Month: March 2023

Salesforce Web3 to help brands build trusted and scalable NFT programs

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Salesforce, a customer relationship management software firm announced the limited release of Salesforce Web3 on March 15. The company said it will be a platform that helps companies create, manage, and deploy non-fungible tokens (NFTs) in a trusted, scalable, and sustainable way. The service will allow brands connect with their customers in a whole new way by integrating their Customer 360 with Web3 data, in order to help brands gain a comprehensive understanding of how customers interact with their brand across traditional and emerging digital environments. According to Salesforce, its Web3 platform…

UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents – Taxes Bitcoin News

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Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s U.K. subsidiary, finance minister Jeremy Hunt delivered the spring 2023 budget on Wednesday. Hunt, who was previously dealing with the bank’s failure, told BBC reporters that the shutdown of the U.K. financial institution posed no…

Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees

Sam Bankman-Fried is seeking to use FTX’s insurance policies to cover his legal expenses, according to a court filing on March 15.  The former FTX CEO’s legal counsel requested in a motion to permit insurers to advance or reimburse his defense costs and fees under directors and officers (D&O) insurance policies held with Relm Insurance and Beazley Insurance. As per the filing, the policies “provides priority of payment to individual insureds with un-indemnified loss like Mr. Bankman-Fried.” Meaning the former CEO would be on top of the FTX payout list. “Based…

Starknet DAO Heads Toward First Governance Vote

The independent, nonprofit Starknet Foundation will delegate 33% of its overall voting power in the first vote to the first-phase Builders Council (getting 23% of the voting power) and a group of delegates selected from a delegate pool, who get 10%. The foundation, which aims to help the network achieve its decentralization goal, launched in November and was allocated 5.01 billion Starknet Tokens, or about 50.1% of the initial token supply of 10 billion tokens. Source

U.S. Government Using Crisis to Choke Off Crypto Access to Banks

Last week, Silvergate Bank, a California firm that catered to crypto companies, said it would “voluntarily liquidate” and shut down. Days later, tech startup-focused firm Silicon Valley Bank (SVB), which had some crypto clients, was closed by the California Department of Financial Protection and Innovation, which said the bank had “inadequate liquidity and insolvency.” Source accessBanksChokeCrisisCryptoGovernmentU.S CryptoX Portal

Senator Warren says Fed chair ‘has to recuse himself’ from reviewing regulatory failures

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Massachusetts Senator Elizabeth Warren, one of the more prominent anti-crypto voices in the United States Congress, has called on Jerome Powell to recuse himself amid an internal probe at the Federal Reserve. Speaking to reporters in Washington D.C. on March 15, Warren said Powell had led “the de-regulatory movement” at the Fed potentially touching upon some of the conditions that had led to the collapse of Silicon Valley Bank. The Fed chair called for a “thorough, transparent, and swift review” of its activities on March 13 following the bank’s shutdown…

Cathie Wood’s Ark Raises $16.3M for New Private Crypto Fund

The filings were released days after Ark added 301,437 shares more shares of crypto exchange Coinbase (COIN) to the ARK Innovation ETF (ARKK) and 52,525 shares to its Next Generation Internet ETF (ARKW), a purchase valued at $20.6 million based on Coinbase’s closing price last Thursday. Ark has been steadily buying shares of Coinbase since the beginning of the year. Source

Meta scraps NFTs on Instagram and Facebook: Nifty Newsletter, March 8–14

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Welcome to the latest edition of Cointelegraph’s Nifty Newsletter. Keep reading to stay up-to-date with the latest stories on nonfungible tokens. Every Wednesday, the Nifty Newsletter informs and inspires you to dig deeper into the latest NFT trends and insights. In this week’s newsletter, read about why Meta decided to “wind down” its nonfungible token (NFT) tools on Instagram and Facebook, and check out the metaverse greenhouse full of dynamic, “breedable” NFT flowers. Find out more about Binance NFT’s addition of Polygon network support to its marketplace and, last but…

Swiss National Bank says it will support credit Suisse if necessary

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The Swiss National Bank (SNB) and the Swiss Financial Market Supervisory Authority released a joint statement on March 15 on the stability of the Swiss banking system and Credit Suisse. The problems of “certain banks in the USA” do not pose a risk for the Swiss financial system, they wrote. The statement was reportedly produced at the request of Credit Suisse. The regulators said Credit Suisse meets all capital and liquidity requirements, but “if necessary, the SNB will provide CS [Credit Suisse] with liquidity.” However, Credit Suisse still “meets the capital…