Month: March 2023

a suspicious project leveraging a defunct UK company

This article is a deep dive investigation into Ecoin Finance (ECOIN): a suspicious project based on the smart contract of what many consider to be a fraudulent platform, Safemoon (SAFEMOON), that keeps promoting its token with the name of a now-defunct company that was registered in the United Kingdom. Ecoin Finance is a project that, according to its website, was founded in May 2021 and “is a decentralized & deflationary BEP20 token powered by BNB Chain network.” The company seemingly aims to become “an online payment platform replacing conventional fiat currency…

Former Coinbase CTO makes $2M bet on Bitcoin’s performance

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Former Coinbase chief technology officer Balaji Srinivasan has made a millionaire bet on Bitcoin’s (BTC) price over the next 90 days, predicting the cryptocurrency price will reach $1 million by June 17.  The wager was initiated on March 17, when pseudonymous Twitter user James Medlock offered to bet anyone $1 million that the United States would not experience hyperinflation. A few hours later, the former Coinbase CTO accepted the bet. Sir, I believe we have ourselves a deal https://t.co/9JYaLNo9Eq — James Medlock (@jdcmedlock) March 18, 2023 Under the proposed terms,…

UBS Considers Acquiring Credit Suisse, Requests Government Backstop in Deal – Bitcoin News

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After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to unnamed sources familiar with the matter, UBS, which is the world’s largest private bank, wants the government to safeguard the deal. Credit Suisse’s Troubles Deepen as UBS Considers Takeover Amidst Banking Industry Challenges There are many deals happening behind the…

OKX suffers second network outage in last three months 

On March 17 crypto exchange OKX suffered a temporary server outage which was solved in about an hour.  The OKX team said in a Twitter update that the outage was due to a matching engine problem.  OKX experienced downtime In several tweets, OKX assured investors that the engineering team was working hard to fix the problem while ensuring all funds remained safe. As such, the network promised to resume service provision as soon as the problem was solved.  OKX founder Star Xu also quoted the OKX tweet noting, “Sorry for…

SVB’s parent firm files for chapter 11 protection

A few days after its former business Silicon Valley Bank was taken over by U.S. authorities, SVB Financial Group said on March 17 that it had filed for a court-supervised restructuring under chapter 11 bankruptcy protection to seek purchasers for its assets. The decision to initiate bankruptcy procedures was made because emergency steps taken to restore trust have, as of yet, been unable to ease concerns over the spread of financial contagion. SVB Financial Group’s troubles The firm said earlier this week that it intended to seek strategic options for…

SBF legal fees, BTC market cap flips Meta,USDC climbs back to $1

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Top Stories This Week Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees Sam Bankman-Fried (SBF) is seeking to use FTX’s corporate insurance policies to cover his legal expenses, according to a court filing on March 15. As per the filing, the policies provide “priority of payment” to insured individuals such as Bankman-Fried. The move would put the former CEO on top of the FTX payout list. Another headline shows that Bankman-Fried’s inner circle received $3.2 billion in payments and loans from FTX-linked entities. The amounts exclude over $240…

Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains – Bitcoin News

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At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes at a time when confidence in the global banking system is at an all-time low, and five major banks have received bailouts. An ounce of fine silver also increased in value, rising more than 12% from $20.01 to $22.59 per ounce this week. Gold and Silver Prices Surge Amid…

Ethereum 2.0: Az átállás, azaz a Merge!

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Az Ethereum fejlesztői már 2020 óta ígérik, hogy útjára indítják az Ethereum 2.0-át, amikor viszont elértük az általuk kitűzött … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

Turkish bank wants to take control of Stablex, a crypto trading platform

Ak Investment, one of Akbank’s wholly owned subsidiaries, has officially applied to partner with Stablex, a crypto exchange. Akbank’s interest in crypto Ak Investment owns 100% of the company shares. Their recent partnership with Binance cemented its exploration and interests in crypto as the duo embarks on direct Turkish Lira transfers. According to DUNYA, a subsidiary of Akbank, Turkey’s second largest private bank, has applied to the govenment to become the main shareholder of the crypto trading platform Stablex. The majority of cryptocurrency companies in Turkey currently work with Akbank.… https://t.co/Q2DmP2seFZ —…