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Month: March 2023
‘I Would Sell My Bitcoin Right Into This Rally’ – Markets and Prices Bitcoin News
The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve. “Bitcoin is a strange animal,” he said, asserting that the price of the cryptocurrency is “being manipulated up.” Jim Cramer’s Recommendations The host of CNBC’s Mad Money show, Jim Cramer, says he would sell bitcoin into this rally as the price of BTC jumped following the collapse of several major banks. Cramer is a former hedge fund manager who…
Bitcoin BTC Price Holds Near $25K as Investors Remain Upbeat About Inflation Data, Fed Rate Hikes
Ether was changing hands just above $1,700, about where it stood on Monday, same time. The second largest cryptocurrency has roughly matched BTC’s upswing this week. Other major cryptos spent most of Tuesday healthfully in the green before flattening. APT, the token of layer 1 blockchain Aptos was recently up more than 14%. CRO, the native crypto of crypto exchange Crypto.com, rose about 6%. The CoinDesk Market Index, a measure of the crypto market’s overall performance, climbed 2.4%. Source
Signature Bank investigated for money laundering prior to demise: Report
The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people familiar with the matter, investigators with the Justice Department were examining whether Signature took adequate measures to detect potential money laundering by its clients. It was noted the regulator was particularly concerned as to whether the bank was taking preemptive measures to monitor transactions for “signs of criminality” and properly vetting account holders. A separate probe by the Securities and Exchange Commission (SEC)…
NounsDAO Approves Proposal for Feature-Length NFT Movie
The budget for the first installment has been set at $125,000. According to the proposal, the pilot will be revealed in 90 days, after which the decentralized autonomous organization (DAO) will decide whether to continue funding the project. Nouns members will be allowed to submit story arcs and ideas for future installments. Source
DOJ and SEC to probe SVB collapse and insider stock sales: Report
The United States Justice Department and the Securities Exchange Commission (SEC) have reportedly launched inquiries into the sudden collapse of Silicon Valley Bank (SVB) — which was shuttered by regulators last week amid a historic bank run. According to “people familiar with the matter,” — cited in a March 14 report from The Wall Street Journal — the probes will look into events that led to the bank collapse, along with the stock sales SVB financial officers undertook in the weeks leading up to the closure. Securities filing show the…
Crypto Must Do Better to Be Banked, Say Industry Executives
The downfall of Silvergate, Signature and Silicon Valley banks have wounded digital assets. But crypto might one day work with big banks if the industry can mature, WAX CEO William Quigley and Maicon CEO Alex Liu suggested. Source
U.S. DOJ Was Investigating Signature Bank's Work With Crypto Clients: Bloomberg
Prosecutors were looking at the crypto-friendly bank before regulators seized it, people familiar told Bloomberg. Source
Circle ‘able to access’ $3.3B of USDC reserves at Silicon Valley Bank, CEO says
Circle CEO and co-founder Jeremy Allaire says that since March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank. Speaking with Bloomberg Markets on March 14, Allaire said that he believed that “if not everything, very close to everything was able to clear” from the failed lender. USD Coin (USDC) — the stablecoin issued by Circle — briefly de-pegged following news that $3.3 billion of its cash reserves were stuck on SVB. The stablecoin’s dollar peg has…
Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank
Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB). Speaking with Bloomberg Markets on March 14, Allaire said that he believed that “if not everything, very close to everything was able to clear” from the failed lender. USD Coin (USDC) — the stablecoin issued by Circle — briefly de-pegged following news that $3.3 billion of its cash reserves were stuck on SVB. The stablecoin’s dollar…