In a statement made on March 10th, the Bank of England (BoE) announced that SVB UK will “stop making payments or accepting deposits.” Because BoE planned to petition the court to initiate a “Bank Insolvency Procedure” against SVB UK. As Silicon Valley Bank’s U.K. branch (SVB UK) has no “critical
MakerDAO has developed a contingency strategy to shield its native stablecoin DAI from additional exposure to potentially unstable stablecoins. Amidst the volatility that has plagued the crypto market over the last twenty-four hours. Especially with USDC depegging from its $1 value. And mounting fears over the degree to which it
Circle, the company behind the USDC, said in a statement that the stablecoin will once again be exchangeable for dollars at a rate of one-to-one beginning on Monday. As a result of the unexpected closure of SVB on March 11, the company has developed a strategy to draw into its
After considerable buildup, Shiba Inu’s principal developer Shytoshi Kusama finally revealed that the beta test for Shibarium has gone live. A huge, worldwide, and decentralized community, the developer argued, required a decentralized layer 2 network. Introducing the Shibarium Early Public Beta! Find out about it, see the #shibthemetaverse WAGMI Temple
After a promising start, crypto has taken a beating this year, with external factors being at fault once again being the primary cause. As a consequence, bitcoin and other cryptocurrencies have suffered, contributing to yet another shift in public opinion. Several cryptocurrency-related organizations and projects collapsed last year, leading to
On Friday, Brave, a web browser with an emphasis on privacy, announced the launch of a new feature. It enables users to trade their crypto for fiat currencies such as US dollars, Euros, or British pounds without leaving the Brave Wallet. Since major cryptocurrency exchanges misused client funds and finally
Bitcoin (BTC) fell roughly 8% in the last 24 hours before Friday morning’s employment figures. But it has since recovered marginally, rising back to just around $20,000. A steady unemployment rate of 3.4% was predicted, but instead, the rate increased to 3.6%. Recent statistics indicate a frightening $2 trillion loss
The developers of the Hedera Hashgraph distributed ledger have revealed that some tokens from the network’s liquidity pool were stolen. This was due to a smart contract vulnerability on the Hedera Mainnet. The hacker, according to Hedera, went after tokens in DEXs’ liquidity pools. That used code adapted from Ethereum’s
U.S. President Joe Biden unveiled his proposed yearly budget recently. The president laid forth his plans for the next year. The proposal mentioned cryptocurrency mining in the context of the digital asset sector. In particular, Biden has proposed a 30% tax on all power used to mine Bitcoin and other
In conjunction with the Metropolitan Police, the largest police agency in the United Kingdom, Britain’s main financial regulator, the Financial Conduct Authority (FCA), stated on Wednesday that it has taken additional action against unlicensed crypto ATMs in East London. The FCA and the West Yorkshire Police conducted a series of
