Day: March 17, 2023

SVB collapse chilled NFT trading volumes: DappRadar

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Nonfungible token (NFT) trading volumes took a massive beating following the collapse of Silicon Valley Bank (SVB) last week as traders fled the markets fearing the repercussions of a major United States bank going under. According to a March 16 report from data aggregation platform DappRadar, NFT trading volumes were hovering between $68 million to $74 million in the lead-up to SVB’s collapse on March 10, then fell to $36 million on March 12. The dip was accompanied by a 27.9% drop in daily NFT sales count between March 9…

Doodles ‘no longer an NFT project,’ Playboy bares all on NFT earnings and more

Identity crisis: Cofounder of doodles says it’s not an NFT project One of the co-founders of nonfungible token (NFT) project doodles says it is going to pivot away from being an “NFT project” to becoming a “leading media franchise.” In a March 18 post on the project’s Discord, one of the doodle’s founders, Jordan Castro — who goes by the pseudonym “poopie” online — said it wanted to move away from financial speculators. “We’re trying to go from a startup to a leading media franchise. We are no longer an…

Argentina Registers 6.6% CPI in February; Inflation Numbers Blast Past 100% YoY for First Time Since the 90s – Economics Bitcoin News

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The National Institute of Statistics and Census of Argentina released February’s numbers for the consumer price index (CPI), registering an increase of 6.6%, a consequence of the rises in prices of food and beverages principally. The number is among the highest in the history of Argentina, reaching more than 100% growth year-on-year (YoY), something that has alarmed local analysts. Argentina Registers Record CPI Levels in February The National Institute of Statistics and Census in Argentina released the inflation numbers for February, alarming local analysts. According to the report, February’s monthly…

Open Zeppelin Reveals Top 10 Blockchain Hacking Techniques in 2022

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Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash

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The collapse of Silicon Valley Bank (SVB) saw investors loading their bags with USD Coin (USDC), along with an exodus of funds from centralized exchanges (CEXs) to decentralized exchanges (DEXs). Outflows from centralized exchanges often spike when the markets are in turmoil, explained blockchain analysis firm Chainalysis in a March 16 blog post, as users are likely worried about losing access to their funds when exchanges go down. Funds sent from CEXs to DEXs following SVB’s collapse. Source: Chainalysis. Data from Chainalysis shows that hourly outflows from CEXs to DEXs spiked…

Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards – Regulation Bitcoin News

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U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth Warren’s Letter to Signature Bank’s CEO U.S. Senator Elizabeth Warren (D-MA) has attributed the failure of Signature Bank to its acceptance of crypto customers without having sufficient safeguards, Yahoo Finance reported Thursday. Signature Bank was seized by the New York State…