The report from US government denounces Bitcoin stating that it’s not an effective store of value nor an effective medium of exchange.
Coinbase urged the SEC to take a different approach over crypto staking or it could have significant economic consequences for the crypto ecosystem.
Bitcoin delivers a strong rally as the banking crisis unfolds in the US and Europe. All eyes will be on the FOMC meeting ahead this week on Tuesday.
The recent money infusion by the Fed would help banks to address short-term funding needs. Crypto market rally citing the reason of Fed’s pivot.
Gensler’s comments spark debate over Ethereum’s jurisdictional rights. Last week, the CFTC said that Ethereum shall be treated as a commodity and not security.
An NYDFS spokesperson said that Signature Bank did not provide “reliable and consistent data, creating a significant crisis of confidence in the bank’s leadership”.
As Meta drops NFTs, it plans to continue investing in FinTech tools and streamlining payments with Meta Pay.
Circle said that they have initiated the transfer of its $3.3 billion reserves from SVB to other banking partners. However, the settlement is still pending as investors will watch what happens today.
The crypto market tanked along with a sharp correction on Wall Street as the Silicon Valley Bank (SVB) faces a crisis-like situation.
As Silvergate Bank goes into liquidation, it said that it would consider how best to resolve claims and preserve the residual value of its assets, including its proprietary technology and tax assets.