Earlier this year, Joshua Browder, CEO of AI startup DoNotPay, attempted to bring a robot lawyer into a California courtroom, despite almost certainly knowing that it was illegal in almost all 50 states to bring automated assistance like this into a courtroom. DoNotPay bills itself as the “world’s first robot lawyer” whose goal is to “level the playing field and…
Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news. Bitcoin Bitcoin (BTC) rose back above $22,000 on Monday, as the U.S. Treasury confirmed it…
The panic caused due to USD Coin’s (USDC) depeg from the U.S. dollar manifested itself in a wrong order, costing traders $50,000 per Bitcoin (BTC), albeit for several minutes. Bitcoin price sees $50K in “fat finger” error The BTC/USDC pair on Binance flash spiked to $50,000 on March 12 around 7 pm UTC. The reason for the impulse spike is unknown…
Circle has revealed that Cross River Bank, a bank recognized for its services to fintech firms like Visa and Coinbase, is now its new commercial banking partner for the production and redemption of USD Coin (USDC) stablecoins. In addition, Circle has established “expanded relationships” with other banking partners to assist with USDC redemption, including Bank of New York Mellon (BNY…
Binance, the world’s largest crypto exchange by trading volume, responded to the latest drama around the USDC stablecoin by converting the remainder of its $1 billion Industry Recovery Initiative funds into Bitcoin (BTC), Ethereum (ETH), and other digital currencies. “Given the changes in stablecoins and banks, Binance will convert the remaining of the 1 billion Industry Recovery Initiative funds from…
Binance, the cryptocurrency exchange, has launched a prepaid cryptocurrency card in Colombia, expanding its reach in Latam. The card, which will allow customers with their identity verified to make payments with crypto, establishes the country as one of the leading markets for the exchange in Latam behind Brazil and Argentina. Binance Announces Crypto Prepaid Card in Partnership With Movii…
Decentralized finance (DeFi) platform Euler Finance has reportedly suffered an exploit of approximately $196.9 million, per audit platform BlockSec. The attacker nabbed $8.7 million in the decentralized stablecoin DAI, $18.5 million in Wrapped Bitcoin (WBTC), a whopping $135.8 million in Staked Ethereum (stETH), and another $33.8 million in Circle’s USD stablecoin USDC. Euler Finance is a borrowing and lending platform…
Privacy-oriented blockchain platform Aztec is preparing to shut down Aztec Connect, the network’s privacy infrastructure serving as the encryption layer for Ethereum. Aztec Network officially announced the upcoming closure of Aztec Connect, planning to disable Aztec Connect deposits from front-ends like zk.money and zkpay.finance on March 17. According to a blog post by Aztec, users will be able to withdraw…
In brief Bitcoin prices are driven by the same principles of supply and demand that govern the cost of goods and services, exchange rates, etc. Price discovery is now determined primarily on centralized crypto exchanges (CEXs). The Bitcoin blockchain went live on January 3rd, 2009. At its inception, the Bitcoin network started releasing its own eponymous currency or money. Every…
Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy. In a move which can rival any classic Bitcoin comeback, BTC/USD is up a full 15% off the two-month lows seen on March 10. The volatility — and at least temporary relief for bulls — is all…
