Day: March 18, 2023

Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B

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The market capitalization of Bitcoin (BTC) has added $194 billion in 2023. Its 66% year-to-date (YTD) growth is vastly outperforming top Wall Street bank stocks, particularly as fears of a global banking crisis are rising. BTC market cap daily performance chart. Source: TradingView Moreover, Bitcoin has decoupled from U.S. stocks for the first time in a year, with its price rising about 65% versus S&P 500’s 2.5% gains and Nasdaq’s 15% decline in 2023.  SPX and NDAQ YTD performance vs. BTC/USD. Source: TradingView  Wall Street banks lose $100B in 2023…

The NFT Louvre Exhibit That Wasn’t: Untangling the Public Mess of a Non-Event

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Russian Parliament Votes on Bill Opening Door for Digital Ruble – Finance Bitcoin News

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Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower house of Russian parliament, the State Duma, has adopted in the first reading a bill introducing legislative changes necessary for the realization of the digital ruble project. Most notably, it seeks to amend the law…

Diversified set of guardians required for safe self-custody: Vitalik Buterin

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Ethereum co-founder Vitalik Buterin has emphasized the importance of having a varied set of “guardians” to maximize the safety of crypto asset self-custody via multisig and social recovery wallets. Given the ever-growing rate of crypto scams and hacks over the past few years, and several major crypto firms going bust in 2022, the importance of self-custody and maintaining sufficient wallet safety procedures has never been more important. In a March 16 Reddit post on the r/ethereum community titled “How I think about choosing guardians for multsig and social recovery wallets,…

Baron Davis Launches SLiC, a Web3 Platform for Athlete Creators and Fans

One of the first verticals Davis will launch is SLiC Images, which aims to be a decentralized platform, file storage product and licensing system for photographers – pros and amateurs alike. “If a picture says 1,000 words, we want to capture history now because in blockchain and Web3 those words can live for 1,000 years,” says Davis, who opens up about the goals of SLiC, how he sees athletes using social tokens and utility tokens in the future, and why even in the bear market, despite all the negative press,…

More 186 US banks well-positioned for collapse, SVB analysis reveals

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The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of Silicon Valley Bank (SVB). Comparing SVB’s situation with other players revealed that nearly 190 banks operating in the United States are at potential risk of a run. While SVB’s collapse came as a reminder of the fragility of the traditional financial system, a recent analysis by economists showed that a large number of banks are just uninsured deposit withdrawals away from a devastating collapse. It read: “Even if only half…

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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners – Regulation Bitcoin News

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The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in Ongoing Regulatory Efforts The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has asked Finance Minister Anton Siluanov to explain a proposal made by his department to introduce penalties for cryptocurrency miners violating the…