First Citizens Scooping Up Big Chunks of Silicon Valley Bank

The Federal Deposit Insurance Corp. announced late Sunday that First Citizens Bank will acquire the deposits, loans and branches of failed Silicon Valley Bank, an institution that catered to tech startups, including crypto firms. Bloomberg had initially reported that a deal was nearing completion and could be announced as early as Monday morning. In a statement, the FDIC said that all depositors of Silicon Valley Bridge Bank, the bridge bank set up by the FDIC after the collapse of Silicon Valley Bank, will automatically become depositors of First-Citizens Bank &…

BTC Consolidates Near $28,000, as First Citizen Agrees to Acquire Silicon Valley Bank – Market Updates Bitcoin News

Bitcoin started the week trading around the $28,000 mark, as markets reacted to the news that Silicon Valley Bank was to be acquired. First Citizen Bank agreed to buy approximately $72 billion in SVB assets, at a discounted rate of $16.5 billion. Ethereum continued to trade under $1,800 on Monday. Bitcoin Bitcoin (BTC) started the week trading marginally higher, with prices hovering near the $28,000 level. Following a bottom at $27,678.15 on Sunday, BTC/USD moved to a high of $28,178.14 earlier in today’s session. The move saw bitcoin edge towards…

New Vulnerability Attacks on Multi-Sig Wallets Uncovered: Verichains Reports

New risks discovered in multi-party computation (MPC) wallets and digital asset custody, Verichains reports. Leading blockchain security solutions provider Verichains announced the discovery of a critical attack possibility in the popular Threshold Signature Scheme (TSS), the function in a blockchain that enables a group of parties to collectively issue a transaction signature without exposing the secret signing key. TSS is a multi-party control (MPC) protocol that is common in multi-party signature wallets and digital custody solutions. In recent times, MPC has become the industry standard to secure users’ digital assets…

Ark Invest Continues on Coinbase Stacking

Ark Invest is also interested in Jack Dorsey’s payment firm Block after short-seller Hindenburg Research published a damning report on the company. No one takes advantage of the dip in crypto-related stocks like Cathie Wood’s American investment management company, Ark Invest. For the second straight day, the company made strategic acquisitions of both the shares of crypto exchange Coinbase Global inc (NASDAQ: COIN) and payment service provider, Block Inc (NYSE: SQ). As gleaned from disclosures made by the company and reported by Coindesk, Ark Invest scooped up a total of…

A net positive for the entire crypto industry

Paris Blockchain Week 2023 brought together some of the biggest names in the blockchain and crypto industry. Starting on March 21, the three-day event turned out to be a net positive for the crypto industry, with prominent industry players coming together to discuss and share their thoughts on the decentralized ecosystem’s past, present and future. The Cointelegraph team was present on the ground to bring readers some behind-the-scenes content, exclusive interviews, insightful video bites from industry experts and more. Cointelegraph editor-in-chief, Kristina Lucrezia Cornèr; head of video, Jackson DuMont; and…

‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

Despite being touted as the possible panacea, decentralized finance (defi) still faces obstacles which greatly diminish the prospects of mainstream adoption, asserts serial entrepreneur and CEO of Radix DLT, Piers Ridyard. Ridyard added that while defi is seen as “a fantastic proof of concept,” widespread adoption of this alternative to traditional finance is only possible when the developer and user experience is improved. Developer Incentives and Mass Adoption of Defi Besides improving developer and user experience, the Radix CEO told Bitcoin.com News that the provision of ongoing and sustainable support…

Bitcoin Has Benefited From U.S. Dollar Liquidity to Support Banks: Morgan Stanley

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German Dwpbank Launches New Platform to Offer Bitcoin Trading to Over 1,200 Affiliated Banks

It is expected that Dwpbank’s move will put pressure on other German banks and financial institutions in the country. Deutsche WertpapierService Bank (Dwpbank), has launched a new platform called wpNex. The securities processing giant announced the launch via a recent press release on the new platform. According to the release, wpNex by Dwpbank will accommodate its over 1,200 affiliated banks and will allow them to offer Bitcoin (BTC) trading to their customers in the second half of this year. Dwpbank Aims to Integrate Bitcoin Trading into Users’ Online Banking Experience…