The worst-case scenario for cryptocurrency investors is when a rapid shift in the market conditions triggers widespread panic and a run on the market. The combined effect of these two events typically results in price fluctuations that cannot be controlled and significant financial losses for investors. The recent announcement that Circle could not withdraw its … Read more
According to published reports, BlockFi also owns $227 million in the bankrupt Silicon Valley Bank, which was not covered by insurance. As the drama surrounding the closing of Silicon Valley Bank unfolds (1) more, other victims are coming to light. Circle, the company responsible for the widely used USDC stablecoin, was the first to suffer … Read more
Robert Kiyosaki has issued a warning that a third U.S. bank will fail, while Peter Schiff has stated that a “greater collapse” is on the horizon. As a result of the failure of Silicon Valley Bank (SBV) & Silvergate Bank within forty-eight hours, the financial system in the United States has been jolted, and economic … Read more
The legislation known as House Bill 1193 has been rejected by the Governor of South Dakota, Kristi Noem. The measure modifies the definition of money so that cryptos like Bitcoin are no longer considered money and contain support for digital currencies issued by central banks (CBDC). Noem stated his opposition to the bill in a … Read more
The collapse of Silvergate Bank & Silicon Valley Bank just seven days after one another has caused shockwaves to spread throughout the cryptocurrency industry. Regulators and legislators in the United States have been concerned because the turbulence has spread into the conventional finance sector. This is a really unfortunate development. Elizabeth Warren Criticized the … Read more
With the conclusion of the insolvency proceedings, the story of the FTX exchange, and its sister business Alameda Research is continuing. The most recent turn of events involves the sale of Alameda Research’s stake in Sequoia Capital to the sovereign wealth fund of N Abu Dhabi. A recent document filed in court by the US … Read more
Earlier this month, on March 8, Thailand SEC (Securities and Exchange Commission) released a statement that crypto businesses’ staking and lending services will be subject to regulation. Crypto enthusiasts are wondering if the statement means Southeast Asian nations are planning to ban staking and lending services on cryptocurrency exchanges in the region. What If … Read more
Users and fans of cryptocurrencies are well aware of the dangers associated with buying and holding digital assets. Investors risk losing money in various ways, including price collapses, fraud, exchange and system hacks, Ponzi schemes, and more. Several Latino investors lost money in a cryptocurrency Ponzi fraud that just hit the news. Warnings issued by … Read more
The value of Dogecoin (DOGE) on the cryptocurrency market has dropped as widespread panic and anxiety followed the collapse of Silicon Valley Bank on Friday morning, the second-largest commercial bank collapse in U.S. history. Market sell-offs have been spurred by the collapse (1) of crypto-friendly bank Silvergate, with the current valuation of top meme tokens … Read more
Circle, the company that issued the USDC stablecoin, said late Friday that it still has about (1) $3.3 billion in reserves at Silicon Valley Bank out of a total of $40 billion. Once a panicked public rushed to withdraw their money from the high-tech lender, the stock price plummeted. On Friday, 48 hours after one … Read more