As the 40-year-old banking institution, Silicon Valley Bank (SVB), winds down operation, numerous venture capitalists and investors joined hands and decided to cushion the impact in case the bank “were to be purchased and appropriately capitalized.” Approximately 125 VCs and investors signed a statement supporting SVB as a way to limit the fallout of the […]
Soon after Circle revealed that Silicon Valley Bank did not transfer $3.3 billion of its USD Coin (USDC) reserves, the market responded with a massive sell-off — depegging the stablecoin from the US dollar. However, not all investors were lucky enough to walk away with their funds amid the uncertainty. To cut losses, investors started […]
A crypto startup backed by the American rapper Jayceon Terrell Taylor, better known as “The Game,” had its registration revoked by the United States Securities and Exchange Commission (SEC) for violating securities laws after failing to file periodic reports. ParagonCoin Limited, a crypto firm focusing on the marijuana industry, had its license revoked by the […]
Lawyers of Jimmy Fallon, star of NBC’s long-running comedy and variety series The Tonight Show, have filed a petition to “quash” a subpoena requiring him to testify in the Yuga Labs Inc. v. Ripps et al. case. The lawyers claim that Fallon has no connection to the dispute, is not a party to the Ripps […]
American crypto users haven’t lost their trust in “intermediaries” to hold their crypto, with a January survey from Paxos suggesting a majority of United States crypto hodlers still trust banks, exchanges and mobile payment apps to custody their assets. An annual online survey published on Mar. 7 by the stablecoin issuer conducted between Jan. 5 […]
Algorand-based wallet provider MyAlgo has again urged users to withdraw their funds after a February security breach which doesn’t appear to have been resolved. Update: Funds are still being actively drained from MyAlgo users. https://t.co/fzkS9PFkAm pic.twitter.com/cgrWigu2Wn — ZachXBT (@zachxbt) March 6, 2023 Meanwhile, decentralized exchange Algodex has revealed a malicious actor infiltrated a company wallet […]
Pakistan Banks’ Association (PBA) — a group of 31 traditional banks operating in Pakistan — signed off on the development of a blockchain-based platform for Know Your Customer (KYC) initiatives. On March 2, PBA signed the project contract for developing Pakistan’s first blockchain-based national eKYC (electronic Know Your Customer) banking platform, reported Daily Times. The […]
The design choices, such as the level of privacy — i.e., anonymous or fully traceable transactions — implemented in the creation of a CBDC can have significant implications for monetary policy. Continuing the privacy design choice example, let’s understand its impact on monetary policy in the following two scenarios. Scenario 1: Anonymous and untraceable transactions […]
Krapopolis, the NFT-affiliated cartoon series from Rick and Morty co-creator Dan Harmon has been renewed for a third season by Fox, despite season one not even airing yet. The Krapopolis team announced the renewal via Twitter in March. 2, and emphasized that NFT holders can still engage with the show before it airs. HOLY KRAP! […]
The Bitcoin price is down today as cryptocurrency markets react to fresh FTX fallout and BTC bulls fail to defend already weak support. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Bitcoin (BTC) fell 5% in a single hour overnight into March 3, dropping to its lowest levels in over two weeks, data from Cointelegraph Markets […]
