US Senator Calls for Investigation Into Bank Failures — Says Fed Chair Powell ‘Bears Direct Responsibility’ – Economics Bitcoin News

U.S. Senator Elizabeth Warren has called for a “thorough, independent investigation of the causes” that led to the failure of Silicon Valley Bank (SVB) and Signature Bank. She alleges that Federal Reserve Chairman Jerome Powell “bears direct responsibility” for regulatory and supervisory issues involving the two banks. Senator Elizabeth Warren Calls for Independent Investigation Into Bank Failures U.S. Senator Elizabeth Warren (D-MA) called for an investigation into the recent collapse of major banks in a March 18 letter to the Treasury Department’s deputy inspector general, the Federal Deposit Insurance Corporation…

Venezuela overhauls national crypto department

Venezuela’s president Nicolás Maduro has announced the reorganization of the National Superintendency of Crypto Assets, known as Sunacrip in Spanish, according to a decree issued on March 17. A new board will lead the reorganization, headed by Anabel Pereira Fernández, a lawyer who served as president of the Fondo de Garantía de Depositos y Protección Bancaria (FOGADE), the Venezuelan version of the United States Federal Deposit Insurance Corp. (FDIC). Among the other directors are Héctor Andrés Obregón Pérez, Luis Alberto Pérez González, and Julio César Mora Sánchez. Without providing any…

‘Self-Custody Should Mean the Ownership of Everything About You’ Says Sharering’s Tim Bos – Interview Bitcoin News

According to Sharering, a blockchain-based platform enabling the creation and use of “self-sovereign” verifiable credentials, millions of potential world wide web users are still disconnected from the internet because they lack required or verifiable identities, among other things. Without such verifiable identities or credentials, many disadvantaged groups, including refugees, are thus precluded from accessing information from the web that may enhance their way of life. Sharering on Proving ID Online To help such disadvantaged groups overcome this challenge, tech entrepreneurs and blockchain startups like Sharering have proposed or created a…

Bitcoin hits $28k as uncertainty surrounds banks

At the time of writing, the leading cryptocurrency is trading at $28,063, a 2.4% increase in the past 24 hours. The price reached $28,459 at its highest point during the day, before trading at $26,877 during the day’s low. Overall this week, Bitcoin has gained over 37% against the U.S. dollar. Bitcoin’s market capitalization added $194 billion in 2023, representing a 66% gain year-to-date, outperforming Wall Street banks stocks especially as fears of a global banking crisis are rising. United States bank valuations have slid amid the ongoing fear surrounding…

Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday – Market Updates Bitcoin News

Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the cryptocurrency’s overall market capitalization has swelled to $546 billion. Global Cryptocurrency Market Valuation Increases by 1.11% to $1.18 Trillion; Bitcoin Dominance Remains Above 45% At just before 3 p.m. ET on March 19, 2023, bitcoin (BTC) surpassed the $28,000 zone, rising to $28,422 per unit on…

UBS Group doubles offer and acquires Credit Suisse for $2B

UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times reported. UBS previously put a $1 billion offer on the table on March 18, but the deal was rejected by the Credit Suisse board, FT sources said. The $1 billion offer was a considerable discount under the bank’s market value on March 17 of nearly $8 billion, according to data from Companies Market Cap. To…

Crypto projects raised over $4m despite US banking crisis

Despite growing concerns in the United States banking industry, the crypto industry stands firm, raising over $4m through token sales last week. On Mar. 19, CryptoRank data revealed that despite a contraction, the amount raised had increased significantly; showcasing the resilience and adaptability of the crypto industry. Collapse of major US banks affects the crypto industry The data showed that the crypto industry raised $4.11m through token sales, despite decreased token sales the previous month. The total raised in the last two months totaled an impressive $6.89b, up from last month’s $933.55m,…