Authorities and power utilities in various Russian regions have shut down illegal crypto mining farms, seizing hardware and taking operators to court. The action against the coin minting facilities comes amid discussions on a proposal to introduce criminal liability for miners breaking the upcoming legislation for the industry. ‘Underground’ Crypto Mining Farms Shut Down Across Russia Police and power suppliers…
Month: March 2023
Switzerland preparing emergency measures for UBS' takeover of Credit Suisse: Report
The emergency preparation will allow the takeover to proceed without the usual “six-week consultation period” with shareholders, according to people familiar wi… Source: https://cointelegraph.com/public/index.php/news/switzerland-preparing-emergency-measures-for-ubs-takeover-of-credit-suisse-report
Peter Schiff blames ‘too much gov’t regulation’ for worsening financial crisis
The recent fall of major banks in the United States and the need for federal intervention reignited discussions to identify the most effective ways to safeguard the crumbling economies. Comparing the episode to the financial crisis of 2008, prominent economist Peter Schiff found that increasing banking regulations contribute to the worsening financial crisis. A deeper analysis of Silicon Valley Bank…
Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil – Regulation Bitcoin News
A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social value. Belgium’s Ex-Finance Minister Suggests Ban on Decentralized Digital Currencies Member of the European Parliament, Johan Van Overtveldt, has insisted that…
SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report
Silicon Valley Bank UK (SVB UK) has granted millions of pounds in employee bonuses, just days after it was rescued by global banking giant HSBC for just 1 pound, according to unnamed sources. In a March 18 Sky News report citing unnamed sources, it was reported that payouts to SVB UK staff and senior executives were signed off “earlier this…
Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen – Bitcoin News
General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able to liquidate 56.28 bitcoins, worth…
Major Cryptocurrency ATM Manufacturer General Bytes Hacked, Over $1.5M in Bitcoin Stolen – Bitcoin News
General Bytes experienced a security incident on March 17 and 18 that enabled a hacker to remotely access the master service interface and send funds from hot wallets, according to the company and sources. The breach forced a majority of U.S.-based crypto automated teller machine (ATM) operators to temporarily shut down. The hacker was able to liquidate 56.28 bitcoins, worth…
Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’ – Economics Bitcoin News
Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.” Novogratz on Global Credit Crunch and Recession Galaxy Digital CEO Mike Novogratz shared his outlook for the U.S. economy in an interview with…
US midsize banks seek FDIC Insurance on 'all deposits' for 2 years: Report
The banking coalition reportedly argued that it would bring stability to the banking industry and reduce the chances of “more bank failures,” in a letter to fed… Source: https://cointelegraph.com/public/index.php/news/us-midsize-banks-seek-fdic-insurance-on-all-deposits-for-2-years-report
Economist Peter Schiff Expects Worse Financial Crisis Than 2008 — Says ‘Future Rate Hikes Are Now Pointless’ – Economics Bitcoin News
Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S. economy in a series of…