Month: March 2023

Euler Finance exploiter returns another $37.1M worth of ETH and DAI

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The architect of the March 13 Euler Finance exploit returned an additional $26.5 million worth of Ether (ETH) to the Euler Finance deployer account on March 27, on-chain data shows. Another 13M for ze Euler team 20M dai left in the wallet that sent this over Let’s get it pic.twitter.com/rF8l6e7yYw — DCF GOD (@dcfgod) March 27, 2023 At 6:21 pm UTC, an address associated with the attacker sent 7,738.05 ETH (worth approximately $13.2 million at the time it was confirmed) to the Euler deployer account. In the same block, another…

Bitcoin Sinks Below $27K After CFTC Files Suit Against Binance

ETH, the second-largest cryptocurrency, fell below $1,700 before recently rebounding to $1,703, still off 3.6% from Sunday, same time. BNB, the native token of the Binance-initiated blockchain network BNB Chain, has declined by over 5% to about $310 from roughly $327 a day ago. Litecoin (LTC) was trading down nearly 4.8%. Source

Price analysis 3/27: SPX, DXY, BTC, ETH, BNB, XRP, ADA, MATIC, DOGE, SOL

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The crypto market corrected on news of the CFTC suing Binance and its CEO Changpeng Zhao, but technical charts reveal a silver lining. The news and events related to the banking crisis in the United States and Europe have led to a rotation of funds into investments considered less risky. According to the Financial Times, the U.S. money market funds in March witnessed an inflow of $286 billion.  Along with money market funds, a portion of the money may also have seeped into the crypto industry. The increased demand could…

CFTC calls ETH a commodity in Binance suit, highlighting the complexity of classification

The United States Commodity Futures Trading Commission (CFTC) filed suit against Binance on March 27 for violations of the Commodities Exchange Act and CFTC regulations. Those violations included transactions with Ether (ETH), according to the suit. This claim, at first glance, touched on a notable point of contention between the CFTC and the Securities and Exchange Commission (SEC).  The CFTC claimed in its suit that Binance engaged in transactions with “digital assets that are commodities including Bitcoin (BTC), Ether (ETH), and Litecoin (LTC) for persons in the United States.” That…

A Privacy-Protecting U.S. CBDC Could ‘Take Over the World’

“Where I differ with them is the assumption that we in America, the world’s most ingenuitive nation history’s ever known, could not design a very different central bank digital currency,” Giancarlo said. He added that if the digital dollar is created using open architecture, it could potentially satisfy users’ surveillance concerns. Source

Binance Depositors Flee Following CFTC Charges, On-Chain Data Shows

In the last 24 hours, Binance has seen a net outflow of $400 million on Ethereum, according to blockchain analytics firm Nansen. This compares to a net flow of $2 billion over the past seven days. Savvy traders who Nansen considers “smart money” operators have also removed $9 million over the last 24 hours from Binance as of presstime. Source

U.S. Bank Regulators Investigating Leaders of the Failed Tech Banks

Barr said the bank was a “textbook case of mismanagement.” And its government minders were well aware it had serious problems. In 2021, the supervisors found issues with its liquidity management, and in 2022, they determined an array of problems with board oversight, risk management and internal auditing, Barr said. That summer, they dropped the bank’s management and governance ratings to alarm-bell levels, subjecting it to growth restrictions. Original Source BankBanksfailedInvestigatingLeadersRegulatorsTechU.S CryptoX Portal

Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis – Economics Bitcoin News

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After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth asserts that the banking industry is facing problems that “nobody wants to call a banking crisis.” Ignoring the U.S. Bank Crisis There have been numerous opinions and statements from financial experts and officials following the…

Ted Cruz and Ron DeSantis take on the ‘digital dollar’: Law Decoded, March 20–27

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Two lawmakers in one week weighed in against the possibility of a United States central bank digital currency (CBDC). Florida Governor Ron DeSantis — expected by many to throw his hat into the ring for the 2024 U.S. presidential race — has called for a ban on a digital dollar in the state. DeSantis spoke out against the Federal Reserve issuing and controlling a CBDC, claiming the initiative would grant “more power” to the government.  Texas Senator Ted Cruz went even further, introducing a bill to block the Fed from…