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Bitcoin, Ethereum Technical Analysis: ETH Moves Above $1,800 as BTC Nears $28,000

March 18, 2023 0

Ethereum rose above $1,800 for the first time since August, as markets continued to react to the Fed’s decision to inject $300 billion into the economy. This comes following the recent banking crisis, which saw the likes of Silicon Valley Bank collapse. Bitcoin neared $28,000 in today’s

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Africa-Focused Fintech Chipper Cash Weighs Possible Sale of Business

March 18, 2023 0

One of Africa’s fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had insignificant exposure to both SVB and Signature Bank. Chipper Cash ‘Never Sought to Be Acquired’ The […]

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Russian Parliament Votes on Bill Opening Door for Digital Ruble

March 18, 2023 0

Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower […]

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Russian Crypto Industry Queries Government About Proposed Criminal Liability for Miners

March 18, 2023 0

The organization representing Russia’s crypto sector has asked the government in Moscow to clarify a proposal to introduce criminal liability for “gray” miners. The draft legislation seeks to punish those who fail to report their income to the state and share information about their digital assets. Crypto Companies in Russia Want to Take Part in […]

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Indian Central Bank Chief: US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System

March 18, 2023 0

The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks […]

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Dubai Free Trade Zone Partners With South Korean Companies to Expand Web3 and Metaverse Business

March 18, 2023 0

The Dubai Multi Commodities Centre, one of the biggest free trade zones in the world, signed agreements with governments and companies in South Korea to bring more Web3 and metaverse businesses to the emirate. The objective of this move is to consolidate the status of Dubai as an international blockchain hub in the region. Dubai […]

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Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps

March 17, 2023 0

The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking sector in Europe was resilient and that the institution was ready to provide liquidity if […]

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‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

March 17, 2023 0

At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and […]

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Stablecoin Supply Plummets After Depegging Event: $7.4B Dollar-Pegged Tokens Withdrawn From Circulation

March 17, 2023 0

During the past 11 days, over 7 billion USDC stablecoins have been withdrawn from circulation, with most of the redemptions occurring following the depegging event of USDC on March 11, 2023. Furthermore, since March 6, a total of 439.48 million BUSD stablecoins have been redeemed. Stablecoin Depegging Event Triggers Billions in Redemptions The stablecoin landscape […]

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SVB Financial Group Files for Chapter 11 Bankruptcy Protection to ‘Preserve’ Firm’s Value

March 17, 2023 0

On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week. 3 […]