Month: March 2023

BlackRock is not interested in buying Credit Suisse 

BlackRock has refuted claims that they are interested in a deal to salvage Credit Suisse, a Swiss-based global investment bank. BlackRock is not buying Credit Suisse Recent reports highlighted that BlackRock, a global investment company with over $10t in assets under management, was planning to acquire Credit Suisse, which is currently facing a liquidity crisis. However, in a tweet, BlackRock said they had no plan or interest in acquiring the troubled lender.  BlackRock is not participating in any plans to acquire all or any part of Credit Suisse, and has…

Several Crypto Mining Operations Busted in Russia – Mining Bitcoin News

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Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry. ‘Underground’ Crypto Mining Farms Shut Down Across Russia Police and power suppliers have uncovered and dismantled illegal crypto mining installations in Siberia and Southern Russia, local crypto news outlets reported this week, quoting authorities. In one of the cases, the organizers of…

Peter Schiff blames ‘too much gov’t regulation’ for worsening financial crisis

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The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening financial crisis. A deeper analysis of Silicon Valley Bank (SVB) by a group of economists revealed that nearly 190 banks in the United States are at risk of a depositor-driven collapse. It was highlighted that the monetary policies penned…

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News

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A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan Van Overtveldt, has insisted that governments should prohibit cryptocurrencies like bitcoin. His call comes amid a crisis sparked by the failure of several banking institutions, including two crypto-friendly banks in the U.S. “Another lesson to…

Cardano Vs Ethereum: Which Is BETTER?

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io At one point, Ethereum dominated the smart-contract platform space, giving birth to a large following! But look through its huge … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report

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Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, a recent report revealed. According to a March 18 Sky News report citing unnamed sources, the payouts to SVB UK staff and senior executives were signed off “earlier this week” by HSBC UK Bank – the institution which acquired SVB UK for 1 British pound ($1.22 USD) on March 13. It was reportedly “unclear” how much had been awarded to SVB…

Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen – Bitcoin News

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General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able to liquidate 56.28 bitcoins, worth approximately $1.5 million, from about 15 to 20 crypto ATM operators nationwide. Crypto ATM Operators Temporarily Shut Down After General Bytes Security Breach Enables Hacker to Liquidate $1.5M in Bitcoin…

Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’ – Economics Bitcoin News

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Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. economy in an interview with CNBC Wednesday. Comparing the current market condition to one in December 2018, he said: “This reminds me a lot of 2018, December, when the Fed had this idea of one…