Day: March 19, 2023

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News

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A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan Van Overtveldt, has insisted that governments should prohibit cryptocurrencies like bitcoin. His call comes amid a crisis sparked by the failure of several banking institutions, including two crypto-friendly banks in the U.S. “Another lesson to…

Cardano Vs Ethereum: Which Is BETTER?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io At one point, Ethereum dominated the smart-contract platform space, giving birth to a large following! But look through its huge … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report

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Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, a recent report revealed. According to a March 18 Sky News report citing unnamed sources, the payouts to SVB UK staff and senior executives were signed off “earlier this week” by HSBC UK Bank – the institution which acquired SVB UK for 1 British pound ($1.22 USD) on March 13. It was reportedly “unclear” how much had been awarded to SVB…

Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen – Bitcoin News

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General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able to liquidate 56.28 bitcoins, worth approximately $1.5 million, from about 15 to 20 crypto ATM operators nationwide. Crypto ATM Operators Temporarily Shut Down After General Bytes Security Breach Enables Hacker to Liquidate $1.5M in Bitcoin…

Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’ – Economics Bitcoin News

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Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. economy in an interview with CNBC Wednesday. Comparing the current market condition to one in December 2018, he said: “This reminds me a lot of 2018, December, when the Fed had this idea of one…

Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’ – Economics Bitcoin News

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Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S. economy in a series of tweets this week. He explained that when the government “imposed lots of new banking regulations after the 2008 financial crisis, we were assured that what is happening right now would…

Switzerland preparing emergency measures for UBS’ takeover of Credit Suisse: Report

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The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS, Switzerland’s largest bank, is the “only option” to prevent a “collapse in confidence” in Credit Suisse. According to a March 18 Financial Times report citing three people familiar with the situation, Switzerland is preparing to use “emergency measures” to accelerate the takeover by UBS of Credit Suisse, in an effort to finalize the acquisition before “markets open on Monday.” It was noted that the emergency measures set in place…

Balaji Srinivasan Says Hyperinflation Happening Now — Makes Million-Dollar Bets on Bitcoin Price Exceeding $1M in 90 Days – Economics Bitcoin News

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Venture capitalist and angel investor Balaji Srinivasan says hyperinflation is happening now. Expecting the price of bitcoin to soon hit $1 million, he is making million-dollar bets that it will happen in 90 days. Srinivasan also advised investors to buy bitcoin, which he believes to be “a hedge against hyperinflation, monetary debasement, bank freezes, and wealth seizure.” Balaji Srinivasan: Hyperinflation Is Here Venture capitalist Balaji Srinivasan believes that hyperinflation is happening now. Srinivasan is an angel investor, tech founder, and a Wall Street Journal bestselling author. He formerly served as…