Terraform Labs founder Kwon was arrested in Montenegro on Thursday for document forgery. Source
Do Kwon Charged, Due in Montenegro Court for Extradition Hearing: AFP
Day: March 24, 2023
Fed balance sheet adds $393B in two weeks — Will this send Bitcoin price to $40K?
As of March 22, the Fed’s balance sheet surged by nearly $94.5 billion — a $297 billion increase from the last week when the banking crisis started. New QE hopes boost Bitcoin price Overall, the U.S. central bank’s liabilities increased by $393 billion in the last two weeks to $8.734 trillion. That is closer to the all-time high of $8.95 trillion a year ago when the Fed started its quantitative tightening program and reduced its assets by $600 billion. Federal Reserve balance sheet as on March 24. Source: FRED The Fed released the…
Coinbase CEO Advocates More Crypto Representation in Politics
Armstrong believes the future of crypto can best be moved forward when more pro-crypto lawmakers are at the helm of affairs. Brian Armstrong, the Chief Executive Officer of American publicly listed trading platform, Coinbase Global Inc (NASDAQ: COIN) has advocated for more inclusive representation of pro-crypto individuals in US politics. Speaking in a Twitter Spaces event Armstrong admonished crypto proponents to “contact their congressman, donate to pro-crypto candidates, show up at town halls”. The comments followed the move by the United States Securities and Exchange Commission (SEC) in sending the…
Digital Euro Key for European Payment Autonomy, ECB President Lagarde Says – Finance Bitcoin News
The digital euro has an important role in preserving the payment autonomy of Europe, the head of the eurozone’s monetary authority emphasized. The new currency, which is still under development, is meant to be sovereign and safe, cheap and widely available, Christine Lagarde assured during a discussion devoted to central bank digital currencies. Payment Cards and Apps Now Are Not Necessarily European, Lagarde Points Out A digital euro has a key role to play in safeguarding Europe’s payment autonomy, President of European Central Bank (ECB) Christine Lagarde was quoted as…
Here’s Why Crypto Traders Should Be Attentive to ‘De-Inversion’ of Treasury Yield Curve
“Keep an eye on the yield curve ‘de-inverting’. We’re now getting close. The day that happens after an inversion, the countdown to recession starts in earnest: average of 4 months and median of 2 months,” David Rosenberg, founder and president of Rosenberg Research & Associates, tweeted. Source
Binance launches internal investigation following KYC bypass rumors
A recent article surfaced alleging that Binance employees and volunteers were assisting Chinese users on how to bypass Know Your Customer (KYC) and other security protocols. However, speaking to Cointelegraph a spokesperson from Binance clarified that employees are “explicitly forbidden” from supporting users in circumventing any laws or policies. The spokesperson also said the company is taking action following the recent allegations. “We have launched an investigation into employees who may have violated our internal policies including wrongly soliciting or making recommendations that are not allowed or in line with…
Matter Labs Opens zkSync Era to Users, Claiming First in ‘Zero Knowledge’ Tech on Ethereum
After launching ZkSync Era for developers-only last month, the project took the additional step Friday of opening it to general users. The latest push comes just days ahead of Polygon’s planned rollout on Monday of its own “zero knowledge Ethereum Virtual Machine.” Source
Crypto Exchange Zipmex’s $100 Million Bailout Deal in Jeopardy
Zipmex, a troubled cryptocurrency exchange, is facing the risk of losing a $100 million bailout deal as it did not receive its latest payment due on March 23. The exchange was supposed to receive $1.25 million as part of the acquisition deal with V Ventures, a subsidiary of Thoresen Thai Agencies Pcl. According to a letter by the company, Zipmex has not received any information on when or if the latest payment will be made. The exchange is working with its advisers to decide on the next steps. Although Zipmex…
Arbitrum Tokens Rack Up $2B in Trading Volume, Analysts Point to Growth Ahead
“We’re seeing a feverish trading environment for ARB tokens as the airdrop just launched. Airdrops logically garner a lot of retail attention, but often result in the price tanking as traders offload their tokens rapidly,” said Henry Liu, CEO of BTSE, in a Telegram message to CryptoX. Source AheadanalystsArbitrumgrowthPointrackTokensTradingVolume CryptoX Portal
ETH Drops From 7-Month High, as Market Volatility Heightens – Market Updates Bitcoin News
Ethereum fell from a 7-month high March 24, as traders reacted to further uncertainty within the European banking sector. Shares in Deutsche Bank fell by as much as 13% in today’s session, following a spike in the cost of credit default swaps. Bitcoin briefly moved above $28,000 on the news. Bitcoin Bitcoin (BTC) was back above $28,000 on Friday, as fears of further banking collapses pushed traders towards cryptocurrencies. Following a low of $27,359.25 on Thursday, BTC/USD raced to an intraday peak of $28,729.84 earlier in today’s session. The move…