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The ongoing crisis of banks in the United States has many positive implications for Bitcoin (BTC), according to an executive at the hardware wallet firm Trezor.On March 14, Bitcoin broke $26,000, a price level not seen since June 2022, posting the biggest gains this year so far. The multi-month high
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The Department of Justice (DOJ) and the Federal Bureau of Investigation (FBI) are reportedly investigating the collapse of the algorithmic stablecoin terra usd (UST) and the firm Terraform Labs. Unnamed sources say that former staff members from Terraform Labs, the company behind the Terra blockchain project, have been questioned by
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Biden said the administration needs to reduce the risks of a future recurrence and protect American jobs and small businesses. The President of the United States Joe Biden has weighed in on the sudden and recent collapse of Silicon Valley Bank (SVB) and Signature Bank (NASDAQ: SBNY). Many SVB clients pulled
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The mass burn reversed Circle’s early March trend where it had been minting more USDC than it was destroying. Between March 1 and March 9, Circle minted a net average of $143 million USDC a day, but this trend has since changed: Starting on March 10, Circle has burned a
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The United States Justice Department is reportedly investigating the collapse of the TerraClassicUSD (USTC) stablecoin which contributed to a $40 billion wipe out in the Terra ecosystem last May.Two agencies within the department — the Federal Bureau of Investigation (FBI) and Southern District of New York (SDNY) have interrogated former
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Cryptocurrency investment products lost 10% of assets under management last week as institutional investors rushed for the exit during the latest episode of market volatility prompted by the Silvergate and Silicon Valley Bank collapses.Digital asset investment products registered $255 million in outflows for the week ending March 12, marking the
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Shares of First Republic Bank (FRC) have been in the red for the past year, shedding more than 48% in the last twelve months. The shares of American foreign exchange company First Republic Bank (NYSE: FRC) plunged over 60% in pre-market trading due to investors’ worries about its financial strength.
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The President of the United States Joe Biden has vowed to hold those responsible for the failure of Silicon Valley Bank and Signature Bank while assuring Americans that their deposits are safe. On Mar. 12, the New York District of Financial Services (NYDFS) took possession of crypto-friendly Signature Bank. The Federal Reserve
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Ripple CEO Brad Garlinghouse took to Twitter on Mar. 12 to discuss the company’s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple's stability. Ripple had exposure to SVB, Garlinghouse said, but “we expect NO disruption to our day-to-day business, and already held a majority of our USD
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