Friday, March 29, 2024
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European Central Bank CBDC Can End Bank Crises, Better Than Deposits, Says Former Bank of Spain Chief Ordóñez

"Digital euros are euros, but bank deposits are not euros. Deposits are just promises to pay euros, and if banks can't fulfill those promises, then you get crises emerging," he said, adding that a CBDC would have the benefit of stability, justifying the use of the digital euro instead of

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Chia Network cuts staff, citing banking crises and industry skepticism

The San Francisco-headquartered firm fired 26 employees in an effort to go public despite banking challenges. Chia Network Inc., the firm behind the Chia blockchain, has cut 26 “positions” as it still eyes an initial public offering. We’re sharing the difficult news that we eliminated 26 positions across Chia Network today. We

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Economist Peter Schiff Says ‘Nobody’s Money Is Safe in Any Bank’ — Warns of Financial Crises, Depressions – Economics Bitcoin News

Economist Peter Schiff expects a lot more banks to fail, warning that “nobody’s money is safe in any bank.” He stressed: “When the Fed sets interest rates too low and prints a lot of money … it unleashes massive inflation, creates tremendous economic imbalances that result in financial crises and

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Hybrid DEX, INNODEX, emerges amid FTX, Silvergate liquidity crises

Silicon Valley Bank (SVB), representing the United States information technology hub, Silicon Valley, went bankrupt due to a bank run, massive deposit withdrawals, in under 14 hours.  SVB’s bankruptcy is the second-largest in history after Washington Mutual went under during the Global Financial Crisis (GFC) in 2008. Silvergate Capital, one of the

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Realized losses from FTX collapse peaked at $9B, far below earlier crises

Blockchain analytics firm Chainalysis has attempted to put the FTX collapse into perspective — comparing peak weekly-realized losses in the wake of the exchange’s collapse compared to previous major crypto collapses in 2022.The Dec. 14 report found the depegging of Terra USD (UST) in May saw weekly-realized losses peak at $20.5

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Bitcoin Investors Become Wary Of Crypto Exchanges Following The FTX Crises

The sudden collapse of the FTX exchange has sent shock waves throughout the Bitcoin crypto world. The Bankman-Fried-led crypto empire hailed as an industry leader has filed for bankruptcy, creating widespread panic in crypto circles. This collapse was aided by Ian Allison’s article showing that around $5.8 billion from the $14.6

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