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Wall Street Legend Explains How Bitcoin Could Collapse
Burton Malkiel, Princeton University economist professor, has warned Bitcoin investors about how the cryptocurrency could collapse.
Bitcoin Convert Jim Cramer says Wall Street Ignoring COVID-19 Cases, Biden Election Fraud Dispute and Collapse in Stimulus Talks
Bitcoin convert and CNBC analyst Jim Cramer thinks Wall Street is ignoring market risks from rising US COVID-19 cases, the 2020 election dispute, and collapse in stimulus talks.
SVC Bank Caught in SVB Collapse Confusion
India's SVC Bank faced panic due to a mixup with collapsing Silicon Valley Bank, as their acronyms' similarity caused confusion among Indian citizens.
FTX Founder Allegedly Sought Federal Regulation Before Collapse
FTX founder Sam Bankman-Fried allegedly sought federal regulation for the crypto exchange before its collapse and his resignation as CEO. A leaked email exchange with a top regulator showed Bankman-Fried's intent to meet with the Federal Deposit Insurance Corporation chairman in June 2022.
Terra's Partnership with Washington Nationals Raises Eyebrows
Terra, the cryptocurrency ecosystem that collapsed in May 2022, made a prominent appearance at Nationals Park during the Washington Nationals' home opener on March 30. Despite Terra's collapse, a partnership between the company and the baseball team had been in effect since February 2022, with the Terra community committing $38.2 million over five years to secure the deal. Terra's founder, Do Kwon, is currently in police custody in Montenegro and is reportedly facing harsh conditions in the penal system.
Investors Rally to Support Silicon Valley Bank Amidst Possible Closure
Over 125 venture capitalists and investors, including Sequoia Capital and General Catalyst, have pledged their support for Silicon Valley Bank (SVB) as the 40-year-old banking institution winds down its operations. The investors signed a statement in an effort to cushion the impact of the bank's possible closure and limit the fallout on tech companies that rely on SVB for funding and banking services.
US Banking Crisis Fuels Regulation Debate
The recent fall of major banks in the US has reignited discussions about the most effective ways to safeguard the economy. Economist Peter Schiff argues that increasing banking regulations could contribute to a worsening economic crisis, while a group of economists warns that nearly 190 US banks are at risk of depositor-driven collapse due to monetary policies.
US DOJ and SEC launch inquiries into Silicon Valley Bank collapse
The DoJ and SEC have started investigations into the sudden collapse of Silicon Valley Bank and the stock sales made by its financial officers leading up to its closure. The probes are in their early stages and may not result in charges or allegations of wrongdoing.
SBF Denies Insolvency Rumours of FTX, FTT Token Slumps Over 6% during Intraday
FTX CEO Sam Bankman-Fried retreated his crypto exchange and assets are fine, trying to boost confidence to his investors, as speculation mounted over the weekend about the solvency of the exchange.
SEC Agrees to Delay Terraform Labs Trial, Awaiting Do Kwon's Extradition
The SEC has postponed the trial of Terraform Labs and Do Kwon, pending Kwon's extradition to the US, for a $40 billion cryptocurrency fraud.
NFT Trading Volumes Plunge After Silicon Valley Bank Collapse
NFT trading volumes dropped from $74 million to $36 million after the collapse of Silicon Valley Bank. Daily NFT sales count also fell by 27.9% between March 9 and March 11, and active NFT traders hit a low of 11,440 on March 11, the lowest recorded since November 2021.
South Korean prosecutors trace millions in illicit funds tied to Terra co-founder
South Korean prosecutors have identified $314.2 million in illicit assets linked to Do Kwon and Terraform Labs. Kwon reportedly converted most of the funds into Bitcoin using overseas exchanges, making it difficult for the authorities to recover the assets. Terra experienced a $40 billion collapse in May 2022 due to fraud, with Kwon at the epicenter. Kwon was recently caught by authorities in Montenegro after evading arrest for nearly a year.
Yellen Works with Regulators to Address Silicon Valley Bank Collapse
United States Treasury Secretary Janet Yellen is working with regulators to address the collapse of Silicon Valley Bank (SVB), one of the top 20 largest banks in the US. Yellen has stated that they are focused on protecting depositors, particularly small businesses that employ people across the country, and that they are considering a range of available options, including acquisitions from foreign banks.
Signature Bank Collapse Blamed on Poor Management
The FDIC's assessment of Signature Bank identified poor management and inadequate risk management practices as the reason for its collapse. The bank was shut down by regulators on March 12, and the FDIC was appointed to handle the insurance process.
Federal Reserve Admits Blindsided Oversight of SVB Collapse
The Federal Reserve Chairman has admitted to being blindsided by the sudden collapse of Silicon Valley Bank (SVB) despite being under their supervision. The collapse of SVB has prompted an internal investigation led by the Vice Chairman to look into the failure of the bank and the Fed’s regulation of it. The bank’s collapse has been linked to the Federal Reserve’s successive interest rate hikes and erosion of its long-term bonds. This has led to depositors requesting withdrawals en masse, causing a bank run, and the Federal Deposit Insurance Commission taking possession of SVB.
Public Worry Grows Over Bank Stability
A recent Gallup poll conducted in the US revealed that 48% of respondents are concerned about their money in the bank, with almost 20% "very concerned." Experts at a think tank postulate that if half of uninsured savers withdrew all of their cash, 186 American banks would be at risk of impairment. Additionally, research suggests that half of the banks in America could be insolvent.
European Asset Manager Believes Bitcoin is Not Doomed Despite Industry Collapse
A European asset manager, Amundi, believes that the ongoing cryptocurrency industry collapse does not mean that digital assets like Bitcoin are doomed to fail. Despite BTC's inability to protect investors from rising inflation, its limited supply may still attract attention if inflation remains high.
Binance US Joins Exchanges to Delist XRP Token as Price Downfall Dubbed "Third Largest Collapse of All Time"
Binance US has joined the growing list of cryptocurrency exchanges to announce that they will be delisting XRP.
Bitcoin Price Surges Amid Stock Market Bull—But This Could All Collapse if China Repeats its 2015 Stock Market Bubble
Bitcoin price saw a slight surge at the start of this week, while China’s stocks soared as no new local coronavirus cases were reported. US stocks also followed and saw an upward tick as investors focused on news related to the new COVID-19 vaccine and treatments.
Peter Schiff Sends Stern Warning to Barry Silbert Over Grayscale Bitcoin Trust Price Collapse
Grayscale investments’ national ad campaign has fallen on deaf ears, with shares in Grayscale’s Ethereum Trust plummets 80%. Peter Schiff sends a warning to Grayscale investments CEO Barry Silbert.
Bitcoin Price and the Global Financial Crisis: Everybody's Looking at the Wrong Markets
While everybody obsesses over stock markets, bailouts, and inflation, the biggest global financial risks come from the collapse of debt markets. What does this mean for bitcoin?
Reasons Why the Bitcoin Price will Plunge Soon
Why the Bitcoin price could plunge soon? Reasons include technical analysis, DeFi hype collapse, US Dollar index and gold price correlation, and economic conditions
Polish Crypto Exchange BitMarket Co-Owner Found Dead
According to the local news, Niemiro was found dead in the city of Olsztyn near his residence, it was suggested that Niemiro had committed suicide.
Will SushiSwap's Sushi Token Suffer a Second Price Drop Below $1?
The SUSHI token may suffer a second drop, which could plummet below $1. Here's why.
Bitcoin Price Plummets After Bitmex Starts BTC Double Spend Rumor, Grayscale Buys the Dip
BitMex Research incorrectly identified a double spend of around $21 in Bitcoin. The BTC price fell to a low of $28,953.37 and Grayscale Investment bought up $1.2 billion worth.
The Sale of Perth Glory FC Seems Dead in the Water Based on the Crypto Firm’s Dark Past
The proposed sale of Perth Glory FC, an Australian soccer club, has been thrown into disarray following allegations that the potential buyers have an ongoing fraudulent misrepresentation case in the UK High Court. The claims point out that London Football Exchange (LFE), a London-based cryptocurrency company, and its owner Jim Aylward were facing a $2.2 million USD lawsuit brought forth by a Turkmenistan oil trader.
The Fate of Cryptocurrencies in a Fast-Changing Financial Ecosystem
Cryptocurrency being a digital currency, created and managed through the use of advanced encryption techniques known as cryptography has been gradually modifying the world of finance as well as other sectors such as e-commerce and since its creation in 2009.