchdog recently issued an advisory warning about auditors using proof-of-reserve (POR) techniques to audit specific crypto companies, such as exchanges and stablecoin issuers. The Public Company Accounting Oversight Board (PCAOB) stated that it is aware of certain PCAOB-registered audit…

Crypto industry braces for impact with Silvergate exit

The closure of Silvergate Bank is not a systematic risk for the United States banking system but could have a significant impact on the crypto markets, multiple sources told Cointelegraph. The consequences may include increasing banking concentration among a few partners and presenting challenges for venture capital firms seeking to establish banking relationships in the country. Silvergate had been a crypto-fiat gateway network for financial institutions and a significant on-ramp for cryptocurrencies in the United States, but on March 8, its parent company, Silvergate Capital Corporation, disclosed its plans to…

CBDCs threaten our future, so it’s time to take a stand

If the development of blockchain technology was a financial revolution, central bank digital currencies (CBDCs) are the counter-revolution. Their development has intensified in 2023 across the globe, and it’s now more important than ever for the world to know what could lay behind the acronym. While there are some who think central banks can be trusted to proceed, the facts stand against them. This technology would give central banks unprecedented control, could pose serious security risks and is also entirely unnecessary. If you understand blockchain, you also understand the privacy…

Bitcoin price drops to $20.8K as regulatory and macroeconomic pressure mounts

Bitcoin (BTC) traders saw continued downward pressure after the 5.5% decline in BTC price on March 7. Higher odds of further interest rate increases by the U.S. Federal Reserve and regulatory pressure in the cryptocurrency space explain some of the movement. Financial markets showed signs of stress as the inverted bond curve reached its highest level since the 1980s. Longer-term dated yields have stalled at 4%, while two-year treasury notes traded above 5% yield in March. Since July, longer-dated treasury yields have failed to keep pace with the surging two-year…

Bitcoin BTC Price Dips Below $21K to Reach Lowest Level In 7 Weeks as Silvergate Bank Shutdown Shakes Investors

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MakerDAO Founder Calls for Rebranding of DAI Stablecoin

DAI, the fourth-largest stablecoin, with a market cap near $5 billion – and the only top stablecoin backed by a basket of assets, including other cryptocurrencies – suffers from bad branding that could be inhibiting its growth, Christensen said during a call to discuss the protocol’s decentralization plan, called “Endgame.” Source