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Famed economist David Rosenberg has warned of a “crash landing” and an impending recession for the U.S. economy. Referring to the Philadelphia Fed’s manufacturing index chart, he stressed: “Take a good hard look at this chart and tell me we are heading into a ‘soft’ or ‘no’ landing. More like
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Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its decision.In a March 14 statement labeled the layoffs as “a strategic realignment to better focus our resources,” and pointed
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This comes as Silvergate Bank (SI), once the go-to bank for crypto, faces significant financial headwinds and regulatory scrutiny. Over the past month, the majority of Silvergate’s clients have parted ways with the beleaguered bank and stopped using its ACH services, including Coinbase, Circle, Paxos, and Crypto.com among others. Original Source
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Dubai-based crypto exchange Bybit has suspended United States dollar (USD) deposits via bank transfers in response to "service outages from a partner". Funds can be withdrawn through wire transfers until March 10. In a blog post from March 4, the crypto firm said that "USD deposits via Wire Transfer (SWIFT) and
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‘Italian FTX’ Leaves Users in Limbo, Citing ‘Difficulties in Liquidity Management’ Original Source
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LocalBitcoins, based in Helsinki, is one of the longest-running exchanges. It started 10 years ago and has averaged between $5 million and $7 million in weekly trading volume over the past four months, a far cry from 2017, when it surged to above $100 million in consecutive weeks, according to
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“S&C’s disclosures as filed are wholly insufficient to evaluate whether S&C satisfies the Bankruptcy Code’s conflict-free and disinterestedness standards,” said Trustee Andrew Vara, a Department of Justice official responsible for bankruptcy cases. “The incomplete disclosures are a sufficient and independent reason to deny the application.” Source
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According to a Jan. 11 announcement, cryptocurrency exchange Huobi said that it would delist 33 tokens consisting of tickers ABT, ATP, APN, AST,DIE, DHT, DFA, EDEN, GEAR, HC, INDI, IOI, INV, IRIS, GCOIN, GOF, KMA, MTA, NAS, OPUL, PEARL, PRIMATE, QASH, SMT, SLC, SKU, SOC, STC, TALK, VALUE, WHALE, WILD
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On Jan. 10, 2023, the World Bank published its Global Economic Prospects report, stating that the outlook for the global economy and future economic conditions is bleak. According to the report, 2023 growth forecasts have been cut across the board, with the global economy projected to grow by 1.7% in
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Australian crypto exchange Swyftx is set to shutter its crypto-interest product this week, citing a “constantly changing regulatory landscape” for crypto products in the country. From Jan. 10, the crypto exchange will cease to operate the “Earn” program, with users having their entire Earn balances returned to their trade wallets.Swyftx said while
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