Day: March 19, 2023

DefiLlama forked as internal dispute unfolds

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A dispute has taken place within the decentralized finance (DeFi) analytics dashboard DefiLlama, leading the platform to be forked by one of its employees over the weekend.  The dispute centers on the company’s plans to launch a token. On March 19, pseudonymous developer at DefiLlama 0xngmi announced the firm’s team was forking the platform, which was “undergoing a hostile takeover”, accusing DefiLlama’s founders of launching a token without its employees’ support. The DefiLlama team is forking Defillama@Defillama is undergoing a hostile takeover There is an ongoing attempt to launch a…

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket – Bitcoin News

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Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends score of 100. The related topics pertain to the financial troubles of Silicon Valley Bank, Signature Bank, and First Republic Bank. Google Trends Shows Global Interest in U.S. Banking Crisis Spiked Last Week Google Trends…

Bitcoin ATM manufacturer, General Bytes, hacked for over $1.5m 

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General Bytes, a bitcoin automated teller machine (ATM) manufacturer, has lost over $1.5m of bitcoin (BTC) following an exploit on Mar. 17 and 18. General Bytes hacked In a security update on Mar. 18, General Bytes said the hacker, or a group of hackers, found an exploit on their master service interface before using it to send funds to their hot wallets. Following this hack, General Bytes was temporarily forced to shut down as it assessed the damage caused. On March 17-18th, 2023, GENERAL BYTES experienced a security incident. We released a…

Polygon supernets vs. Avalanche subnets: Key differences

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Supernets have an advanced technical architecture powered by Polygon Edge, trustless operation via Merkle trees, Ethereum Virtual Machine (EVM) compatibility and custom token support. Supernet architecture is closely tied to that of Polygon Edge. The six modules in Polygon Edge’s architecture that are relevant to supernets include the following: TX Pool: Acting as a repository for pending transactions, this module is the key to Polygon Edge’s event-driven architecture. Transactions can be added easily from multiple sources, and it seamlessly links up with other modules of the platform. Blockchain: This refers…

Crypto-friendly bank offers to rescue Credit Suisse

UBS Group AG, a crypto friendly bank, is reportedly offering to purchase Credit Suisse, a global investment bank, for up to $1b, per details on Mar. 19 . UBS to the rescue The UBS offer comes after BlackRock rejected claims to a deal to salvage Credit Suisse on March 19. UBS is offering a price of SFr0.25 a share to be paid in UBS stock which is way below the SFr1.86 closing price on Friday, Mar. 17.  😬📉The offer was communicated on Sunday morning with a price of SFr0.25 a share to…

Bitcoin rallies above $27,000 amid US banking crisis, Silicon Valley Bank drama unfolds

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This week, Bitcoin’s (BTC) upward surge was the most significant event. The coin rose above $27,000 amid a banking crisis in the United States. The situation reiterated the need for users to hedge against economic instabilities using digital assets. In the mid of this crisis, the Silicon Valley Bank (SVB) saga remained in focus as fresh details emerged. Meanwhile, the United States regulatory climate came under further criticism as industry leaders highlighted the potential dangers of unfavorable legislation. Bitcoin breaks above $27,000 Two weeks ago, bitcoin was under immense liquidation…

These 5 cryptocurrencies may continue to surprise to the upside

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Bitcoin (BTC) is on track to close the week with gains of more than 23%. The banking crisis in the United States and Europe seems to have boosted buying in Bitcoin, indicating that the leading cryptocurrency is behaving as a safe haven asset in the near term. All eyes are on the Federal Reserve’s meeting on March 21 and 22. The failure of the banks in the U.S. has increased hopes that the Fed will not hike rates in the meeting. The CME FedWatch Tool shows a 38% probability of…

Credit Suisse rescue plan may include nationalization, bondholder losses

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A rescue plan for Swiss banking giant Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse Group AG, multiple reports revealed on March 19.  Swiss authorities are considering applying losses to Credit Suisse bondholders as part of the bank’s ongoing recovery efforts, Reuters learned from two sources. European regulators are concerned that the move might undermine investor confidence in Europe’s financial sector. Another report from Bloomberg claims that the Swiss government is analyzing a full or partial nationalization of…

Bitcoin’s Ordinal Inscriptions Surpass 500,000 Mark as Miners Earn $2.66 Million in Added Fees – Blockchain Bitcoin News

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According to statistics, there are now more than 500,000 Ordinal inscriptions on the Bitcoin blockchain as the trend continues to gain significant traction. Onchain data also shows that since inscriptions started gaining popularity last month, Bitcoin miners have obtained 98 bitcoins worth $2.66 million in added fees. The Rise of Ordinal Inscriptions on Bitcoin Blockchain Ordinal inscriptions have surpassed the 500,000 mark, and at the time of writing, there are approximately 522,243 inscriptions on the Bitcoin blockchain. Essentially, the technology behind Ordinal inscriptions allows people to embed all types of…