A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis. Multiple news outlets reported on March 13 that many Silicon Valley Bank shareholders alleged fraud from the bank, CEO Greg Becker and chief financial officer Daniel Beck. The lawsuit would likely…
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Crypto exchange Gemini had no funds at Signature Bank, and its Gemini US Dollar (GUSD) stablecoin was not backed by any deposits at the failed bank, according to a March 13 official tweet from the company. 1/ It’s very sad to hear the news about Signature Bank. They have been incredible partners to Gemini and…
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The banking crisis in the U.S. has led to aggressive buying in Bitcoin and select altcoins, which are nearing stiff overhead resistance levels. Source link
Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView BTC price sees “phenomenal” rebound Data from Cointelegraph Markets Pro and TradingView tracked a thoroughly bullish hourly candle for BTC/USD, which reached $23,725 on…
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On Jan. 25, the Committee on Elections introduced a bill to the Kansas House of Representatives aimed at capping political donations via crypto at $100. Regardless of the success of this legislative initiative, the state of Kanzas won’t be the first jurisdiction to target anonymous donations. From authoritarian nations like Russia or China to electoral…
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Banks are the lifeblood of a nation’s economic system, and any bank collapse is disturbing. Last week saw two failures. On March 8, Silvergate Capital — the cryptocurrency-focused banking company — entered into voluntary liquidation. On March 10, United States regulators shut down and seized the deposits of tech-oriented Silicon Valley Bank in what was being…
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Silicon Valley Bank (SVB) has suffered a significant fall from grace following half a decade of being rated as one of the best banks in the United States. SVB and its parent company, SVB Financial Group, had been held in high esteem as financial institutions serving companies across a variety of industries, from technology and…
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Earlier this year, Joshua Browder, CEO of AI startup DoNotPay, attempted to bring a robot lawyer into a California courtroom, despite almost certainly knowing that it was illegal in almost all 50 states to bring automated assistance like this into a courtroom. DoNotPay bills itself as the “world’s first robot lawyer” whose goal is to…
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The panic caused due to USD Coin’s (USDC) depeg from the U.S. dollar manifested itself in a wrong order, costing traders $50,000 per Bitcoin (BTC), albeit for several minutes. Bitcoin price sees $50K in “fat finger” error The BTC/USDC pair on Binance flash spiked to $50,000 on March 12 around 7 pm UTC. The reason for…
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Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy. In a move which can rival any classic Bitcoin comeback, BTC/USD is up a full 15% off the two-month lows seen on March 10. The volatility — and at least temporary relief…
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