Nonfungible token (NFT) memes have brought mainstream attention to the world of NFTs and digital art, helping to expand the market and increase its legitimacy. The high prices paid for some NFT memes have demonstrated the value of online culture and the emotional connection that people can have to internet memes. NFT memes have also created a new way for…
According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that Okcoin’s U.S. dollar wire and ACH deposits have been “immediately paused” due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars. …
Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView BTC price sees “phenomenal” rebound Data from Cointelegraph Markets Pro and TradingView tracked a thoroughly bullish hourly candle for BTC/USD, which reached $23,725 on Bitstamp. The move was eagerly…
The Web3 gaming industry continues to pique the interest of investors. Brazil-based startup Jungle announced today that it has raised $6 million in seed funding in a round co-led by venture capital firms Bitkraft Ventures and Framework Ventures, with plans to develop a Web3 mobile shooter. Delphi Digital, 32bit Ventures, Karatage, Stateless Ventures, and others also participated in the round. The…
On Jan. 25, the Committee on Elections introduced a bill to the Kansas House of Representatives aimed at capping political donations via crypto at $100. Regardless of the success of this legislative initiative, the state of Kanzas won’t be the first jurisdiction to target anonymous donations. From authoritarian nations like Russia or China to electoral democracies like Ireland or Canada,…
Those looking to stablecoin issuer Circle as crypto’s next fire sale may have to look elsewhere. At the time of writing, Circle’s U.S. dollar-pegged stablecoin has almost regained its full value after dropping 13% on Saturday. It currently trades for around $0.99, according to data from market aggregator CoinGecko. Another key indicator that market confidence in Circle may be returning…
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and Treasury Department. Details on the…
According to Web 3.0 analytics platform Watchers (0xscope), a total of 314.167 million USD Coin (USDC) has been sent by its issuer, Circle, to the Ethereum null address with header 0x00 on Mar. 13. The null address is typically used to remove tokens from circulation via one-way transactions. Stablecoin Burn Alerts:314,167,155.05 $USDC ($311,419,134) just burned by #CircleTx: https://t.co/ggqMMIhwS8 — Watchers…
President Joe Biden gave brief comments Monday morning regarding the recent events surrounding the embattled Signature Bank and Silicon Valley Bank (SVB). Following several chaotic days, SVB was shut down on Friday and Signature Bank was shuttered on Sunday, inflicting damage throughout the crypto industry. U.S. Treasury Secretary Janet Yellen also approved a “systemic risk exception” action that would see…
Silicon Valley Bank (SVB) has suffered a major fall from grace following half a decade of being rated as one of the best banks in America. SVB and its parent company SVB Financial Group have been held in high esteem as a financial institution serving a variety of companies across industries, from technology and venture capital firms to private equity…
