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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

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Biggest Movers: LINK Climbs Above $7.00, as DOGE Rebounds From Recent Decline

March 17, 2023 0

Dogecoin rebounded from a recent decline on Friday, as cryptocurrency markets shook off yesterday’s bear wave. The meme coin has now risen by over 5%, a day after falling by the same sum. Chainlink was another notable mover, as prices climbed by over 7%. Dogecoin (DOGE) Dogecoin (DOGE) rose by as much as 5% in […]

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US Bank Outflows and Concerns Mount: 11 Banks Bail Out First Republic Bank From Collapse

March 17, 2023 0

After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen lenders announced they will deposit $30 billion into the beleaguered bank’s coffers to shore up liquidity. U.S. […]

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Bitcoin, Ethereum Technical Analysis: BTC Hits $27,000, Securing Fresh 9-Month High

March 17, 2023 0

Bitcoin moved to a fresh nine-month high on Friday, as prices moved above the $27,000 level. The surge comes following the U.S. Federal Reserve’s decision to backstop embattled banks to a record tune of $152.9 billion. Ethereum was also in the green in today’s session. Bitcoin Bitcoin (BTC) rose back above $27,000 in today’s session, […]

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Africa-Focused Venture Capital Firm Echovc Launches Blockchain Fund

March 17, 2023 0

The Africa-focused venture capital (VC) firm, Echovc, has launched a fund that seeks to support blockchain startups on the continent. While global blockchain funding has been on a decline over the past year, Echovc founder Eghosa Omoigui claimed that investing now enables the VC to get in “at lower entry valuations on average than in […]

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International Operation Takes Down Crypto Mixer Chipmixer — Creator Could Face 40 Years in Prison

March 17, 2023 0

An international operation has taken down Chipmixer, a cryptocurrency mixing service that allegedly laundered more than $3 billion worth of cryptocurrency, according to the U.S. Department of Justice (DOJ). The operation involved national authorities in the U.S., Germany, Belgium, Poland, and Switzerland — with Europol’s support. International Operation Takes Down

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Moscow City Crypto Exchanges Ready to Send Cash to London, Report

March 17, 2023 0

An investigation into digital asset exchanges in the Russian capital has established that some of them are ready to buy digital coins and deliver paper money in the U.K. The transfer of funds does not usually involve the identification of the clients, Transparency International Russia reveals in a report. Russia-based Cryptocurrency Exchanges Swap Stablecoins for […]

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Arbitrum Launches Native Governance Token ARB and Self-Executing DAO Governance Model

March 17, 2023 0

The Ethereum layer two (L2) scaling solution Arbitrum has launched a native governance token named ARB and a self-executing decentralized autonomous organization (DAO) governance model. The ARB token will have an initial supply of 10 billion, and coins will be airdropped to the Arbitrum DAO treasury, Offchain Labs (the company behind Arbitrum), Offchain Labs investors,

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Argentina Registers 6.6% CPI in February; Inflation Numbers Blast Past 100% YoY for First Time Since the 90s

March 17, 2023 0

The National Institute of Statistics and Census of Argentina released February’s numbers for the consumer price index (CPI), registering an increase of 6.6%, a consequence of the rises in prices of food and beverages principally. The number is among the highest in the history of Argentina, reaching more than 100% growth year-on-year (YoY), something that […]

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US Senator: Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards

March 17, 2023 0

U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth