United States officials want to remove a provision included in bankrupt lender Voyager Digital’s plan to sell its digital assets to crypto exchange Binance.US that would prevent them from legally pursuing anyone involved with the sale. In a motion filed on March 14 in a New York Bankruptcy Court, U.S. Trustee William Harrington and other government attorneys argued: “the court…
Ethereum-based noncustodial lending protocol Euler finance is trying to cut a deal with the exploiter that stole millions from its protocol, demanding the hacker returns 90% of the funds they stole within 24 hours or face legal consequences. The platform was exploited for $196 million on March 13 and Euler Labs sent its ultimatum to the flash loan attacker by…
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. $213 Billion Annually Research and market intelligence firm Juniper Research published a report on central bank digital currencies (CBDCs) Monday. The firm wrote:…
Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its decision. In a March 14 statement labeled the layoffs as “a strategic realignment to better focus our resources,” and pointed to “broad macroeconomic challenges, and crypto market volatility” as…
GPT-4, the latest version of the Artificial Intelligence (AI) chatbot, ChatGPT, can pass high school tests and law school exams with scores ranking in the 90th percentile and has new processing capabilities that were not possible with the prior version. The figures from GPT-4’s test scores were shared on March 14 by its creator OpenAI revealing it can also convert…
The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve. “Bitcoin is a strange animal,” he said, asserting that the price of the cryptocurrency is “being manipulated up.” Jim Cramer’s Recommendations The host of CNBC’s Mad Money show, Jim…
The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people familiar with the matter, investigators with the Justice Department were examining whether Signature took adequate measures to detect potential money laundering by its clients. It was noted the regulator was particularly concerned as…
The United States Justice Department and the Securities Exchange Commission (SEC) have reportedly launched inquiries into the sudden collapse of Silicon Valley Bank (SVB) — which was shuttered by regulators last week amid a historic bank run. According to “people familiar with the matter,” — cited in a March 14 report from The Wall Street Journal — the probes will…
Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB). Speaking with Bloomberg Markets on March 14, Allaire said that he believed that “if not everything, very close to everything was able to clear” from the…
Social media platform Reddit is back online after it identified and implemented a fix for a “major outage” that made browsing impossible for desktop and mobile users for almost six hours. The platform first noted it was offline at 7:18 pm UTC, according to Reddit Status, and said it was working to identify the issue. Screenshot of the r/Cryptocurrency subreddit…
