The largest cryptocurrency market player, Bitcoin (BTC), started to outperform the market as a result of the failure of major banks like Silicon Valley Bank and Credit Suisse, which affected confidence in traditional financial institutions. Also, Bitcoin’s double-digit surge this year has surprised the crypto community. BTC began mid-March with
The U.S. Department Of Justice (DOJ) proclaimed that law enforcement had seized 18 crypto ATMs in Texas and Oklahoma. These ATMs were obtained from the SBA fraudulent loans which got harmed by the COVID-19 pandemic. And they were accustomed to buying bitcoin from the New York-based cryptocurrency exchange. For this
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
In an 86-page report published on March 24. The United States Federal Reserve explained why it had rejected Custodia Bank’s membership application back in January. Among them, the bank’s crypto-related activities also finds a place. The report claims that the Fed’s board has expressed concerns about banks with business strategies
After the continuous collapse in the banking sector, Bitcoin (BTC) had a sudden bullish and reached the trading price of $28,000. BTC has risen about 22% this month and more than 65% since January 1. While the current growth of Bitcoin is impressive, it still marked by extreme volatility is
There seems to be nothing but negative news for the Venezuelan crypto sector. Especially since Superintendent of Cryptoassets Joselit Ramirez was arrested. And President Nicolas Maduro ordered a reorganization of the country’s crypto regulatory body. In a recent development, Venezuela’s National Superintendency of Cryptoassets “Sunacrip”—the country’s crypto regulator—ordered the shutdown
The U.S. Securities and Exchange Commission (SEC) seems stubborn. In order to make it more difficult for cryptocurrency firms to operate in the United States and beyond. It’s no secret that SEC chair Gary Gensler isn’t a fan of the cryptocurrency market. Under his watch, the agency has taken a
Nasdaq, the exchange company, is stepping in to fill the void left by the recent failures of other crypto intermediaries. Earlier in 2022, in September, it was revealed by that Nasdaq Inc. was planning to provide its own cryptocurrency custody services. The most current information indicates that the rollout of
The U.S. Department of Justice is reportedly looking into whether or not top bankers helped Russian billionaires circumvent sanctions against their nation. Credit Suisse Group AG and UBS Group AG are allegedly two of the institutions under scrutiny. According to Bloomberg, the United States government has subpoenaed a number of
El Salvador is obviously focused on technological improvements as the rest of the globe contends with banking and other economic issues. Consequently, President Nayib Bukele intends to do away with all taxation related to technological development. Income, property, and capital gains taxes, as well as tariffs on imported goods on
