Month: March 2023

Breaking: Shanghai upgrade executed on testnet but not without issues

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Ethereum validators are now one step away from being able to unstake their Ether from the Beacon Chain The Shapella hard fork has been executed on the Goerli testnet — the last test run before Ethereum validators will be able to withdraw their Ether (ETH) from the Beacon Chain. There were however issues with the hard fork. Ethereum core developer Tim Beiko noted that while deposits were being processed it didn’t run as smoothly as it could have because several testnet validators didn’t upgrade their client software before the Goerli…

Signature Bank Shutdown Caused by ‘Crisis of Confidence’ in Leadership, NYDFS Says

“The decisions made over the weekend were not crypto related,” the spokesperson said. “Signature was a traditional commercial bank with a wide range of activities and customers, including small businesses like food vendors at Hunt’s Point, residential mortgage banking, commercial real estate, to name a few. DFS has been facilitating well-regulated crypto activities for several years, and is a national model for regulating the space.” Source

National Australia Bank makes first-ever cross-border stablecoin transaction

National Australia Bank (NAB) says it has executed the first-ever cross-border stablecoin transfer by a major financial institution on a layer 1 public blockchain. The intrabank transfer used the bank’s fully backed AUDN stablecoin, which is tied to the Australian dollar.  The transaction was conducted on the Ethereum blockchain and used smart contracts for seven currencies, according to a statement released on March 14 by the bank. Those currencies were Australian, New Zealand, Singapore and United States dollars, as well as euros, Japanese yen and British pounds, according to a statement…

National Australia Bank made first-ever cross-border stablecoin transaction

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National Australia Bank (NAB) announced March 14 that it had executed the first-ever cross-border stablecoin transfer on a layer 1 public blockchain. The intrabank transfer used the bank’s fully backed AUDN stablecoin tied to the Australian dollar (AUD).  The transaction was conducted on the Ethereum blockchain and used smart contracts for seven currencies, according to a statement released by the bank. Those currencies were Australian, New Zealand, Singapore and United States dollars, as well as euros, Japanese yen and British pounds, according to a statement released by Fireblocks. The stablecoins…

US banking system outlook downgraded to ‘negative’ following recent bank failures

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Credit rating agency Moody’s has recently downgraded its outlook on the entire United States banking system from “stable” to “negative.” The move comes in light of the recent failures of Silicon Valley Bank, Silvergate Bank and Signature Bank, which has prompted regulators to intervene with a rescue plan for impacted depositors and institutions.  Despite the downgrade, bank stocks rallied strongly, with the SPDR Bank exchange-traded fund rising nearly 6.5% in morning trade, NBC News reported. Moody’s reportedly noted that an extended period of low rates combined with pandemic-related fiscal and monetary…

MetaMask addresses privacy concerns with new features for enhanced control

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Web3 wallet app MetaMask has introduced a number of new features aimed at enhancing privacy and giving users more control, according to a March 14 blog post by the developer. The new features come after MetaMask had previously been criticized for allegedly intruding on users’ privacy. MetaMask Mobile v6 is now available to everyone! Our biggest release yet fixes issues around slow load times and provides a new and improved UX that gives users more control over their funds and digital identities. Upgrade to the latest version todayhttps://t.co/tGtA4GUXR1 — MetaMask…

Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks – Bitcoin News

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After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from “stable” to “negative.” As one of the “Big Three” credit rating firms, Moody’s cited a “rapid deterioration in the operating environment” following the collapse of these banks. Moody’s Downgrades U.S. Banks, Financial Institutions Face Rising Deposit Costs and Reduced Earnings Moody’s Investors Service, the American credit rating agency, has downgraded the U.S.…