Currently, the flight is from bank deposits to the U.S. Treasury money markets, but as the ether yield economy becomes more mainstream, “it is hard not see more demand for ETH deposits and ETH yields,” analysts Gautam Chhugani and Manas Agrawal wrote. Source
“During the last peak in 2019, most Bitcoin transactions skewed towards larger transactions, in the range of $1,000 to $10,000,” said Tom Rodgers, Head of Research at ETC Group, in an email to CoinDesk.“This suggests most Bitcoin users were using the blockchain for trading.” Original
Investigations into the collapse of Signature Bank point toward illiquidity circumstances and poor management. However, the Federal Deposit Insurance Corporation (FDIC) chairman, Martin Gruenberg, believes the bank’s failure to understand the risks associated with cryptocurrencies expedited its fall. Speaking at a recent United States House of Representatives Financial Services Committee hearing on Oversight of Prudential Regulators, Gruenberg highlighted the recent failures of Silicon Valley Bank (SVB) and Silvergate Bank, which eventually manifested in large declines in stock prices and subsequent deposit outflows at other banks. A related report by the…
The change improves transaction speed and aims to beef up security on the platform, Kava says. Source
The announcement of high United States consumer debt comes as the debate for the national debt ceiling raises concerns over high inflation. The New York Federal Reserve reported on Monday that the total consumer debt hit a new ATH of slightly above $17 trillion during the first quarter of 2023. According to the announcement, the total borrowing for the first quarter increased by about $150 billion, approximately 0.9 percent, to about $17.05 trillion. As a result, the total consumer debt increased by about 20 percent to $2.9 trillion since 2029,…
However, nobody at BlockFi bothered to follow through with this, including the restructuring team, and no bond was posted, the creditors said. “It’s a good thing the federal government stepped in to bail out all SVB depositors, including BlockFi,” they wrote. Source
At a minimum, these revenue sources likely would be targeted by the SEC in the enforcement action that we expect the commission to file soon,” analyst Mark Palmer wrote, adding that some of Coinbase’s other revenue streams, such as interest income from USD Coin (USDC) and custody, may also “get caught up in the SEC’s crypto-industry dragnet in the near future.” Source
In addition, the SEC raised a fresh allegation against Musk for tweeting that Tesla would produce around 500,000 cars this year. Tesla (NASDAQ: TSLA) and Twitter CEO Elon Musk failed in his latest attempt to appeal a 2018 settlement with the US Securities and Exchange Commission (SEC). This settlement requires scrutinization of every Tesla-related tweet made by the Tesla boss. Musk was alleged to have tweeted some misleading facts about the company. Since then, the SEC has stated that a legal representative of his automobile company must approve his Tesla-related tweets…
Peter Schiff, best-selling author and chief economist of Europac, has warned about the coming of a new great depression period in America. In an interview, Schiff stated that official Consumer Price Index (CPI) numbers were designed to mislead the public and that the country was going to face a depression worse than the one it faced back in the 1930s. Peter Schiff Warns of Great Depression With Prices Rising Peter Schiff, economist and best-selling author, has warned about an upcoming economic crisis that will unleash a new Great Depression far…
Atlendis Labs is a blockchain-based credit marketplace that offers revolving credit lines for small and medium-sized businesses and fintech firms. Source