Month: March 2023

Ledger CEO: The collapse of banks is a ‘crash course to Bitcoin’

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The collapse of major banks highlights the need for Bitcoin (BTC) and self-custody according to Pascal Gauthier, the CEO and Chairman of hardware wallet provider Ledger.  In an interview with Cointelegraph reporter Joseph Hall at the Paris Blockchain Week, Gauthier spoke about how recent events show how BTC can be a safe haven against the threat of central authorities. He explained that: “Bitcoin was designed in reaction to Lehman Brothers in the 2008 crisis. It was designed because you can’t trust central authorities. And, it’s designed because it’s clear that…

Bitcoin Currently Outperforms 97% of S&P 500 Companies and Gold in 2023, Analyst Expects Crypto Supercycle 

Mike McGlone anticipates a Bitcoin Supercycle due to the asset’s raving performance despite economic circumstances. Commodity strategist Mike McGlone believes that a Bitcoin (BTC) Supercycle is on the horizon amid the leading crypto’s 2023 price upswing. According to the Bloomberg Intelligence senior commodity strategist, BTC’s recent performance compared to gold proves his claim. The prominent digital currency has outperformed gold almost tenfold this year and appears set to continue rising. McGlone also added that Bitcoin is on course for “new highs” if past trends hold, with volatility more likely to recover compared…

Banking turmoil pushes crypto to ‘no oversight’, says Circle CEO

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The ongoing crisis and uncertainty around the global banking system could push the cryptocurrency market into a more gray area in terms of regulation, Circle chief executive believes. Jeremy Allaire, CEO of the USD Coin (USDC) issuer Circle, took to Twitter on March 23 to share his reflections regarding the market dynamics in the aftermath of the Silicon Valley Bank (SVB) collapse. In the Twitter thread, Allaire highlighted the “deep market anxiety” about general exposure to the financial system of the United States and the risk of a large-scale U.S.…

Terraform Labs co-founder Do Kwon reportedly arrested in Montenegro

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According to a post from Filip Adzic, minister of the interior of Montenegro, an individual suspected of being Terra co-founder Do Kwon has been arrested within the territory of the Balkan nation on March 23. Since the announcement was first made, local news outlet Vijesti has confirmed that the Twitter account that made the announcement is from the minister of the interior of Montenegro and that the individual arrested was a South Korean national.  The same day, South Korean local news outlet Yonhap News Agency said authorities confirmed based on “photo…

US enforcement agencies are turning up the heat on crypto-related crime – Cointelegraph Magazine

On the evening of Jan. 7, Anatoly Legkodymov, founder of the cryptocurrency exchange Bitzlato, was arrested in Miami. The following day, the United States Department of Justice (DOJ) unsealed a complaint in federal court charging him with “conducting a money transmitting business that transported and transmitted illicit funds.” According to the DOJ, Bitzlato failed to meet U.S. regulatory safeguards, including Anti-Money Laundering requirements.  Less than a month earlier, former FTX CEO Samuel Bankman-Fried was arrested in the Bahamas. In a statement, U.S. Attorney General Merrick Garland said, “The Justice Department…

UAE central bank signs deal for CBDC strategy

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The Central Bank of the United Arab Emirates (CBUAE) is inching closer to fully launching its central bank digital currency (CBDC) — the digital dirham — for domestic and cross-border payments. According to an announcement on March 23, the CBUAE signed an agreement with Abu Dhabi’s G42 Cloud and digital finance services provider R3 to be the infrastructure and technology providers of the CBDC implementation. In addition to addressing the challenges of domestic and cross-border payments, the central bank says it will also help boost financial inclusion as the country looks to…

Arbitrum’s ARB Token Trades at $3.99 as 625,143 Wallets Receive Airdrop

The official claim for the token went live at the Ethereum block height of 16,890,400 at 13:05 UTC. The claim website went down under heavy traffic, as did the blockchain’s block explorer. Arbitrum, which started operating in 2021, is the largest layer 2 blockchain on Ethereum, achieving scalability by using a technique called transaction rollups, which sends batches of transactions to the Ethereum mainnet. Source