“From a technical aspect, the current price action is overheated and we could see a correction toward $25K in the near term. The major market mover will most likely be FOMC, in about 3 days, where the majority of the analysts believe we will see a 25 bps hike at best,” DiPasquale told CryptoX in via email. Source 28K30KBTCFacePricePushesResistance CryptoX Portal
The United States Federal Reserve has announced a coordinated effort with five other central banks aimed at keeping the U.S. dollar flowing amid a series of banking blowups in the U.S. and in Europe. The March 19 announcement from the U.S. Fed comes only a few hours after Swiss-based bank Credit Suisse was bought out by UBS for nearly $2 billion as part of an emergency plan led by Swiss authorities to preserve the country’s financial stability. According to the Federal Reserve Board, a plan to shore up liquidity conditions…
A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread across the entire banking system,” he warned. Lawmaker Warns of Runs on Smaller Banks U.S. Congressman Blaine Luetkemeyer (R-MO), a former banker and a member of the House Financial Services Committee, said last week that the government should temporarily insure…
CryptoX – Cryptocurrency Analysis and News Portal The 40 former branches of Signature Bank will operate under New York Community Bancorp’s Flagstar Bank, N.A., as of Monday. Source The post Signature Bank Deposits to Be Assumed by New York Community Bank Unit: FDIC appeared first on CryptoX. CryptoX Portal
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U.S. Senator Elizabeth Warren has called for a “thorough, independent investigation of the causes” that led to the failure of Silicon Valley Bank (SVB) and Signature Bank. She alleges that Federal Reserve Chairman Jerome Powell “bears direct responsibility” for regulatory and supervisory issues involving the two banks. Senator Elizabeth Warren Calls for Independent Investigation Into Bank Failures U.S. Senator Elizabeth Warren (D-MA) called for an investigation into the recent collapse of major banks in a March 18 letter to the Treasury Department’s deputy inspector general, the Federal Deposit Insurance Corporation…
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Venezuela’s president Nicolás Maduro has announced the reorganization of the National Superintendency of Crypto Assets, known as Sunacrip in Spanish, according to a decree issued on March 17. A new board will lead the reorganization, headed by Anabel Pereira Fernández, a lawyer who served as president of the Fondo de Garantía de Depositos y Protección Bancaria (FOGADE), the Venezuelan version of the United States Federal Deposit Insurance Corp. (FDIC). Among the other directors are Héctor Andrés Obregón Pérez, Luis Alberto Pérez González, and Julio César Mora Sánchez. Without providing any…
According to Sharering, a blockchain-based platform enabling the creation and use of “self-sovereign” verifiable credentials, millions of potential world wide web users are still disconnected from the internet because they lack required or verifiable identities, among other things. Without such verifiable identities or credentials, many disadvantaged groups, including refugees, are thus precluded from accessing information from the web that may enhance their way of life. Sharering on Proving ID Online To help such disadvantaged groups overcome this challenge, tech entrepreneurs and blockchain startups like Sharering have proposed or created a…
At the time of writing, the leading cryptocurrency is trading at $28,063, a 2.4% increase in the past 24 hours. The price reached $28,459 at its highest point during the day, before trading at $26,877 during the day’s low. Overall this week, Bitcoin has gained over 37% against the U.S. dollar. Bitcoin’s market capitalization added $194 billion in 2023, representing a 66% gain year-to-date, outperforming Wall Street banks stocks especially as fears of a global banking crisis are rising. United States bank valuations have slid amid the ongoing fear surrounding…