Day: March 20, 2023

Americans Lost $2.57 Billion in Cryptocurrency Scams in 2022: FBI 

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According to the Federal Bureau of Investigation (FBI), crypto-fraudulent activities skyrocketed last year. Americans lost over $10 billion to online fraud in 2022, with $2.57 billion drained through cryptocurrency investment scams alone, the premier investigation agency said. Crypto investment scams saw a marked increase in the number of victims and dollar losses in 2022, with the most targeted group being people aged 30 to 49 who are active in the cryptocurrency market. Through out last year, the cryptocurrency market was experiencing a bearish trend. The period was also marked by the…

Microsoft Is Testing an Ethereum Wallet in Its Edge Web Browser – News Bitcoin News

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Microsoft, the software conglomerate, has introduced an Ethereum-based cryptocurrency wallet in the testing version of its Edge web browser. The new feature, which software sleuth Albacore discovered, is named “Crypto Wallet” and would allow users to store and transact Ethereum and Ethereum-based tokens in a non-custodial way, acting like a Metamask clone. Microsoft Introduces Ethereum Wallet in Its Edge Browser Cryptocurrency and Web3 projects are making inroads into mainstream software products. According to reports coming from Albacore, a software researcher, Microsoft is currently developing a native wallet that…

Bitcoin rides banking sector chaos over the $28k mark 

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The crypto market had seen a significant milestone amid the banking crisis as bitcoin (BTC) surged to new highs of $28,000, a price last seen in June 2022. The digital currency has also topped Goldman Sachs’ list of top-performing investment assets. Bitcoin tops $28k Investors and crypto enthusiasts have closely monitored bitcoin price charts as its value rose dramatically in recent weeks while anticipating it would break the $30,000 threshold.  Many crypto lovers have cited BTC prices’ reaction to the banking sector’s ongoing crisis after several banks’ collapse, including Silicon Valley Bank.…

FDIC sells Signature Bank deposits to Flagstar, crypto not included

Only a week after its collapse, Signature Bank’s deposits and loans are set to be sold to Flagstar Bank, a subsidiary of New York Community Bancorp — crypto-related deposits however, will not be part of the deal. The United States Federal Deposit Insurance Corporation (FDIC) announced the agreement on March 19, which will see $38.4 billion worth of non-cryptocurrency-related deposits and $12.9 billion in loans taken over by the Michigan-based bank under a “purchase and assumption agreement.” From March 20, Signature’s Bank 40 branches will begin operating as Flagstar Bank,…

Signature Bank deposits, branches sold to Flagstar, crypto not included

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Only a week after its collapse, Signature Bank’s deposits and loans are set to be sold to Flagstar Bank, a subsidiary of New York Community Bancorp — crypto-related deposits however, will not be part of the deal. The United States Federal Deposit Insurance Corporation (FDIC) announced the agreement on March 19, which will see $38.4 billion worth of non-cryptocurrency-related deposits and $12.9 billion in loans taken over by the Michigan-based bank under a “purchase and assumption agreement.” From March 20, Signature’s Bank 40 branches will begin operating as Flagstar Bank,…

Bitcoin ATM maker shuts cloud service after user hot wallets compromised

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Bitcoin ATM manufacturer General Bytes has shuttered its cloud services after discovering a “security vulnerability” that allowed an attacker to access users’ hot wallets and gain sensitive information, such as passwords and private keys. The company is a Bitcoin (BTC) ATM manufacturer based in Prague, and according to its website, has sold over 15,000 ATMs to over 149 countries all over the world. In a March 18 patch release bulletin, the ATM manufacturer issued a warning explaining that a hacker has been able to remotely upload and run a Java application…

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Midsize US Banks Ask Regulators to Extend FDIC Insurance to All Deposits for 2 Years Before Another Bank Fails – Regulation Bitcoin News

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The Mid-Size Bank Coalition of America has asked federal regulators to extend FDIC insurance to cover all deposits for the next two years. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures,” the group claimed. “It is imperative we restore confidence among depositors before another bank fails, avoiding panic and a further crisis.” Preventing ‘Panic and Further Crisis’ The Mid-Size Bank Coalition of America (MBCA) has reportedly asked federal regulators to extend Federal Deposit Insurance…

Fed, ECB and Others Take Coordinated Steps to Boost Dollar Liquidity; Bitcoin Tops $28K

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The Fed said it would increase the frequency of the dollar swap lines with the European Central Bank, the Bank of Japan, the Bank of England, the Bank of Canada and the Swiss National Bank from weekly to daily, starting Monday. The dollar swap lines allow foreign central banks to borrow U.S. dollars while protecting the Fed from downside risks. In a swap, a Foreign central bank swaps its own currency for an equivalent amount of U.S. dollars from the Fed at the market exchange rate. After a pre-determined time,…