Decentralized apps have held up well amid the turmoil that is afflicting the crypto industry. While Coinbase is among the largest and most influential of the centralized crypto trading platforms, the firm clearly understands the value attached to ecosystems and hence the drive to incubate a decentralized blockchain network. Source link
Bitcoin, the most popular cryptocurrency, increased in price by 18% in the last 24 hours to surpass $26,000 just after the U.S. CPI report was published. The report showed that U.S. inflation slowed to 6% in February from 6.4% in January. Shortly after the news, bitcoin rose to $26,429 to hit a 9-month high. BTC hits 9-month high According to the Bureau of Labor Statistics (BLS), February inflation growth in the United States decreased from 0.5% in January to 0.4%, as predicted by experts. Per expectations, the annual inflation rate…
The ongoing crisis of banks in the United States has many positive implications for Bitcoin (BTC), according to an executive at the hardware wallet firm Trezor. On March 14, Bitcoin broke $26,000, a price level not seen since June 2022, posting the biggest gains this year so far. The multi-month high followed a series of shocking events in the U.S. banking industry, with banks like Silicon Valley Bank (SVB), Silvergate and Signature shutting down operations. According to Trezor’s Bitcoin analyst Josef Tetek, the current sharp rise of Bitcoin price —…
Businesses across industries invest a lot of time and resources into building and cultivating their social media presences because of the big potential ROI. Social media marketing is a tool crypto and blockchain companies are quick to leverage — social media platforms offer a variety of audiences, prebuilt communities and global reach. Still, it’s all too easy to make missteps in social media outreach, and an ill-considered post can go viral (in a very bad way) in an instant and cause lasting damage to a brand. Below, 10 members of…
Etsy and its peers like Shopify have had to kickstart their restrategizing agenda. Retail merchants selling on several online marketplaces including American e-commerce marketplace Etsy Inc (NASDAQ: ETSY) are reportedly seeing delays in their payments owing to their dependence on distraught Silicon Valley Bank (SVB). As a marketplace that operates round the clock, proceeds of sales from Etsy and other firms including Shopify Inc (NYSE: SHOP) have been delayed significantly. The aftermath of the impact of the collapse of Silicon Valley Bank is just becoming more glaring and many retail…
In other SVB-related news, the Financial Group, which was the holding company of SVB, is exploring ways to sell off its other units. Private equity company Apollo Global Management is reportedly interested in the book of loans held by the now-collapsed Silicon Valley Bank (SVB). The bank has made several headlines over the past week due to its debacle that affected the entire US banking sector. Regulators have taken over SVB, and investors, including Apollo, have started eyeing the company. Apollo among Suitors Seeking to Buy Pieces of SVB According…
First Republic recently saw its shares jump 20% as the market still recovers from the collapse of Silicon Valley Bank. The shares of First Republic Bank (NYSE: FRC) spiked 40% on Tuesday. FRC’s ascension also came amid an ongoing rebound among other regional banks from yesterday’s sell-off. On Monday, the SPDR S&P Regional Banking ETF (KRE) declined by 12.3% to record its most significant one-day loss in three years. First Republic’s executive chairman Jim Herbert recently said in a media session that the bank was operating as usual. Furthermore, Herbert added…
Blockchain operator Tassat announced March 14 that it will provide access to the United States Federal Reserve’s FedNow payment system. FedNow, which will launch as a pilot project later this year, will provide real-time, round-the-clock payment service. Tassat will serve as a business-to-business onramp for FedNow through a client-facing application programming interface (API), CEO Kevin Greene told Cointelegraph. Both the company’s interbank and intrabank services will provide FedNow access. The FedNow pilot is expected to begin in June or July with a small number of banks. The system will offer…
Bitcoin nonfungible tokens (NFTs) have captured the crypto world’s attention fast, opening new opportunities for the oldest blockchain and digital art enthusiasts. Since their explosion in 2020, NFTs have been typically minted and traded on Ethereum-based platforms, besides other blockchains, such as Cardano and Solana. However, a new protocol known as Ordinals was launched in January 2023 by former Bitcoin Core contributor Casey Rodarmor, who exploited the 2021 Bitcoin Taproot upgrade to expand the cryptocurrency capability and enable on-chain Bitcoin-native NFTs. Taproot offered a way to expand the base layer’s…
Over the last week, the collapse of three of the largest banks backing the crypto scene — Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank — has many industry pundits wondering how United States-based crypto companies will fare after such losses. While it has been said that there is “nobody left to bank crypto companies,” some in the crypto space have already highlighted the remaining options. One Twitter user called out another after they said there is “basically no one left to bank crypto companies in the U.S.” by…