The United States equities markets tumbled on March 15 after Saudi National Bank, Swiss Bank Credit Suisse’s largest investor, said it will not be able to provide any more funding to Credit Suisse due to regulatory limitations. Investors are nervous because Credit Suisse, which has large U.S. and global operations, warned on March 14 that
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Following Openai’s release of GPT-4, a deep learning and artificial intelligence product, crypto assets focused on AI have spiked in value. The AGIX token of the Singularitynet project has risen 25.63% in the last 24 hours. Over the last seven days, four out of the top five AI-centric digital currencies have seen double-digit gains against
Bitcoin (BTC) is setting up a classic trading move, which could see it hit $100,000, one analyst says. In a tweet on March 14, Charles Edwards, founder and CEO of investment firm Capriole, called BTC price action in 2023 a “bump & run reversal.” Edwards on BTC price: The “bottom is back” Having passed $26,000
The investment arm of major cryptocurrency exchange KuCoin is moving to support new stablecoin initiatives by backing a Chinese yuan-pegged stablecoin issuer. KuCoin Ventures has led a $10 million investment into stablecoin issuer and blockchain-based payment service provider known as CNHC. Announcing the news on March 16, KuCoin Ventures said that the funding round included
Web3 URLs — enabled with the launch of ERC-4804 — have made it onto Ethereum, allowing internet users to access Ethereum applications and nonfungible tokens (NFTs) without worrying about centralized censorship. The new Ethereum standard, titled “Web3 URL to EVM Call Message Translation,” was first proposed on Feb. 14, 2022, and was co-authored by ETHStorage founder
United States officials want to remove a provision included in bankrupt lender Voyager Digital’s plan to sell its digital assets to crypto exchange Binance.US that would prevent them from legally pursuing anyone involved with the sale. In a motion filed on March 14 in a New York bankruptcy court, U.S. trustee William Harrington and other
U.S. tech giant Meta is giving up on operations with non-fungible tokens (NFTs) amid ongoing turbulence in the crypto space. The company allowed creators to share digital collectibles on its leading social media platforms last year. Meta Platforms Cutting Off Support for Non-Fungible Tokens California-based technology conglomerate Meta is winding down support for digital collectibles
Bitcoin (BTC) spiked above $26,000 on March 14 as United States Consumer Price Index (CPI) data showed mixed inflation signals. CPI fuels 9-month BTC price highs Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as sudden volatility kicked in on the release of February’s CPI numbers. Inflation climbed 6% year-on-year, while the month-on-month figure was
The Shapella hard fork has been executed on the Goerli testnet — the last test run before Ethereum validators will be able to withdraw their Ether (ETH) from the Beacon Chain. There were, however, issues with the hard fork. Ethereum core developer Tim Beiko noted that while deposits were being processed, the process didn’t run
Credit rating agency Moody’s has recently downgraded its outlook on the entire United States banking system from “stable” to “negative.” The move comes in light of the recent failures of Silicon Valley Bank, Silvergate Bank and Signature Bank, which has prompted regulators to intervene with a rescue plan for impacted depositors and institutions. Despite the downgrade,
The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people familiar with the matter, investigators with the Justice Department were examining whether Signature took adequate measures to detect potential money laundering by its clients. It was noted the
After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from “stable” to “negative.” As one of the “Big Three” credit rating firms, Moody’s cited a “rapid deterioration
NatWest, a retail and commercial bank in the United Kingdom, is taking measures to protect customers from potential crypto losses amid Bitcoin (BTC) hitting multi-month highs. On March 14, NatWest introduced major restrictions on payments to cryptocurrency exchanges, imposing daily and monthly caps for such transactions. According to an announcement shared with Cointelegraph, NatWest has
Cryptocurrency exchange Coinbase filed an amicus brief in support of a motion to dismiss the case brought by the United States Securities and Exchange Commission (SEC) against former Coinbase product manager Ishan Wahi and other for insider trading. Coinbase condemns the defendants conduct, it said in the brief, but supports the defendants’ motion because of
The price of Bitcoin (BTC) increased by 28% between March 12 and 14, reaching $26,500, its highest level since June 2022. Some may attribute the gains to the Consumer Price Index’s (CPI) 6% year-over-year increase in February, even though the figure was in line with expectations. The inflation metric reached its lowest level since September
Wash trading on nonfungible token (NFT) marketplaces is back in the spotlight after critics claimed the fast-growing NFT marketplace Blur has incentivized the practice with its trading rewards scheme. 10% of Blur’s total token supply was distributed to users based on their trading activity in its second token reward scheme from Feb. 14. The platform
Several Ripple executives have spoken out about the banking crisis in the United States. The company itself has been affected by the collapse of Silicon Valley Bank (SVB). As Ripple CEO Brad Garlinghouse clarified on Sunday, the company is affected “to some extent.” SVB was a banking partner and held a portion of Ripple’s cash
The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by U.S. law enforcement. Unusual Relationship:
JOMO stands for the joy of missing out — particularly when a cryptocurrency trader refuses to follow the crowd. It’s the opposite of FOMO or fear of missing out, and it’s the counterbalance to price rallies driven by hype and frenzy. What is JOMO in crypto trading? In crypto trading, JOMO stems from not following the herd —
Amid multiple ongoing investigations, FTX continues to move funds. Addresses related to the failed crypto exchange reportedly transferred around $145 million in stablecoins to various platforms. As Lookonchain spotted on March 14, three wallets associated with FTX and its subsidiary, Alameda Research, have moved 69.64 million Tether (USDT) and 75.94 million USD Coin (USDC). The