Month: March 2023

Bitcoin Surges by More Than 37% Against US Dollar This Week, Taps $28K on Sunday – Market Updates Bitcoin News

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Bitcoin reached a high of $28,422 per unit on Sunday at around 3 p.m. Eastern Time as the leading cryptocurrency has continued to rise during the last week. Since last Sunday, bitcoin has increased in value by 37.9% against the U.S. dollar, and the cryptocurrency’s overall market capitalization has swelled to $546 billion. Global Cryptocurrency Market Valuation Increases by 1.11% to $1.18 Trillion; Bitcoin Dominance Remains Above 45% At just before 3 p.m. ET on March 19, 2023, bitcoin (BTC) surpassed the $28,000 zone, rising to $28,422 per unit on…

UBS Group doubles offer and acquires Credit Suisse for $2B

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UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times reported. UBS previously put a $1 billion offer on the table on March 18, but the deal was rejected by the Credit Suisse board, FT sources said. The $1 billion offer was a considerable discount under the bank’s market value on March 17 of nearly $8 billion, according to data from Companies Market Cap. To…

Crypto projects raised over $4m despite US banking crisis

Despite growing concerns in the United States banking industry, the crypto industry stands firm, raising over $4m through token sales last week. On Mar. 19, CryptoRank data revealed that despite a contraction, the amount raised had increased significantly; showcasing the resilience and adaptability of the crypto industry. Collapse of major US banks affects the crypto industry The data showed that the crypto industry raised $4.11m through token sales, despite decreased token sales the previous month. The total raised in the last two months totaled an impressive $6.89b, up from last month’s $933.55m,…

DefiLlama forked as internal dispute unfolds

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A dispute has taken place within the decentralized finance (DeFi) analytics dashboard DefiLlama, leading the platform to be forked by one of its employees over the weekend.  The dispute centers on the company’s plans to launch a token. On March 19, pseudonymous developer at DefiLlama 0xngmi announced the firm’s team was forking the platform, which was “undergoing a hostile takeover”, accusing DefiLlama’s founders of launching a token without its employees’ support. The DefiLlama team is forking Defillama@Defillama is undergoing a hostile takeover There is an ongoing attempt to launch a…

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket – Bitcoin News

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Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends score of 100. The related topics pertain to the financial troubles of Silicon Valley Bank, Signature Bank, and First Republic Bank. Google Trends Shows Global Interest in U.S. Banking Crisis Spiked Last Week Google Trends…

Bitcoin ATM manufacturer, General Bytes, hacked for over $1.5m 

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General Bytes, a bitcoin automated teller machine (ATM) manufacturer, has lost over $1.5m of bitcoin (BTC) following an exploit on Mar. 17 and 18. General Bytes hacked In a security update on Mar. 18, General Bytes said the hacker, or a group of hackers, found an exploit on their master service interface before using it to send funds to their hot wallets. Following this hack, General Bytes was temporarily forced to shut down as it assessed the damage caused. On March 17-18th, 2023, GENERAL BYTES experienced a security incident. We released a…

Polygon supernets vs. Avalanche subnets: Key differences

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Supernets have an advanced technical architecture powered by Polygon Edge, trustless operation via Merkle trees, Ethereum Virtual Machine (EVM) compatibility and custom token support. Supernet architecture is closely tied to that of Polygon Edge. The six modules in Polygon Edge’s architecture that are relevant to supernets include the following: TX Pool: Acting as a repository for pending transactions, this module is the key to Polygon Edge’s event-driven architecture. Transactions can be added easily from multiple sources, and it seamlessly links up with other modules of the platform. Blockchain: This refers…

Crypto-friendly bank offers to rescue Credit Suisse

UBS Group AG, a crypto friendly bank, is reportedly offering to purchase Credit Suisse, a global investment bank, for up to $1b, per details on Mar. 19 . UBS to the rescue The UBS offer comes after BlackRock rejected claims to a deal to salvage Credit Suisse on March 19. UBS is offering a price of SFr0.25 a share to be paid in UBS stock which is way below the SFr1.86 closing price on Friday, Mar. 17.  😬📉The offer was communicated on Sunday morning with a price of SFr0.25 a share to…