Tag: News

Economist David Rosenberg Warns of ‘Crash Landing’ and Recession, Citing Fed Data – Economics Bitcoin News

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Famed economist David Rosenberg has warned of a “crash landing” and an impending recession for the U.S. economy. Referring to the Philadelphia Fed’s manufacturing index chart, he stressed: “Take a good hard look at this chart and tell me we are heading into a ‘soft’ or ‘no’ landing. More like a ‘crash’ landing.” Economist Expects a Crash Landing Famed economist David Rosenberg warned that the U.S. economy may be headed for a crash landing in a tweet last week. Rosenberg is the president and chief economist of Rosenberg Research. He…

FL Gov. DeSantis Proposes Ban on Central Bank Digital Currency Use as Money – Bitcoin News

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Governor Ron DeSantis of the U.S. state of Florida has proposed legislation to prohibit the use of central bank digital currency (CBDC) as money in his state. “The Biden administration’s efforts to inject a centralized bank digital currency is about surveillance and control,” the governor warned. Governor Ron DeSantis Proposes Law to Prevent Financial ‘Weaponization’ Through a CBDC Florida Governor Ron DeSantis announced “comprehensive legislation” Monday to protect consumers and businesses in his state “from the Biden administration’s weaponization of the financial sector through a central bank digital currency (CBDC).”…

Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations – Bitcoin News

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On Monday, about a week after the collapse of Signature Bank, the Federal Deposit Insurance Corporation (FDIC) announced that Flagstar Bank, a wholly owned subsidiary of New York Community Bancorp, acquired 40 former branches of Signature and its assets. Flagstar assumed nearly all of Signature’s deposits, except for $4 billion of deposits related to the bank’s crypto banking business. FDIC Expects $2.5 Billion Loss from Signature Bank Failure, Extends Bid Window for Silicon Valley Bank The FDIC has announced that Flagstar Bank, a subsidiary of New York Community Bancorp, has…

Lido’s Staked Ethereum Token STETH Reaches $10.3B Market Capitalization, Ranks Ninth by Market Valuation – Defi Bitcoin News

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With the crypto economy experiencing significant gains over the past week and the price of ethereum rising 11.9%, the market capitalization of Lido’s staked ether has increased to $10.3 billion. This recent increase has propelled the token’s overall market valuation to the ninth-largest position, according to the crypto market capitalization aggregation website coingecko.com. Lido Finance’s TVL Dominates Defi with a 21.59% Share The value of liquid staking tokens associated with ethereum (ETH) has increased significantly over the last week following ether’s 11.9% gains against the U.S. dollar. In particular, Lido’s…

First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower – Bitcoin News

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After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares fell more than 15% on Monday morning when Wall Street opened and by 1:15 p.m. (ET), the stock was down more than 25%. First Republic Bank Shares Slide 25% Lower Despite $30B Cash Infusion From…

Revolutionary DeFi Protocol IPOR to Be Listed on Bitget on Mar 22nd, 2023 – Press release Bitcoin News

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press release PRESS RELEASE. Victoria, Seychelles, 20th March, 2023 – Bitget, the largest crypto copy trading platform, has announced the upcoming listing of IPOR in its Innovation Zone of the spot market. The deposit services for digital assets will be available from 7 AM on March 22nd, 2023 (UTC), with trading set to commence at 12 PM (UTC) on the same day. IPOR Protocol is a decentralized interest rate derivative exchange that utilizes the Inter Protocol Over-block Rate (IPOR) index. It offers non-custodian on-chain interest rate swaps through the IPOR…

SOL Over 8% Higher to Start the Week – Market Updates Bitcoin News

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Solana rose by as much as 8% to start the week, as the token moved toward a one-month high. The token climbed for a second straight session, as the global banking crisis pushed investors towards cryptocurrencies. Chainlink was also higher, hitting a three-week high. Solana (SOL) Solana (SOL) moved closer to a one-month high to start the week, as prices surged by as much as 10% in today’s session. Following a low of $21.59 on Sunday, SOL/USD raced to an intraday peak of $23.83 earlier in the day. As a…

Several Major Central Banks Take Coordinated Action to Boost Liquidity Amidst Banking Crisis – Bitcoin News

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On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced a coordinated action to enhance the provision of liquidity via the standing U.S. dollar liquidity swap line arrangements. The announcement followed a banking crisis that began with the collapse of three U.S. banks and spread internationally. Turmoil in Banking Industry Leads to Coordinated Action to Enhance Liquidity Before Wall…

BTC Starts the Week Above $28,000, as Global Banking Crisis Worsens – Market Updates Bitcoin News

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Bitcoin was trading above $28,000 on Monday, as cryptocurrencies extended a bull run to start the week. This upwards sentiment comes as the Federal Reserve and other major central banks made coordinated moves to enhance market liquidity. Ethereum continues to trade close to $1,800. Bitcoin Bitcoin (BTC) started the week trading above $28,000, as markets responded to the deepening global banking crisis. The coordinated action by several major G7 central banks comes as Credit Suisse was bought out by rival UBS, a move engineered by Swiss authorities. BTC/USD jumped to…

Blockchain to Become More Relevant in Payments This Year, Sberbank Exec Says – Blockchain Bitcoin News

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Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s Troubles With Settlements in Blockchain With major Russian banks disconnected from the main global interbank payment system, SWIFT, due to Moscow’s war on Ukraine, blockchain will help to solve the problem with payments, Sberbank’s First Deputy CEO Alexander Vedyakhin is convinced. “It is blockchain technology that will make it possible to…