Tag: News

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual – Bitcoin News

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After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank. Federally Insured Depositors to Withdraw Funds on Monday, Uncertainty Looms for Depositors With Accounts Exceeding $250K On Friday, U.S. regulators closed Silicon Valley Bank (SVB) following a significant drop in the firm’s stock value and reports of a bank run on deposits. SVB’s shares were halted…

The Cryptocurrency Betting Revolution on Wintop․io – Sponsored Bitcoin News

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sponsored Since December 2022, Wintop.io has been strongly growing into the crypto world. A new vision of the betting industry, combining crypto and the most exciting casino and sport games, is now available on https://www.wintop.io/ with a wide variety of bonuses and promotions, for all the types of players. It is an idea for a new iteration of the gambling which incorporates concepts such asdecentralisation, blockchain technologies, and token-based economics. The connectors available on Wintop.io,such as Metamask or Wallet connect, allow users to register and deposit in just one click.…

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30% – Bitcoin News

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On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion increase in military spending, but the administration claims it will reduce the deficit by $3 trillion over the next decade. Additionally, the budget proposes “closing a loophole that benefits wealthy crypto investors” and plans to gradually introduce a 30% tax on the electricity used in cryptocurrency mining. Biden Budget Aims to Reduce Deficit by…

DOGE Down 10%, Falling to Lowest Point Since October – Market Updates Bitcoin News

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Dogecoin fell to its lowest level since October, as cryptocurrency prices plunged during Friday’s session. Overall, the global crypto market cap dropped by nearly 9% today, which seems to have been triggered by yesterday’s liquidation of Silvergate bank. Litecoin has been another notable mover, falling by over 17%. Dogecoin (DOGE) Dogecoin fell to a five-month low on Friday, as crypto prices continued to plummet, following the liquidation of Silvergate Bank. DOGE/USD dropped to an intraday low of $0.06302 earlier in the day, less than 24 hours after trading at a…

Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss – Bitcoin News

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On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution “will be well positioned” and is “well capitalized” going forward. SVB’s stock, SIVB, was halted during the premarket trading session on Friday after the bank announced it would release news. As SVB’s Foundations Shake, Concerns Grow Over a Potential…

BTC Under $20,000 as ETH Sinks Below $1,400 on Friday – Market Updates Bitcoin News

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Bitcoin fell below the $20,000 level for the first time since January, as markets continued to react to the liquidation of Silvergate Bank. This comes ahead of a pivotal U.S. nonfarm payrolls report, which could decide how aggressive the Federal Reserve acts in its upcoming meeting. Ethereum moved under $1,400 in today’s session. Bitcoin Bitcoin (BTC) fell for a fifth straight session on Thursday, as markets continued to react to the Silvergate Bank liquidation. The bank confirmed that it will be winding down its operations, leading U.S. Senator Elizabeth Warren…

Thai Govt to Grant Tax Waivers to Issuers of Digital Asset Investment Tokens – Taxes Bitcoin News

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Thailand’s government has said companies that issue digital tokens will receive a waiver that exempts them from paying corporate and value-added tax. According to a report, the Thai government anticipates losing just over $1 billion in tax revenue as a result of the waiver. Relaxation of Tax Rules for Investments in Digital Assets Thailand-based companies that issue digital tokens for investments are set to receive a corporate and value-added tax waiver, the Thai government has reportedly said. As a result of the waiver, the Thai government, which is projecting investment…

Iran’s Crypto Rial Project Enters Trial Phase – Finance Bitcoin News

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The pre-trial stage of the project to introduce a digital Iranian rial has been completed successfully, the country’s central bank announced. The authorities in Tehran plan to expand the use of the state-backed currency and integrate it into Iran’s payment system. Iranian Government Prepares to Trial Its Digital Currency The project to issue a digital version of the Iranian national fiat, also referred to as the “crypto rial,” is entering its trial phase, the head of the payment systems supervision department of the Central Bank of Iran (CBI) revealed this…

Founders of Multimillion-Dollar Global Crypto Ponzi Scheme ‘Airbit Club’ Plead Guilty – Regulation Bitcoin News

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The founders and promoters of multimillion-dollar cryptocurrency Ponzi scheme Airbit Club have pleaded guilty to various criminal charges. Airbit Club victims were promised “guaranteed daily returns on any membership purchased,” the U.S. Department of Justice (DOJ) detailed. Airbit Club’s Operators and Promoters Plead Guilty The U.S. Department of Justice (DOJ) announced Wednesday that six people behind Airbit Club, a crypto Ponzi scheme that purported to be a cryptocurrency mining and trading company, have pleaded guilty. The six individuals are Airbit Club co-founders (Pablo Renato Rodriguez and Gutemberg Dos Santos), senior…

Join the Plena Smart Wallet Referral Program and Win Big with $1,000,000 in PLENA Tokens – Press release Bitcoin News

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press release PRESS RELEASE. Plena Smart Wallet, which is one of the first self-custodial wallets to support Account Abstraction is thrilled to unveil its hotly anticipated referral program that offers rewards worth up to $1,000,000 in $Plena tokens. The program aims to incentivize users to invite their friends and family to join the platform while offering them a chance to earn some significant rewards.The rules are fairly simple and straightforward. To participate in the program, users simply need to share their referral link with their friends and family. Once a…