Month: March 2023

Debtors saved over $100M using de-pegged stablecoins to repay loans

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The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million off their loans. Following the collapse of Silicon Valley Bank (SVB) on March 10, the USD Coin (USDC) price dropped to lows of $0.87 on March 11 amid concerns about its reserves being locked at SVB. MakerDAO’s stablecoin DAI also depegged briefly, going as low as $0.88 on March 11, according to CoinGecko. The USDC price briefly dropped to…

HSBC Acquires Silicon Valley Bank UK — Sale Facilitated by Government, Bank of England – Finance Bitcoin News

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The British government and the central bank, the Bank of England, have facilitated a private sale of Silicon Valley Bank UK to HSBC, according to Chancellor of the Exchequer Jeremy Hunt. He stressed that “Deposits will be protected, with no taxpayer support.” British Government Announces Acquisition of Silicon Valley Bank UK by HSBC HSBC has acquired Silicon Valley Bank UK (SVB UK), the British subsidiary of Silicon Valley Bank (SVB) that was shut down by U.S. regulators on Friday. British Chancellor of the Exchequer Jeremy Hunt tweeted Monday: This morning,…

More than 280 blockchains at risk of ‘zero-day’ exploits, warns security firm

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More than 280 blockchain networks are at risk of “zero-day” exploits that could put at least $25 billion worth of crypto at risk, according to cybersecurity firm Halborn. In a March 13 blog post, Halborn warned of the vulnerability it dubbed “Rab13s” — adding it has already worked with some blockchains, such as Dogecoin, Litecoin and Zcash, to institute a fix for it. Halborn discovered massive #ZeroDay impacting Dogecoin and 280+ networks including Litecoin and Zcash, putting over $25 Billion of digital assets at risk! … — Halborn (@HalbornSecurity) March…

SHOCKING Bitcoin And Crypto Adoption From East

▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io In this Weekly Recap I talk about revolutionary changes happening in the Crypto market today. Aurox: Invest In the Future of … ▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io Youtube version

CFTC adds execs from Circle, Ava Labs and Fireblocks to tech advisory group

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The Commodity Futures Trading Commission (CFTC) has signaled receptiveness to the crypto and blockchain sector after including several executives from the space as part of its new Technology Advisory Committee (TAC). CFTC commissioner and TAC sponsor Christy Goldsmith Romero announced the updated membership via a public statement on March 13, with the inaugural meeting of the new committee set to take place on March 22. The TAC itself was formed in 1999 and aims to assist the CFTC in “identifying and understanding the impacts and implications of technological innovation in…

Coinbase Files Amicus Brief in Insider Trading Case: ‘We Need Rulemaking’

“Such behavior is improper for a government agency, and is irreconcilable with due process concerns,” it argued in its brief. “The SEC’s motive, then, is merely to backdoor a precedent that can be used in other cases, as, indeed, it is already doing in other cases where the DOJ has brought an action, and the SEC has piled on with similar allegations of securities laws violations against absent third parties.” Source

Binance to lose its GBP on-and-off ramp provider in 9 weeks

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Binance is scrambling to find a new service partner to process British Pound (GBP) transfers on its trading platform after its current partner, Skrill Limited announced it will soon cease providing services to the crypto exchange.  Binance explained in a Mar. 13 email to “Binancians” that Skrill would stop processing GBP deposits and withdrawals via bank transfer with its “Faster Payments Service” and card in May. 22. “We regret to inform you that our GBP fiat partner, Skrill Limited, has informed us that it will stop offering GBP fiat services,…

SD Governor Urges 20 States to Block Legislation That Bans Crypto’s Use as Money — Says ‘Its a Threat to Our Freedom’ – Featured Bitcoin News

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South Dakota Governor Kristi Noem has vetoed a bill that bans the use of cryptocurrencies, including bitcoin, as money. The bill, masquerading as a Universal Commercial Code (UCC) guidelines update, also paves the way for central bank digital currencies (CBDCs). Emphasizing that this bill is clearly “a threat to our freedom,” the governor urged 20 other states that are about to consider a similar bill to “block this legislation from passing.” South Dakota’s Governor Vetoes Bill That ‘Bans’ Bitcoin and Other Cryptocurrencies for Use as Money The government of the…