CryptoX – Cryptocurrency Analysis and News Portal Pressure on the U.S. banking system is questioning whether the Fed can push ahead with such an aggressive tightening cycle, analysts at ING said. Source The post Silicon Valley Bank Rocks Crypto and Equity Markets Ahead of Nonfarm Payrolls appeared first on CryptoX. CryptoX Portal
“Silicon Valley Bank (SIVB), another crypto-friendly bank, comes under pressure. The bank is generally regarded as one of the default fallback options for industry participants impacted by the collapse of Silvergate. Operation Chokepoint 2.0 continues tightening its grip,” Ilan Solot, co-head of digital assets at Marex, said in an email, referring to Silvergate Bank, a crypto bank that is closing down, and to a government crackdown in 2013 on banks that did business with the gun sellers. Source
Lego, the Danish toy company famous for its colorful plastic bricks, expects to diversify its entertainment offerings portfolio, targeting the metaverse. The company is preparing to present a virtual world in partnership with Epic Games, the gaming engine company, to continue increasing its market share and growth streak by entering new digital markets. Lego to Present Digital World Initiative Lego, the interlocking toy brick company, is preparing to present details of a metaverse initiative built in partnership with Epic Games, the company behind Fortnite, according to the Financial Times. The…
Silvergate Bank recently announced the closure of Silvergate Exchange Network (SEN), which facilitated off-blockchain money transfers between major investors and crypto exchanges. The decision was made due to concerns about Silvergate Capital Corp’s ability to continue as a “going concern.” With the discontinuation of SEN, analysts evaluate the network’s true value as a core part of the nascent crypto-markets infrastructure and explore alternative options, such as other blockchain firms or traditional banks, to fill the gap left by SEN. SEN enabled accounts to transfer money at Silvergate instantly between each…
On its live summit, “The Crypto Winter Recovery Plan,” Cointelegraph Markets Pro revealed how traders could have mostly avoided a gut-wrenching 75% pullback in the crypto market while securing mind-boggling gains. The Cointelegraph Markets Pro team argues that while hodlers tied their capital into a capitulating market, nimble Markets Pro members were able to capitalize on real-time, institutional-grade crypto market intelligence to capture significant risk-adjusted profits. The results were staggering! Cointelegraph Markets Pro traders could’ve secured returns up to 120 times their initial investment — 12,000%, not 120% — using…
European markets remained flat on Tuesday as all eyes are on Jerome Powell’s imminent congressional statement. European markets are currently flat as investors await the congressional testimony by Federal Reserve Chair Jerome Powell. For instance, the pan-European Stoxx 600 remained flat today as trading began, with most sectors hovering in slightly positive territory. Meanwhile, tech stocks were down 0.3% and at the forefront of modest losses. Conversely, retail was up 0.8% to lead gains. Powell’s fiscal comments, which are due Tuesday and Wednesday, should provide further clues regarding the apex…
After a significant spike in February, sales of non-fungible tokens (NFTs) in the last seven days are 32.32% lower than last week. Of the 19 different blockchains, Ethereum accounted for $148.56 million out of the total $186.20 million in NFT sales settled this week. NFT Sales Decline Following February Spike in Digital Collectible Purchases During the past seven days, NFT sales totaled $186.20 million among 760,857 buyers. Although the number of buyers increased by 55.41% last week, sales volume decreased by 32.32%, and NFT transactions fell 91% compared to the…
Bitcoin was down 5% early Friday, a day after a spout of negative developments surrounding crypto-friendly U.S. bank Silvergate Capital (SI). On Thursday, Coinbase (COIN), Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy Digital and Gemini all announced they will suspend Automated Clearing House transfers and other business operations with the bank. Silvergate’s stock tumbled 58% to $5.72 on Thursday. The wider crypto market also lost ground with major altcoins taking a hit on Friday. Ether, the second-largest cryptocurrency by market capitalization, shed 5%, filecoin (FIL) lost 9%, aptos (APT)…
Bitcoin dropped to a two-week low on Friday, as crypto markets continued to react to the uncertainty surrounding Silvergate. The solvency of the bank has been put into question, with Binance, Coinbase and other exchanges moving to halt transactions. Ethereum also edged lower, falling below $1,600 in the process. Bitcoin Bitcoin (BTC) plunged further into the red on Friday, as markets reacted to fallout surrounding Silvergate. The crypto bank recently announced that it wouldn’t be able to file its annual report to the Security and Exchange committee, whilst hinting at…
Invest Answers, one of the most influential voices in the world of finance on YouTube, has just made a bold prediction about bitcoin’s future in March 2023. Invest Answers, a popular YouTube channel, broadcasted its monthly outlook on Thursday, discussing the performance and behavior of bitcoin and various other cryptocurrencies. A bright near term view on bitcoin Invest Answers shared their thoughts on what we can expect from bitcoin in the coming months. According to the YouTube giant, bitcoin is poised for a strong rally in March 2023, showing that…