Amid the ongoing United States banking crisis, a wide number of major cryptocurrency firms have denied exposure to dissolved U.S. banks like Silicon Valley Bank (SVB). As potential implications of the SVB crisis for the crypto market continue to unfold, Cointelegraph highlighted several major crypto firms that have declared to be unaffected by the issues so far. Tether Tether, the…
Amid the multiple ongoing investigations, FTX continues to move funds. The addresses, related to the failed crypto exchange, reportedly transferred around $145 million in stablecoins to a range of operating platforms. As Lookonchain spotted on March 14, three wallets, associated with both FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC. The Tether reserves…
The government of Spain has approved the resources for a new issuance of gold bullion coins, which will be directed to satisfy a higher estimated demand for these instruments. The Spanish National Coin Factory will purchase 40 million euros in high-quality gold pieces for this batch, a significantly higher amount of gold compared to the two series issued before. Spanish…
The Egyptian police are reported to have recently arrested 29 individuals associated with the Hoggpool cryptocurrency mining app scam. In addition to seizing 95 mobile phones and 3,367 SIM cards, the police said domestic and foreign currency valued at $194,000 was recovered during the arrests. According to a lawyer representing over 1,000 victims, as many as 800,000 people may have…
Decentralized finance (DeFi) lending protocol Euler Finance became a victim of a flash loan attack on March 13, resulting in the biggest hack of crypto in 2023 so far. The lending protocol lost nearly $197 million in the attack and impacted more than 11 other DeFi protocols as well. On March 14, Euler came out with an update on the situation…
JOMO stands for the joy of missing out — particularly when a cryptocurrency trader refuses to follow the crowd. This is the opposite of FOMO, or fear of missing out, and it’s the counterbalance to price rallies driven by hype and frenzy. What is JOMO in crypto trading? In crypto trading, JOMO stems from not following the herd, which is often wrong,…
Stargate Foundation has advised its decentralized autonomous organization (DAO) against reissuing Stargate’s native Stargate Finance (STG) token due to concerns raised by FTX liquidators. The liquidators have expressed the belief that such a move would violate the automatic stay and could result in legal repercussions. In March 2022, Alameda Research, the former cryptocurrency trading firm, purchased the entire STG auction for $25…
The overnight collapse of two major traditional banks — Silicon Valley Bank (SVB) and Signature Bank — triggered a series of events that impacted millions of businesses, venture capitalists and bottom-line investors alike. However, US President Joe Biden assured that no American taxpayer would feel the burn as the federal government takes action to protect the affected depositors. On March…
A recent study made by Fiserv, a global payments company, shows that QR and digital wallets have grown significantly as payment options in Argentina. While credit card preference has stagnated, the use of cash for payments has decreased, with only 14% of the polled choosing to use it over other options in the country. Argentina Goes Digital in Payments Arena…
Bitcoin (BTC) eyed key resistance near $25,000 on March 14 as markets awaited key economic data from the United States. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Hopes CPI will bring Bitcoin “consolidation” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD making monthly highs of $24,917 on Bitstamp overnight. The pair remained buoyant after the impact of multiple U.S.…
