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Court Dismisses Former Monero Developer’s Bid to Have His Extradition to South Africa Declared Illegal

March 16, 2023 0

The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for

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India, UAE Collaborate to Boost Cross-Border Central Bank Digital Currency Transactions

March 16, 2023 0

India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India […]

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Strategist Warns Credit Suisse Next to Collapse — Says ‘There’s a Run on the Bank’

March 16, 2023 0

Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest […]

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Michael Burry Compares Current Banking Turmoil to Panic of 1907 — Highlights Markets Bottoming

March 15, 2023 0

Michael Burry, a hedge fund manager renowned for predicting the 2008 financial crisis, has drawn parallels between the current banking turmoil and the Panic of 1907. He noted that three weeks after J.P. Morgan made a stand, the panic was resolved and the markets bottomed. “A stand was made this past weekend,” the famous investor […]

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UK Treasury Budget Discusses Separate Reporting of Crypto Assets in Tax Documents

March 15, 2023 0

Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s […]

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Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa

March 15, 2023 0

After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value, […]

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British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams

March 15, 2023 0

On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking

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Openai’s GPT-4 Launch Sparks Surge in AI-Centric Crypto Assets

March 15, 2023 0

Following Openai’s release of GPT-4, a deep learning and artificial intelligence product, crypto assets focused on AI have spiked in value. The AGIX token of the Singularitynet project has risen 25.63% in the last 24 hours. Over the last seven days, four out of the top five AI-centric digital currencies have seen double-digit gains against […]

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Biggest Movers: ATOM, SOL Remain Close to Multi-Week Highs, as Markets Consolidate Recent Gains

March 15, 2023 0

Cosmos climbed by as much as 5% in Wednesday’s session, as the token remained close to a multi-week high. Cryptocurrency markets consolidated recent gains in today’s session, with the global market cap down by 0.24% as of writing. Solana continued to trade above $20.00, as prices consolidated. Cosmos (ATOM) Cosmos (ATOM) was once again in […]

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Report: Shanghai Bank Mulls Buying Silicon Valley Bank’s Stake in Chinese Subsidiary

March 15, 2023 0

According to reports, Shanghai Pudong Development Bank may acquire the China-based subsidiary of Silicon Valley Bank (SVB). Authorities in the Chinese city of Shanghai reportedly back the acquisition, which may help minimize the impact of SVB’s shutdown. In its statement following SVB’s demise, SPD Silicon Valley Bank reportedly said its operations remained stable.