The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of Silicon Valley Bank (SVB). Comparing SVB’s situation with other players revealed that nearly 190 banks operating in the United States are at potential risk of a run. While SVB’s collapse came as a reminder of the fragility of the traditional…
The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in Ongoing Regulatory Efforts The Russian…
Microsoft may not be the first name to come to mind when it comes to blockchain. Still, the company has experimented with the technology for many years. According to screenshots shared on Twitter by Albacore, a pseudonymous software researcher from central Europe, Microsoft has added code that would integrate a non-custodial crypto wallet into the company’s default Edge browser. Newest…
The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks and U.S. Banking Crisis The…
Microsoft is reportedly working on integrating a crypto and nonfungible token (NFT) friendly Web3 wallet into its Edge web browser. In a March 17 Twitter thread, software documenter — and occasional info leaker — Albacore shared a series of supposed Edge user interface (UI) screenshots showing the early stages of the firm’s new Web3 wallet. “Newest in the gauntlet of…
The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain hub in the region. Dubai Free Trade Zone Inks Web3…
Think of camaraderie. Of community. Of the invigorating joy that comes from gathering with your neighbors, family, and friends, and sharing with them in song, debauchery, pain, and laughter—plus whatever else comes. These are the essential connections that make us human. And no two concepts better encapsulate that humanity than St. Patrick’s Day and the metaverse. So imagine this reporter’s…
Crypto wireless network Helium’s native HNT token dropped by more than 23% on news Friday that Binance plans to delist it from its exchange. The world’s biggest crypto exchange Binance said in an announcement that effective March 23, users would not be able to trade the token. HNT was trading as low as $1.52 at one point Friday, according to…
The merger between decentralized finance (DeFi) and traditional assets, has been held back by lack of infrastructure and regulatory standards worldwide, sources recently told Cointelegraph. “There simply haven’t been good institutional grade systems for these companies to get involved. Obviously, they’re not going to just run their whole system using a regular blockchain wallet and centralized exchanges,” said Colin Butler,…
The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if necessary. European Central Bank Hikes…
