Tag: News

Africa-Focused Fintech Chipper Cash Weighs Possible Sale of Business – Fintech Bitcoin News

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One of Africa’s fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had insignificant exposure to both SVB and Signature Bank. Chipper Cash ‘Never Sought to Be Acquired’ The FTX and Silicon Valley Bank (SVB) backed-African fintech giant, Chipper Cash, is weighing options including the sale of the business or bringing in new investors, a Bloomberg report that cites unnamed sources has said. According…

Russian Parliament Votes on Bill Opening Door for Digital Ruble – Finance Bitcoin News

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Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower house of Russian parliament, the State Duma, has adopted in the first reading a bill introducing legislative changes necessary for the realization of the digital ruble project. Most notably, it seeks to amend the law…

Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners – Regulation Bitcoin News

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The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in Ongoing Regulatory Efforts The Russian Association of Cryptoeconomics, Artificial Intelligence and Blockchain (Racib) has asked Finance Minister Anton Siluanov to explain a proposal made by his department to introduce penalties for cryptocurrency miners violating the…

US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System – Regulation Bitcoin News

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The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks and U.S. Banking Crisis The governor of India’s central bank, the Reserve Bank of India (RBI), cautioned about the risks cryptocurrencies pose to the financial system while commenting on the U.S. banking turmoil at the…

Dubai Free Trade Zone Partners With South Korean Companies to Expand Web3 and Metaverse Business – Metaverse Bitcoin News

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The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain hub in the region. Dubai Free Trade Zone Inks Web3 and Metaverse Partnership With South Korean Entities Dubai is working to solidify its image as a worldwide decentralized tech hub. The Dubai Multi Commodities Centre, one of the biggest free…

Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps – Economics Bitcoin News

The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if necessary. European Central Bank Hikes Rates in Battle Against Inflation The European Central Bank (ECB) has decided to keep raising interest rates in its war against inflation. On March 16, the institution announced a hike…

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change – Bitcoin News

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At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and cryptocurrencies have rebounded, a number of speculators suspect it’s because the U.S. central bank will now relax its monetary tightening policy. 4 Major Banks Bailed Out Following Silvergate Bank’s Collapse; Federal Reserve’s Easing Sparks Rebound…

$7.4B Dollar-Pegged Tokens Withdrawn From Circulation – Altcoins Bitcoin News

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During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed. Stablecoin Depegging Event Triggers Billions in Redemptions The stablecoin landscape has undergone significant changes this month after a stablecoin depegging event took place on March 11. During this time, USDC dropped to a low of $0.877 per coin, and half a dozen other stablecoins also…

SVB Financial Group Files for Chapter 11 Bankruptcy Protection to ‘Preserve’ Firm’s Value – Bitcoin News

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On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week. 3 SVB Entities Unaffected by Bankruptcy Filing; CEO Faces Scrutiny for Share Sale Before Silicon Valley Bank Collapse On Friday, SVB Financial Group released a press release detailing its voluntary petition for a court-supervised reorganization under…

LINK Climbs Above $7.00, as DOGE Rebounds From Recent Decline – Market Updates Bitcoin News

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Dogecoin rebounded from a recent decline on Friday, as cryptocurrency markets shook off yesterday’s bear wave. The meme coin has now risen by over 5%, a day after falling by the same sum. Chainlink was another notable mover, as prices climbed by over 7%. Dogecoin (DOGE) Dogecoin (DOGE) rose by as much as 5% in today’s session, as the meme coin recovered from yesterday’s bear run. Following a low of $0.07007 on Thursday, DOGE/USD raced to an intraday high of $0.07579 earlier today. The move came as dogecoin bulls bought…