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USDT balances on Curve’s popular 3pool, a stablecoin swapping pool made up of USDT, USDC, and DAI, rose to over 72% early on Thursday – suggesting traders had exchanged tens of millions of USDT in favor of stablecoins USD coin (USDC) and dai (DAI). Source
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Cryptocurrency-related enforcement actions undertaken by the United States securities regulator significantly increased in the six months following the bankruptcy of cryptocurrency exchange FTX.An analysis of press releases from the Securities and Exchange Commission (SEC) and news reports on its actions found that in the six months preceding FTX’s collapse —
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In May 2022, the crypto community was shattered by the crash of the Terra ecosystem. One year after, we are reconstructing the events, from luna’s depeg to Terraform CEO Do Kwon becoming a criminal. Terra and its sibling token LUNA have charted a rollercoaster journey across the crypto universe one year
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However, nobody at BlockFi bothered to follow through with this, including the restructuring team, and no bond was posted, the creditors said. “It’s a good thing the federal government stepped in to bail out all SVB depositors, including BlockFi,” they wrote. Original Source
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The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry.In a report released on May 11, the GAO said “poor governance and unsatisfactory risk-management practices” led to
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FSMA had “informed the public prosecutor of irregularities noted in regard to the former management” while assessing the company’s application under money-laundering rules, the statement said, adding that the company had been “forced to modify all its governance structures” as a result of the regulator’s findings. Source
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The recent takeover of First Republic Bank, the fourth U.S. bank to fail this year, has awakened concerns about the possible repercussions this new failure might have on U.S. and international economies. While United States President Joe Biden has assured the public that the banking system remains safe, analysts are
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Amid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on the national debt.” Biden Expresses Confidence in
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Bridgewater Associates founder Ray Dalio has warned that the U.S. and China are “on the brink of war” and “are beyond the ability to talk.” The billionaire added that their relations “are getting so bad” that U.S.-China trade could collapse. He cautioned that the next 18 months “will be a
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The fall of Signature Bank (SBNY) has been linked to a combination of executive mismanagement and insufficient intervention by federal regulators, exacerbating the bank’s exposure to risks in the crypto industry and the ripple effects from
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