Day: March 29, 2023

Signature’s crypto clients told to close their accounts by April 5: Report

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Signature Bank’s cryptocurrency clients have been reportedly given until April 5 to take their funds out and find another bank, or have their accounts closed by the federal regulator. According to reports, a United States Federal Deposit Insurance Corporation (FDIC) spokesperson said on March 28 that the agency was “reaching out to depositors from Signature whose deposits were not included in NYCB’s bid, confirming that these deposits belonged to digital asset clients. Depositors who have their accounts closed will receive a check to their registered address, so anyone with funds…

Banking Crisis Tips US Economy Toward Recession – Economics Bitcoin News

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The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says the current banking crisis has pushed the U.S. economy closer to a recession. “We have fundamental issues, regulatory issues facing our banking system,” the Fed official stressed. Neel Kashkari on U.S. Economy, Banking Crisis, Recession Federal Reserve Bank of Minneapolis President Neel Kashkari shared his thoughts on the state of the U.S. economy, the current banking crisis, and whether the U.S. is headed toward a recession in an interview with CBS News Sunday. Responding to a question about…

‘Withdrawals are coming!’ — Ethereum devs confirm epoch for Shapella fork

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Ethereum validators will soon be able to withdraw their Ether (ETH) from the Beacon Chain, with the Shapella hard fork set to be activated on the Ethereum mainnet on April 12. Shapella will take effect at epoch 194,048, which is scheduled for 10:27 pm UTC on April 12, Ethereum core developers confirmed. The withdrawals will be enabled by Ethereum Improvement Proposal EIP-4895 by “pushing” staked Ether from the Beacon Chain to the Ethereum Virtual Machine (EVM), otherwise known as the execution layer. It’s happening Shapella is scheduled on mainnet for…

Elizabeth Warren is pushing the Senate to ban your crypto wallet

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Massachusetts Senator Elizabeth Warren is once again smearing the cryptocurrency industry and attempting to make Americans more dependent on big banks.  Warren vowed in February to reintroduce the Digital Assets Anti-Money Laundering Act, a proposal that went nowhere when she first introduced it with Kansas Senator Roger Marshall in December 2022. While the proposal’s stated purpose is to protect Americans from scams, it is more likely to drive cryptocurrency businesses overseas and weaken consumer choice. It prohibits the use of digital asset mixers and requires self-hosted wallets — like the…

Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status – Economics Bitcoin News

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Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic system.” Crowley Warns of ‘Catastrophic’ Consequences if the U.S. Dollar Loses Global Reserve Currency Status Monica Crowley, former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury, explained on Fox News Saturday…

Bitcoin Layer 2 Stacks’ Token a Top Performer in March

NorthRock identified three main layer 2 networks on Bitcoin: Lightning, RSK and Stacks. Each layer 2 “is complementary and has different goals, but of the three Stacks is furthest along in terms of developing an ecosystem for more traditional crypto applications (NFTs, DeFi, Name Services, etc.),” NorthRock wrote. Source BitcoinLayerMarchPerformerStacksTokenTop CryptoX Portal

Singaporean women ‘outperforming’ men in crypto trades, survey reveals

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Singaporean women are slightly more likely to make money or at least break even on their crypto investments than their male counterparts, according to a survey from cryptocurrency exchange Independent Reserve. Published on March 28, the annual Independent Reserve Cryptocurrency Index (IRCI) survey was conducted in February and polled “1,500 everyday Singapore residents on their attitudes toward cryptocurrency.” As per the survey data, 76% of women reported either making money or breaking even on their crypto investments, compared to just 72% of men. “Since the launch of IRCI in Singapore…