Toni Wahrstätter, an Ethereum researcher who created a Flashbots MEV-monitoring dashboard, told CoinDesk, “In times of extremely high MEV, it’s good to know that the MEV rewards mostly end up with the validators, who don’t have to run complex algorithms, engage in private deals or anything but just be lucky while securing the Ethereum blockchain.” Source
Coinbase has integrated Singpass, making it more convenient for customers to sign up on the exchange. Coinbase, one of the largest cryptocurrency exchanges in the world, has opened funds movement to and from accounts through local banks, consequently streamlining the process of investing in virtual assets. The news comes at a rather bearish time when markets are struggling to keep afloat over financial stability and crypto banking. The exchange of the Singapore dollars is authorized by the conventional bank Standard Chartered and charges zero fees for the conversion. Earlier, customers…
“From a central bank perspective, they’re interested in financial stability and the links between a fiat traditional financial system and the crypto system,” Gordon told The Australian. “The Treasury in Australia is more interested and involved in setting the framework and we believe the RBA will increasingly get more involved as we move forward.” Source
The collapse of Silicon Valley Bank is unprecedented and the reverberations in the broader tech and financial ecosystem are notably very resounding. Silicon Valley Bank (SVB), dubbed as the biggest bank failure since the 2008 financial crisis has revealed that the buyer of the investment portfolio where it recorded a loss of $1.8 billion was the American banking giant, Goldman Sachs Group Inc (NYSE: GS). As reported by Reuters, the company sold the bond portfolio for a book value of $23.97 billion on March 8. Following the sale of the…
The shockwaves caused by the collapse of Silicon Valley Bank (SVB) were felt by countless businesses, including a bank from India that had no relation with the California-based banking institution. Soon after reports of SVB’s imminent shutdown surfaced on March 10, panic spread across the globe as investments tied to one the biggest banks in the US depicted an uncertain future. However, a Mumbai-based 116-year-old cooperative bank — Shamrao Vithal Co-operative Bank (SVC Bank) — got caught in the line of fire. The similarity in the short forms of the…
The volatility caused over $140 million in bitcoin futures and $80 million in ether futures to take on losses. Of this, 58% of futures losses came from shorts, or bets against price rises, while the remaining came from longs, or bets on price rises – meaning both short-sellers and long traders were hit almost equally. Source
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. $213 Billion Annually Research and market intelligence firm Juniper Research published a report on central bank digital currencies (CBDCs) Monday. The firm wrote: The value of payments via CBDCs (central bank digital currencies) will reach $213 billion annually by 2030; up from just $100 million in 2023. This radical growth of over 260,000%…
Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its decision. In a March 14 statement labeled the layoffs as “a strategic realignment to better focus our resources,” and pointed to “broad macroeconomic challenges, and crypto market volatility” as other factors contributing to its shift in strategy. It said the market conditions had boosted demand for its product and client assets under custody “are at an all-time high,” but…
The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people familiar with the matter, investigators with the Justice Department were examining whether Signature took adequate measures to detect potential money laundering by its clients. It was noted the regulator was particularly concerned as to whether the bank was taking preemptive measures to monitor transactions for “signs of criminality” and properly vetting account holders. A separate probe by the Securities and Exchange Commission (SEC)…
Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB). Speaking with Bloomberg Markets on March 14, Allaire said that he believed that “if not everything, very close to everything was able to clear” from the failed lender. USD Coin (USDC) — the stablecoin issued by Circle — briefly de-pegged following news that $3.3 billion of its cash reserves were stuck on SVB. The stablecoin’s dollar…