For $500 million, First Citizens Bank has purchased Silicon Valley Bank (SVB). Compared to its $40 billion valuation a year ago, the crypto-friendly Silicon Valley Bank is currently being bought for a whopping 99% discount. As of now, First Citizens BancShares has accepted deposits totaling $119 billion. On Monday, the
March 27, 2023 1 min read
MyAlgo, a supplier of Algorand network wallets, has issued a warning to its customers to withdraw cash from any wallets established with a seed phrase because of an existing exploit that has seen approximately $9.2 million worth of assets stolen. On February 27, MyAlgo tweeted the warning, saying that it
February 28, 2023 1 min read
In order to accommodate the needs of its non-banking members. The Tel Aviv Stock Exchange (TASE) is open to the idea of allowing cryptocurrency trading. Its suggestion is a direct outcome of last year’s industry crisis. Which, according to many watchdogs, was necessary in order to implement stronger restrictions. The
February 28, 2023 2 mins read
The Rock Trading (TRT), a prominent crypto exchange in Italy, emailed its customers on February 17 to inform them that it was experiencing liquidity concerns and would be “interrupting” its operations. The email read: “The company is conducting internal audits to identify the causes of the problem and evaluating the
February 27, 2023 1 min read
The collapse of FTX last autumn was a bad omen for the crypto sector, damaging the young industry’s credibility and trustworthiness. And this is a huge pushback, says Emin Gün Sirer, CEO and founder of Ava Labs. Sirer stated: “The damage that Sam did is immeasurable. All of that goodwill
February 27, 2023 2 mins read
Circle, a digital currency company, has revealed that Citizens Trust Bank, an Atlanta institution established in 1947, would store $65 million in USD coin (USDC) reserves. This decision follows a string of previous ones. In which Circle announced allocating money to several banks in the United States. To provide just
February 25, 2023 1 min read
At press time, USTC was trading at $0.0284 and had risen 7.45% in the last 24 hours as per CMC. Meanwhile, LUNC has slowed its intraday gains. And was trading slightly higher in the past 24 hours at $0.0001653, up 2.45%. After dropping for three days in a row, LUNC
February 25, 2023 1 min read
South Korean blockchain research and data analysis service Messari has joined the ranks of crypto-focused businesses that have laid off employees in response to the current economic downturn. They let 15% of their employees go because they knew it was the best move for the company in the long term.
February 24, 2023 1 min read
As per the crypto whale alert, 97,858,390 #BUSD (97,868,345 USD) have been burned at Paxos Treasury following the recent crackdown of authorities. Previously, in the second week of this month, Paxos, the issuer of the $16 billion Binance USD (BUSD) stablecoin, burned more than $700 million of BUSD tokens. That
February 24, 2023 1 min read
With the new “token-enabled playlists” function, users with NFTs wallets may listen to customized playlists on Spotify. Everyone who has a Fluf, Moonbirds, Kingship, or Overlord community token may use this service. Throughout the course of the three-month beta, the selected playlists will undergo frequent updates and be available to
February 23, 2023 1 min read