Day: March 20, 2023

First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower – Bitcoin News

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After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares fell more than 15% on Monday morning when Wall Street opened and by 1:15 p.m. (ET), the stock was down more than 25%. First Republic Bank Shares Slide 25% Lower Despite $30B Cash Infusion From…

Blockchain gaining adoption in more than just DeFi: Report

Anyone familiar with the blockchain industry knows that decentralized finance (DeFi) is one of the sector’s most prominent use cases with the most substantial adoption. Recent issues in the banking sector, like those surrounding Silicon Valley Bank and Credit Suisse, have caused many to take a second look at Bitcoin (BTC) and crypto as an alternative to the traditional banking system. And while the further expansion of DeFi bodes well for the rest of the crypto industry, is blockchain technology expanding and being utilized in other ways as well? That’s…

Revolutionary DeFi Protocol IPOR to Be Listed on Bitget on Mar 22nd, 2023 – Press release Bitcoin News

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press release PRESS RELEASE. Victoria, Seychelles, 20th March, 2023 – Bitget, the largest crypto copy trading platform, has announced the upcoming listing of IPOR in its Innovation Zone of the spot market. The deposit services for digital assets will be available from 7 AM on March 22nd, 2023 (UTC), with trading set to commence at 12 PM (UTC) on the same day. IPOR Protocol is a decentralized interest rate derivative exchange that utilizes the Inter Protocol Over-block Rate (IPOR) index. It offers non-custodian on-chain interest rate swaps through the IPOR…

GameFi project Gala files $28M lawsuit against pNetwork

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On Mar. 20, GameFi project Gala Games announced it had recently filed a lawsuit against pNetwork, the cross-chain interoperability bridge used by Gala on the BNB Smart Chain. Last November, Gala Games was exploited after an unauthorized wallet address minted over $2 billion in GALA and dumped the tokens on PancakeSwap, draining $4.5 million from the liquidity pool and causing a substantial plunge in GALA’s token price.  The lawsuit alleges that the incident was the result of “negligence and tortious interference” from pNetwork. On Nov. 7, 2022, blockchain analytics platform…

Florida gov and US presidential hopeful calls for CBDC ban

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Ron DeSantis, the Governor of Florida expected by many to throw his hat into the ring for the 2024 United States presidential race, has called for a ban on a digital dollar. Standing in front of a podium bearing the line “Big Brother’s Digital Dollar” at a March 20 press conference, DeSantis spoke out against the Federal Reserve issuing and controlling a central bank digital currency, or CBDC, in the United States, claiming the initiative would grant “more power” to the government. He cited concerns over inflation in the country, the…

FTX debtors file lawsuit against exchange’s Bahamian arm on ownership of property

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The legal teams representing Alameda Research, FTX US, and FTX Trading have filed a complaint against the Bahamas-based FTX Digital Markets, claiming the company was a “fraudulent enterprise” used as a shell entity to obfuscate the question of the firm’s ownership. In a March 19 filing with the United States Bankruptcy Court for the District of Delaware, FTX debtors said FTX Digital Markets, or FTX DM, as well as the joint provisional liquidators (JPLs) had claimed the Bahamian arm was the “constructive owner” of FTX.com’s fiat and crypto assets as…

Cointelegraph 2023 Top 100 full list now mintable as digital collectibles

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Beginning March 20, folks across the crypto industry will be able to mint nonfungible tokens (NFTs) out of Cointelegraph’s 2023 Top 100. Cointelegraph unveiled its 2023 Top 100 list of the most impactful heroes and villains in the crypto and blockchain space in February. It was published in batches throughout the month, counting down to the top-ranked profile, with each entry including a bio and an animated picture. Check out Cointelegraph’s 2023 Top 100 and collect the profiles Over a seven-day period starting March 20, the profiles of everyone on…

SOL Over 8% Higher to Start the Week – Market Updates Bitcoin News

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Solana rose by as much as 8% to start the week, as the token moved toward a one-month high. The token climbed for a second straight session, as the global banking crisis pushed investors towards cryptocurrencies. Chainlink was also higher, hitting a three-week high. Solana (SOL) Solana (SOL) moved closer to a one-month high to start the week, as prices surged by as much as 10% in today’s session. Following a low of $21.59 on Sunday, SOL/USD raced to an intraday peak of $23.83 earlier in the day. As a…

Senator Cynthia ‘Crypto Queen’ Lummis Plans New Cryptocurrency Bill

So it’s more robust, I would say. [The legislation has] been on a diet and it’s been on exercise, so it’s meatier and a little shorter, but we also have tried to address some issues that we think are important to address. From the original bill where we were proposing some studies, we’re now proposing more statutory language, because even our depth of understanding [has grown], and our feeling [is that] Congress needs to and is ready to weigh in on some of those concepts. Source BillCryptoCryptoCurrencyCynthiaLummisPlansQueenSenator CryptoX Portal