Cryptocurrency Analysis and News Portal
Pressure continues to mount on stablecoins given the current situation that has seen three major crypto-backing banks collapse in the past few days. In the wake of the recent failure of at least, three notable US-based financial institutions, Binance has started converting the remainder of its $1 billion industry recovery funds
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Circle has revealed that Cross River Bank — recognized for its services to fintech and crypto firms like Visa and Coinbase — is now its new commercial banking partner for producing and redeeming USD Coin (USDC).In addition, Circle has “expanded relationships” with other banking partners to assist with USDC redemption,
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The US government appears to be solely focused on strengthening public confidence in its banking system. The United States government has swung into immediate action with the BTFP fund following a series of bank collapses that has caused widespread fears of a potential banking crisis. To this end, the US Federal
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The wider cryptocurrency community continues to debate the ongoing fallout following the closure of three major American banks, with calls for neobank services for the industry on the cards.Silicon Valley Bank (SVB), which has traditionally served startups across a number of innovation sector industries, was shuttered by California’s Department of
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New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority as of Mar. 12.The Federal Reserve explained in a Mar. 12 statement that the decision was made in conjunction with U.S. Federal Deposit Insurance Corporation (FDIC) to protect the U.S. economy and strengthen public
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After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what
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The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security across the open banking system.” Customer Permissioned Data Sharing The
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"During periods of heightened activity, conversions rely on USD transfers from the banks that clear during normal banking hours," Coinbase said in its tweet announcing the conversion pause. "When banks open on Monday, we plan to re-commence conversions." Original Source
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Four United States Republican senators led by Bill Hagerty have written a letter to the heads of federal banking regulatory agencies, questioning the ideological motivation behind recent regulatory moves in regard to cryptocurrency. They compared the regulators’ policies to the Obama administration’s Operation Choke Point.The senators addressed Federal Reserve Board
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The exchange’s current banking partner is only accessible to users based in the European Economic Area (EEA). Source
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