The bitcoin price (BTC) rose to a nine-month high of $25,484 in the minutes following the report. Original
U.S. Inflation Slowed to 6% in February; Bitcoin Breaks $25K
Month: March 2023
Asset Management Giants Blackstone, Apollo Eyeing SVB Assets: Bloomberg
SVB collapsed last week following a $42 billion bank run after it announced plans to sell $2.24 billion in new shares. Source
EU Parliament Passes Bill Requiring Smart Contracts to Include Kill Switch
“Article 30, as currently drafted, goes a step too far in addressing the issues raised by immutability,” Thibault Schrepel, an associate professor at VU Amsterdam University, tweeted ahead of the vote. “It endangers smart contracts to an extent that no one can predict.” Source
Moody’s Downgrades Signature Bank to Junk while Putting More Banks Under Review
Moody’s also put the ratings of six other banks in the US under review. Ratings agency Moody’s has downgraded the debt ratings of recently collapsed Signature Bank (NASDAQ: SBNY) to junk amid the happenings in the US banking sector. Signature Bank began to lose its shares following the demise of Silicon Valley Bank last week. As investors’ worries peaked, the New York Department of Financial Services (NYDFS) took over Signature Bank to protect depositors’ funds. The State regulators shut down the bank two days after Silicon Valley Bank’s crumble. Moody’s…
Treasury Yields Climb amid Latest Investor Interest Rate Outlook Assessment
The 2-year and 10-year Treasury yields rose Tuesday as investors pondered the next Fed interest rate hikes. Treasury yields recently climbed amid investor interest rate assessment ahead of pivotal inflation data. On Tuesday, investors and analysts weighed the outlook for Federal Reserve interest rate hikes following Silicon Valley Bank’s collapse. By 5 am Eastern Time, the 10-year Treasury yield was up approximately seven basis points to 3.5827%. The 2-year Treasury yield also rose by more than 15 basis points to 4.1857% around the same time. The yield on the 2-year Treasury had…
BTC Nearing $25,000 as Banks Face Exodus of Deposits – Market Updates Bitcoin News
Bitcoin moved closer to $25,000 on Tuesday, as banking withdrawals rose following the collapse of Signature Bank and Silicon Valley Bank. Reports suggest that withdrawals at the likes of JPMorgan and Citibank are nearing a ten-year high. First Republic Bank has been another major firm to fall, with its stock dropping by over 60% on Monday. Ethereum was also higher in today’s session. Bitcoin Bitcoin (BTC) extended recent gains on Tuesday, as prices rose higher for a fourth consecutive session. Banking stocks were significantly lower to start the week, with…
Here are the crypto firms denied exposure to troubled US banks
Amid the ongoing United States banking crisis, a wide number of major cryptocurrency firms have denied exposure to dissolved U.S. banks like Silicon Valley Bank (SVB). As potential implications of the SVB crisis for the crypto market continue to unfold, Cointelegraph highlighted several major crypto firms that have declared to be unaffected by the issues so far. Tether Tether, the operator of the eponymous USD-pegged stablecoin, USDT (USDT), was one of the first companies to deny exposure to SVB and other troubled U.S. banks as of mid-March. On March 12,…
Crypto skeptic Peter Schiff says bitcoin price surge is not sustainable
Peter Schiff has criticized bitcoin’s (BTC) recent bullish momentum, arguing that the orange coin’s over 20% price increase in the past seven days is just a flash in the pan. While the world’s flagship cryptocurrency, bitcoin, has lost a large chunk of its gains since reaching its all-time high (ATH) of nearly $70k in late 2021, the recent collapse of Wall Street lenders like Silicon Valley Bank (SVB) has somehow ushered in renewed investor confidence and optimism in the crypto space, triggering a robust bullish push in the digital assets…
$145M transferred to crypto exchanges
Amid the multiple ongoing investigations, FTX continues to move funds. The addresses, related to the failed crypto exchange, reportedly transferred around $145 million in stablecoins to a range of operating platforms. As Lookonchain spotted on March 14, three wallets, associated with both FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC. The Tether reserves have gone to custodial wallets on such platforms as Coinbase, Binance and Kraken. All funds in USDC were transferred to Coinbase custodial wallet. Both FTX and Alameda are in the…
Spain Prepares to Expand Offer of Gold Bullion Coins for Investors – News Bitcoin News
The government of Spain has approved the resources for a new issuance of gold bullion coins, which will be directed to satisfy a higher estimated demand for these instruments. The Spanish National Coin Factory will purchase 40 million euros in high-quality gold pieces for this batch, a significantly higher amount of gold compared to the two series issued before. Spanish National Coin Factory Prepares Gold Bullion Coin Issuance Spain is preparing the issuance of a new gold bullion coin to satisfy the demand of the market for such instruments. In…