Day: April 30, 2023

‘I Like BTC for the Same Reason the Chinese Communist Govt Doesn’t Like BTC’ – Featured Bitcoin News

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United States Senator Ted Cruz has said he remains “incredibly bullish on bitcoin” which he described as the “alpha in the crypto sphere.” According to Cruz, people are attracted to bitcoin because they see it as a hedge against inflation and also as an “important check” against government spending. Bitcoin Is Still the ‘Most Dominant’ United States Senator Ted Cruz has said he is “incredibly bullish on bitcoin” and he still believes the “insight that led to its creation is still extraordinary.” In his remarks at an event organized by…

Michelin to launch Michelin 3xplorer Club NFT series on Ethereum

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Global tire manufacturer, Michelin, has announced the launch of the non-fungible token (NFT) series “Michelin 3xplorer Club”. It is set of 5,000 NFTs that will go on sale and be minted on Ethereum on June 15. The renowned Michelin food guide may be connected to the NFT collection. Michelin’s NFT Membership Cards to offer exclusive benefits According to Wu Blockchain, Michelin will release 5,000 NFT series dubbed “Michelin 3xplorer Club” n Ethereum on June 15. It…

First Republic’s crisis is not an isolated incident

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An executive at JPMorgan Asset Management is unsure how United States regional banks are “going to operate” when the Federal Deposit Insurance Corporation (FDIC) and Federal Home Loan Bank (FHLB) emergency lending programs expire – warning that the possible collapse of First Republic Bank may cause a domino effect. In an April 27 Bloomberg television interview, Bob Michele, CIO of JPMorgan Asset Management said that the impact of First Republic’s liquidity issues caused by significant deposit outflows isn’t “just limited” to the bank itself, but could potentially affect the entire…

Paypal Upgrades Crypto Services to 60 Million Venmo Users, Allowing Transfers to External Wallets and Exchanges – Bitcoin News

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After the American financial technology giant Paypal rolled out crypto payments last year, the company is now introducing cryptocurrency transfer services to Venmo users. The firm detailed that Venmo customers will be able to send funds to an existing Paypal account, an external wallet, or a crypto exchange platform. Venmo Customers Can Now Transfer Cryptocurrency to Paypal Users, External Accounts, and Exchanges On April 28, the payments services company Paypal announced that Venmo’s 60 million customers can now enjoy cryptocurrency transfers. The rollout follows Paypal’s crypto transfer launch last summer…

Bitcoin Network Hits 75% Progress Towards Next Reward Halving – Featured Bitcoin News

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At 11:06 a.m. Eastern Time (ET) on April 29, 2023, at block height 787,500, the number of blocks left to discover until the next Bitcoin blockchain halving is now fewer than 52,500 blocks. This means the network has progressed 75% through the 210,000-block halving cycle, which will ultimately result in a reduction of the block reward from 6.25 bitcoins per block to 3.125 bitcoins per block. Bitcoin Halving Countdown: Fewer Than 52,500 Blocks Left to Discover On Saturday morning (ET), the Bitcoin network progressed 75% of the way toward the…

FDIC pins Signature Bank’s failure on poor governance and illiquidity

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The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) revealed poor management and inadequate risk management practices as the root cause for its collapse. Signature Bank was shut down by federal regulators on March 12 in a bid to protect the U.S. economy and strengthen public confidence in the banking system. FDIC was appointed to handle the insurance process. @federalreserve @USTreasury @FDICgov issue statement on actions to protect the U.S. economy by strengthening public confidence in our banking system, ensuring depositors’ savings…

US Senator Rand Paul Warns of US Dollar Losing Reserve Currency Status — Says ‘It’s Not an Unfounded Prediction’ – Economics Bitcoin News

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U.S. Senator Rand Paul has warned that the U.S. dollar could lose its status as a global reserve currency. “For a variety of reasons, both foreign policy as well as fiscal irresponsibility, yes, the dollar is in a precarious position,” said the lawmaker. Senator Rand Paul on U.S. Dollar Losing Reserve Currency Status U.S. Senator Rand Paul (R-KY) shared his concerns about the growing de-dollarization trend and the USD losing its global reserve currency status in an interview with Fox Business Thursday. He was asked: “Is king dollar going to…

FDIC alleges Cross River engaged in ‘unsafe’ lending practices

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The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank — known for its services to fintech and crypto firms like Visa and Coinbase — to “self-correct” and appropriately address weaknesses in its lending activities. On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, which alleged that the bank engaged in “unsafe” or “unsound” banking practices regarding its compliance with applicable fair lending laws and regulations in 2021. Despite accepting the consent order, Cross River has yet to confirm or deny…

FDIC alleges Cross River engaged in ‘unsafe’ lending practices

The Federal Deposit Insurance Corporation (FDIC) has requested Cross River Bank – known for its services to fintech and crypto firms like Visa and Coinbase – to “self-correct” and appropriately address weaknesses in its lending activities. On April 28, the FDIC made public a consent order executed with Cross River Bank on March 8, alleging that the bank engaged in “unsafe” or “unsound” banking practices related to its compliance with applicable fair lending laws and regulations in 2021. Despite accepting the consent order, Cross River has yet to admit nor deny…

Visa stablecoin plan, debt ceiling’s effect on Bitcoin price: Hodler’s Digest, April 23-29

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Top Stories This Week Circle launches cross-chain USDC transfer protocol Circle launched a cross-chain protocol that enables USDC transfers between the Ethereum and Avalanche blockchains. The protocol works by burning the selected amount of native USDC on the source chain, and minting an equivalent amount of new USDC on the intended destination chain. The protocol essentially makes USDC transfers between the two networks faster and more user-friendly, as prior to its launch, people had to use third-party bridges or a Circle partner to facilitate transfers between the two networks. Additional…