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Month: March 2023
Biden pledges ‘no cost to the taxpayer’ to shield SVB, Signature depositors
The overnight collapse of two major traditional banks — Silicon Valley Bank (SVB) and Signature Bank — triggered a series of events that impacted millions of businesses, venture capitalists and bottom-line investors alike. However, United States President Joe Biden assured taxpayers that they would not feel the burn as the federal government takes action to protect depositors. On March 11, major stablecoins, including USD Coin (USDC), USDD (USDD) and Dai (DAI), depegged from the U.S. dollar after Circle announced that $3.3 billion of its $40 billion reserves were stuck in SVB.…
Study Shows QR and Digital Payments Continue Gaining Ground in Argentina – Fintech Bitcoin News
A recent study made by Fiserv, a global payments company, shows that QR and digital wallets have grown significantly as payment options in Argentina. While credit card preference has stagnated, the use of cash for payments has decreased, with only 14% of the polled choosing to use it over other options in the country. Argentina Goes Digital in Payments Arena Argentines are slowly turning to digital payments, including QR code and digital wallet transfers, as part of their everyday arsenal to settle payments, according to a recent study made by…
Dogecoin Network's Patched Bug is Still Present in 280 Blockchains, Blockchain Security Firm Says
The bug pertains to the way peer-to-peer communications are conducted on blockchain networks, such as Litecoin and Zcash. Source
Bitcoin price nears $25K as analysts place bets on CPI impact
Bitcoin (BTC) eyed key resistance near $25,000 on March 14 as markets awaited key economic data from the United States. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Hopes CPI will bring Bitcoin “consolidation” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making monthly highs of $24,917 on Bitstamp overnight. The pair remained buoyant after the impact of multiple U.S. bank closures sent crypto markets skyrocketing. Now, all eyes were temporarily on the Consumer Price Index (CPI) print for February when it came to short-term BTC price action. A classic…
Santander, HSBC, Deutsche and Others Still Willing to Serve Crypto Clients After Banking Failures, DCG Says
Major banks are still willing to work with crypto firms though they may implement service restrictions, according to messages viewed by CoinDesk. Source
India’s Crypto Industry Finally Sees Lawmakers Engaging
“Web 3 can be one of the biggest factors in bringing to fruition India’s dream of becoming a $5 trillion economy. Negative focus on cryptocurrency, a bit obsessive in the earlier years, has affected the perception about Web3 and its usage. The blockchain narrative needs a paradigm shift from the crypto to the transformative changes that can be brought about with the application of Web3,” he said. Source
Bitcoin’s Move FINALLY ARRIVES as BLACK SWAN Worries Strike Wall Street with Silicon Valley Bank
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Bitcoin market cap flips tech giant Meta, widens gap on Visa
Despite a turbulent week for crypto following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin (BTC) market cap has managed to flip that of tech giant Meta. At the time of writing, data from Companies Market Cap shows Bitcoin’s market cap has reached $471.86 billion, surpassing that of Meta’s market cap of $469 billion. Companies Market Cap provides real-time monitoring and ranking of market caps for cryptocurrencies, public companies, precious metals, and ETFs. Bitcoin’s market cap standing compared to other assets. Source: Companies Market Cap Only 24 hours…
Bitcoin Crosses $24.7K, Sees Highest Liquidations in Two Months
As such, data suggests the price action was spot driven. As of Tuesday, open interest on futures remained below Mar. 9 levels, when bitcoin traded above $23,500, even as bitcoin retraced all losses – implying the price action was led by investors purchasing bitcoin instead of being futures driven. Original