[ad_1] The United States’ most powerful financial regulators gathered March 24 by video conference for an unscheduled, closed meeting of the Treasury Department’s Financial Stability Oversight Council (FSOC), the department announced in a statement. Treasury Secretary Janet Yellen convened the meeting.Details were sparse in the Treasury statement, but it said Federal Reserve Bank of New York staff gave a presentation on market developments. The gist of the presentation was reassuring:“The
[ad_1] Hong Kong-based Animoca Brands, a developer of blockchain gaming technology, has reportedly cut its target for its metaverse fund by a further 20% to $800 million, Reuters reported citing sources familiar with the matter.The blockchain gaming technology company reportedly scaled back on its billion-dollar goal due to volatility in the crypto sector. The company had previously announced in November 2022 that it was working on a new Animoca Capital
[ad_1] Take, for example, the recent issues that Circle-issued USD Coin (USDC) faced when it depegged from the U.S. dollar following Silicon Valley Bank’s collapse. Two weeks later, Mastercard boldly integrated the stablecoin into its infrastructure in the Asia-Pacific region, allowing users to spend USDC through its network. It’s happening, folks!And let’s not forget about Bitcoin (BTC) — that digital gold is still on the rise and decoupling from Wall
[ad_1] On March 23, Bitcoin (BTC) price recovered the $28,000 support after a brief correction below $27,000. The movement closely tracked the traditional financial sector, particularly the tech-heavy Nasdaq Index, which gained 2.1% as Bitcoin surpassed the $28,000 threshold.On March 22, the Federal Reserve raised its benchmark interest rate by 0.25%, but hinted that it is nearing its maximum level for 2023. In the end, however, Fed Chair Jerome Powell
[ad_1] Deutsche WertpapierService Bank (dwpbank), which offers securities processing to around 1,200 banks in Germany, is creating a new platform, wpNex, that will offer Bitcoin (BTC) to all of its affiliates’ retail customers in the second half of this year. The new service will feature crypto accounts alongside bank customers’ other accounts and will not require additional Know Your Customer procedures, according to local media reports.Wallet-as-a-service provider Tangany and Bankhaus Scheich’s
[ad_1] Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week.The much-awaited airdrop of layer-2 scalability protocol Arbitrum has dominated headlines throughout the week. The hype around the token has led to exploits, fake airdrops and even a significant surge in volume for other layer-2 protocols.Apart from the Arbitrum hype, the Euler Finance hack
[ad_1] MakerDAO, the decentralized autonomous organization (DAO) that governs the DAI stablecoin, has voted overwhelmingly to keep USD Coin (USDC) as the primary collateral for DAI. An alternative proposal to “diversify” collateral into Gemini U.S. Dollar (GUSD) and U.S. Dollar Paxos (USDP) has been rejected in a 20% to 79% vote, according to the proposal’s official page.Vote totals for the proposal to normalize PSM Parameters. Source: MakerDAO official websiteIn the
[ad_1] Bitcoin and altcoins could see profit taking and risk-off positioning as the weekend approaches and investor concerns about Deutsche Bank arise. [ad_2] Source link
[ad_1] The banking crisis could be the spark that will kick off the next crypto bull run, in which Bitcoin (BTC) is likely to outperform all other cryptos, according to Mike McGlone, the senior commodity strategist at Bloomberg Intelligence. Following the collapse of major banks such as Silicon Valley Bank and Credit Suisse, confidence in traditional financial institutions is being shaken and Bitcoin is becoming more attractive as a “hedge against
[ad_1] Bitcoin NFT inscription activity has remained strong with consistency in the daily number of NFTs inscribed on Bitcoin. At the same time, the infrastructure to foster Bitcoin trading is finally coming together with the development of wallets and marketplaces supporting Ordinals.NFT marketplaces, Gamma and Magic Eden, added support for Bitcoin NFTs this week. While the initial response of traders has been subdued, the activity is expected to pick up
