USDC Back on Track as Circle Announces Corporate Resources Backing.
Circle has pledged to back its stablecoin with corporate resources if required.The stablecoin is gradually recovering to trade at $0.95 at the time of writing.Circle, the company behind the USDC,…
Silicon Valley Bank UK Closed by Bank of England
The bank liquidators would be responsible for handling the remaining SVB UK assets.Major blockchain VCs had over $6 billion in assets with the bankrupt financial firm.In a statement made on…
MakerDAO Devises Emergency Plan To Safeguard DAI Stablecoin
The value of DAI, a stablecoin tied to the U.S. dollar, fell to an all-time low of $0.88.The stablecoin issuer has recommended similar measures for DeFi protocols.MakerDAO has developed a…
Coinbase Updates Staking Conditions As SEC Clampdown on Industry.
There would be a “transparent Coinbase fee” as per the exchange.The U.S. SEC earlier penalized Kraken for its staking program.A month after U.S. authorities clamped down on similar offerings, Coinbase…
Silicon Valley Bank Shut Down by Regulators Due To Financial Issues
The bank was shut down by authorities and transferred to the supervision of FDIC.On Wednesday, SVB reported that it had sold several instruments at a loss.As a result of a…
Elon Musk Open to the Idea of Acquiring Struggling Silicon Valley Bank
Elon Musk Open to the Idea of Acquiring Struggling Silicon Valley Bank EDITORS NEWSElon Musk stated that he is open to the concept, which is an interesting reaction.Musk has articulated…
Current Crypto Crash Does Not Seem To Be a Coincidence.
New York State’s Attorney General Letitia James classified Ethereum (ETH) as a security.The fall of Silicon Valley Bank has implications for the whole cryptocurrency sector.Bitcoin (BTC) fell roughly 8% in…
Both Binance and Coinbase Temporarily Suspend USDC Conversions
Binance said it will halt USDC conversion to USD over the weekend. Circle said that Silicon Valley Bank still has $3.3 billion underpinning USDC.The two leading cryptocurrency exchanges, Binance and…
CryptoGPT Introduce its Native Token GPT
CryptoGPT’s Native crypto token GPT is live now.CryptoGPT price increased by over 20%.Today, the Ethereum-based zero-knowledge (ZK) layer-2 blockchain CryptoGPT launches its native crypto token ‘GPT.’ By debuting its own…
Stablecoin Firms Adapt to Changing Anti Money Landry Landscape in Crypto.
As the world of cryptocurrency and stablecoins continues to evolve and gain mainstream adoption, the importance of implementing effective anti-money laundering (AML) practices becomes increasingly crucial. By adhering to AML…