[ad_1] The collapse of Silicon Valley Bank (SVB) and Silvergate Capital, some of the most crypto-friendly banks in the industry, has forced many crypto firms to hold their breath. The loss of a significant banking partner for many companies means it will be even harder for them to comply with regulations and offer their services in a way that is consistent with the expectations of the United States Securities and
[ad_1] Michael Bennet, a United States Senator representing the state of Colorado, has suggested that banks that associated with crypto firms did not make “prudentially sound” decisions.Speaking at a March 16 hearing of the Senate Finance Committee, Bennet brought up the recent closure of the crypto-friendly Signature Bank with lawmakers and Treasury Secretary Janet Yellen in a discussion of U.S. President Joe Biden’s FY 2024 budget. The Colorado senator drew
[ad_1] Lending protocol and stablecoin issuer MakerDAO passed a proposal on March 16 to increase its portfolio holdings of United States Treasury bonds by 150%, from $500 million to $1.25 billion.The proposal aims to increase the protocol’s exposure to real-world assets and “high-quality bonds,” following its Dai (DAI) stablecoin losing its $1 peg during market volatility on March 11. The $750 million debt ceiling hike was approved by 77% of
[ad_1] The Swiss Bankers Association released a white paper on how Swiss banks can support the development of the country’s digital economy. A Swiss franc “joint” deposit token is the solution the group settled on. Stablecoins have limited penetration in the Swiss financial system, even as end-to-end digitization is becoming more common in business models, and no Swiss stablecoins are accessible by the general public, the paper said.The authors of the
[ad_1] The rejection that followed Bitcoin's (BTC) rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since March 10, when the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB).The recent price increase could be attributed to various factors, including the extraordinary $25 billion funding by
[ad_1] The Solana-based decentralized exchange (DEX) Orca will block all United States users from trading using its web interface beginning March 31, according to a March 16 notice posted to its official website. The exchange did over $634 million worth of trading volume in February and has over $46 million total value locked in Solana smart contracts, according to DefiLlama. On March 16, the protocol’s website added a notification that read,
[ad_1] A target date for the highly anticipated Shanghai hard fork has now been set: April 12. Ethereum core developers approved the target deadline during the All Core Developers Execution Layer #157 call on March 16.Initially estimated for late March, the Shanghai mainnet upgrade features five Ethereum Improvement Proposals (EIPs), including EIP-4985, which will enable staked Ether (ETH) withdrawals on the Beacon Chain, completing Ethereum's transition from proof-of-work (PoW) to
[ad_1] A class-action suit led by Edwin Garrison has been filed against “FTX influencers,” mostly on YouTuber, seeking $1 billion because they “promoted FTX crypto fraud without disclosing compensation.” The suit was filed March 15 in the Southern District of Florida Miami Division.Kevin Paffrath, Graham Stephan, Andrei Jikh, Jaspreet Singh, Brian Jung, Jeremy Lefebvre, Tom Nash, Ben Armstrong, Erika Kullberg and Creators Agency LLC were named as respondents. The Moskowitz
[ad_1] A series of events erupted in the official Shiba Inu (SHIB) Discord on Mar. 17, when a top-ranked community member, Steve, alleged identical chain IDs between that of the Shibarium layer-2 beta testnet ID and the Rinia testnet ID, an existing blockchain."So why is it that it looks like shibarium test net has taken rinia testnet genesis file Changed the name from renia But forgot to change the chain
[ad_1] The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of banks including Signature, Silicon Valley Bank, and Silvergate.In a March 16 notice, the Blockchain Association said it had submitted Freedom of Information Act requests to the Federal Deposit Insurance Corporation, the board of governors of the Federal Reserve System,
