Month: March 2023

Bitcoin rallies above $27,000 amid US banking crisis, Silicon Valley Bank drama unfolds

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This week, Bitcoin’s (BTC) upward surge was the most significant event. The coin rose above $27,000 amid a banking crisis in the United States. The situation reiterated the need for users to hedge against economic instabilities using digital assets. In the mid of this crisis, the Silicon Valley Bank (SVB) saga remained in focus as fresh details emerged. Meanwhile, the United States regulatory climate came under further criticism as industry leaders highlighted the potential dangers of unfavorable legislation. Bitcoin breaks above $27,000 Two weeks ago, bitcoin was under immense liquidation…

These 5 cryptocurrencies may continue to surprise to the upside

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Bitcoin (BTC) is on track to close the week with gains of more than 23%. The banking crisis in the United States and Europe seems to have boosted buying in Bitcoin, indicating that the leading cryptocurrency is behaving as a safe haven asset in the near term. All eyes are on the Federal Reserve’s meeting on March 21 and 22. The failure of the banks in the U.S. has increased hopes that the Fed will not hike rates in the meeting. The CME FedWatch Tool shows a 38% probability of…

Credit Suisse rescue plan may include nationalization, bondholder losses

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A rescue plan for Swiss banking giant Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse Group AG, multiple reports revealed on March 19.  Swiss authorities are considering applying losses to Credit Suisse bondholders as part of the bank’s ongoing recovery efforts, Reuters learned from two sources. European regulators are concerned that the move might undermine investor confidence in Europe’s financial sector. Another report from Bloomberg claims that the Swiss government is analyzing a full or partial nationalization of…

Bitcoin’s Ordinal Inscriptions Surpass 500,000 Mark as Miners Earn $2.66 Million in Added Fees – Blockchain Bitcoin News

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According to statistics, there are now more than 500,000 Ordinal inscriptions on the Bitcoin blockchain as the trend continues to gain significant traction. Onchain data also shows that since inscriptions started gaining popularity last month, Bitcoin miners have obtained 98 bitcoins worth $2.66 million in added fees. The Rise of Ordinal Inscriptions on Bitcoin Blockchain Ordinal inscriptions have surpassed the 500,000 mark, and at the time of writing, there are approximately 522,243 inscriptions on the Bitcoin blockchain. Essentially, the technology behind Ordinal inscriptions allows people to embed all types of…

Crypto scammers stole over $10b from Americans in 2022

Americans lost $10.3b to online scams in 2022, with crypto investment losses accounting for about 25%. Crypto fraud rose 183% in 2022 The FBI report showed that online scams relating to crypto investments shot up to $2.57b in 2022 from $907m in 2021, a 183% increase. The data gathered by the internet crime complaint center (IC3), an agency responsible for law enforcement and national security, revealed that $10.3b was lost to online scammers in 2022, up from $6.9b in 2021.  The FBI also noted a spike in cryptocurrency investments as scammers took…

Top 7 ways to earn free crypto

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Due to the popularity of cryptocurrency, numerous individuals are searching for means to acquire free crypto. Here are seven methods one can use to earn cryptocurrency without having to invest your own money, including crypto faucets, airdrops, staking, bug bounties and more.  There are several common risks to be aware of when earning free crypto, including security risks, scams and fraud, limited earning potential, time-consuming activities, and potential legal or tax implications. It’s important to do your research and approach these methods with caution. Faucets Crypto faucets are websites or…

Nigerian Fintech Flutterwave Obtains Two Licenses From Rwandan Central Bank – Fintech Bitcoin News

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Flutterwave, the Nigerian fintech giant, recently said it had obtained two licenses from the National Bank of Rwanda, which allow it to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave’s representative in the country, the two licenses make it possible for her company “to provide safe, secure and seamless payment services for individuals and businesses in Rwanda.” Helping Individuals and Businesses in Rwanda The Nigerian fintech giant Flutterwave announced on March 15 that it has secured two additional licenses in Rwanda,…

Large Ethereum Transfer of $33 Million to Binance Causes Volatility in Cryptocurrency Markets

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In a major development that has left the cryptocurrency markets reeling, a large entity transferred Ethereum (ETH) worth $33 million to Binance in a solitary transaction, sources said. This enormous movement of ETH has left the altcoin vulnerable to significant volatility, and its price has fallen by 2.18% from the $1,807 level reported earlier. The identity of the wallet owner from which the transfer was initiated is unknown, but they only had to pay a $1 transaction fee on the Ethereum blockchain. Such a substantial transfer of tokens to an…