Bitcoin News / Bitcoinist - 2 years ago
USDC has been hit with a bearish wave following news of the collapse of Silicon Valley Bank on March 11. The stablecoin issuer Circle had revealed that it had $3.3 billion in deposits with the defunct bank, contributing to uncertainty regarding USDC....
Bitcoin News / Bitcoinist - 2 years ago
There might be some hope for Silicon Valley Bank to spring back to life. Twitter and Tesla big boss Elon Musk hinted at the possibility of the social media behemoth purchasing the beleaguered Silicon Valley Bank. “I think Twitter should buy SVB...
Bitcoin News / Bitcoinist - 2 years ago
Many crypto investors have lost their funds in scams such as BKCoin. For instance, Bitcoinist reported that the DeFi sector recorded a whopping $678 million to hackers in the second quarter of 2022, confirming the risks inherent in the industry. Sur...
Bitcoin News / Bitcoinist - 2 years ago
Every crypto investor’s nightmare starts when a sudden change in the industry leads to panic and massive selloffs. The effect of these two occurrences usually leads to uncontrollable price dips and deep losses for investors. An example of such an ev...
Bitcoin News / Bitcoinist - 2 years ago
Reports have shown that BlockFi also has $227 million in the troubled Silicon Valley Bank, which wasn’t insured. Notably, SVB is not managing the fund directly. As the saga of the Silicon Valley Bank shutdown continues, more victims are emergi...
Bitcoin News / Bitcoinist - 2 years ago
The crypto market suddenly turned red on March 10 in the year’s worst sell-off. Bitcoin slipped below $20,000 for the first time in three months, and the market sentiments are bearish. The aftermath of the crash has leveraged traders reeling wi...
Bitcoin News / Bitcoinist - 2 years ago
Stablecoin issuer Circle disclosed late Friday that around $3.3 billion of its $40 billion USDC reserves remained at Silicon Valley Bank. This comes after the high-tech lender’s share price dropped precipitously in response to a run on deposits...
Bitcoin News / Bitcoinist - 2 years ago
The cryptocurrency market has seen a decline in the value of Dogecoin (DOGE) as massive amounts of fear, uncertainty, and doubt swept across the market after Silicon Valley Bank collapsed on Friday morning as a result of a bank run and a capital cris...
Bitcoin News / Bitcoinist - 2 years ago
On-chain data shows the Bitcoin price is now making a retest of its realized price, can this help push the asset’s value back up and restart the rally? Bitcoin Is Now Retesting Its Realized Price Of About $19,700 As an analyst in a CryptoQuant...
Bitcoin News / Bitcoinist - 2 years ago
Crypto enthusiasts and users understand the risks inherent in digital asset investments. Besides losing funds in price crashes, investors can lose money through scams, pump-and-dump schemes, exchange and protocol hacks, Ponzi schemes, etc. Recently,...
Bitcoin News / Bitcoinist - 2 years ago
Many cryptocurrencies including Bitcoin are trading at deep losses today. At the time of writing, some top coins including XRP, MATIC, and BNB, are all down by more than 5% in 24 hours, respectively. While BTC records a 7.88% loss in 24 hours, ETH is...
Bitcoin News / Bitcoinist - 2 years ago
Regardless of the condition of the crypto market, regulators are still leaving their mark in the industry using their respective power. On March 8, Thailand’s Securities and Exchange Commission (SEC) published an announcement targeting crypto staking...
Bitcoin News / Bitcoinist - 2 years ago
The saga of the FTX exchange, its sister company Alameda Research, and former CEO Sam Bankman-Fried continue following the bankruptcy proceedings. So far, There have been many discoveries, rejected pleas, and sales of assets by these parties. The l...
Bitcoin News / Bitcoinist - 2 years ago
In a Twitter announcement, Hedera confirmed an exploit in its mainnet, leading to a loss of liquidity tokens. However, the firm noted the exploit did not impact its consensus layer. Network exploitation is among the challenges of many crypto projects...
Bitcoin News / Bitcoinist - 2 years ago
Another bank is in crisis; Silicon Valley Bank (SVB) has followed the financial freefall amid Federal Reserve (Fed) Chairman Jerome Powell’s hawkish macroeconomic view and tightening policies to control inflation rates. With over 40 years in t...
Bitcoin News / Bitcoinist - 2 years ago
The crypto market has significantly declined, particularly in the last seven days, and altcoins are seeing a blood bath. Crypto assets like Bitcoin, Ethereum, Binance coin, and more are trading in the red zone. In the meantime, it’s impossible...
Bitcoin News / Bitcoinist - 2 years ago
The collapse of many crypto firms in 2022 increased regulatory attention on the industry. Some recent enforcement actions by regulators affected vital activities such as stablecoin issuing and staking services, of which Paxon, Binance, and Kraken hav...
Bitcoin News / Bitcoinist - 2 years ago
Data shows that Bitcoin investors have turned fearful again as the market sentiment has now dropped to the lowest value since early January. Bitcoin Fear And Greed Index Is Currently Pointing At “Fear” The “fear and greed index̶...
Bitcoin News / Bitcoinist - 2 years ago
Michael Barr, Federal Reserve Vice Chair for Supervision, has acknowledged that crypto technology still holds promise for transforming the financial system, but emphasized the need for “guardrails” to harness its potential. Barr’s...
Bitcoin News / Bitcoinist - 2 years ago
Huobi Token (HT) has emerged at the center of insolvency rumors following a shocking performance on Thursday. Following the plunge in the general crypto market, Huobi Token took it a step further with a massive 90% drop in just a matter of minutes. N...
Bitcoin News / Bitcoinist - 2 years ago
Blockchain.com has announced the suspension of its asset management arm due to the prolonged crypto winter, as reported by Bloomberg. The company cites the challenging market conditions as the reason for its decision, which comes less than a year aft...
Bitcoin News / Bitcoinist - 2 years ago
Crypto regulation could see a major overhaul as House Republicans take steps to revamp the oversight of the emerging class asset. According to Rep. French Hill, who leads the Digital Assets, Financial Technology, and Inclusion Subcommittee, the Hous...
Bitcoin News / Bitcoinist - 2 years ago
On Thursday, March 9, U.S. President Biden revealed his budget proposal for 2024. Under the Biden Budget, the U.S. Treasury Department is looking to introduce a 30% excise tax on crypto mining operations. According to a section in the Treasury depar...
Bitcoin News / Bitcoinist - 2 years ago
While it may have been created only in 2020, Shiba Inu – a decentralized cryptocurrency that operates on the Ethereum blockchain – has already gained a significant following because of its catchy dog-themed branding and low transaction fe...
Bitcoin News / Bitcoinist - 2 years ago
Amidst the turmoil the crypto industry has been involved in over the past month, the global market capitalization has dropped from the psychological level of $1 trillion; Bitcoin has followed the trend. The largest cryptocurrency in the market cap dr...
