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The United States Senate Banking Committee held a hearing March 28 on the regulatory response to recent bank failures. Officials from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve and Treasury testified. FDIC chair Martin Gruenberg spoke about the causes of the failures of Silicon Valley Bank (SVB) and Signature
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“The buying and selling of data is a multibillion-dollar growth industry that shows no signs of slowing down," said Rachid Ajaja, CEO and co-founder of AllianceBlock. "However, until now, decentralized and centralized data providers and users have operated in siloes, unable to interact." Original Source
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On March 27, European cryptocurrency investment firm CoinShares published its “Digital Asset Fund Flows Report,” which revealed that digital assets continue to attract investors' attention as concerns over the stability of traditional finance (TradFi) continues to grow. According to the latest report, investment products in digital assets experienced inflows of $160 million
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Conflicting data creates the question of how the Fed will react to both rising inflation and failing banks - and whether bitcoin will be a lifeboat. Source
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The first day of Paris Blockchain Week (PBW) is bringing more thoughts on the ongoing crisis in the global banking system, with industry executives comparing the collapses of major cryptocurrency firms like FTX with the fall of banks like Silicon Valley Bank (SVB).On March 22, PBW hosted a panel discussion
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After the recent collapse of three banks – Silicon Valley Bank, Silvergate Bank and Signature Bank – many pointed fingers at crypto as the cause. But crypto may actually be the solution, not the problem. Original Source
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The entire banking concept is based on the assumption that depositors will not want to withdraw their money at the same time. But what happens when this assumption fails? The answer lies in the asset-liability mismatch of banks, which can lead to disastrous consequences for the broader financial system. Silicon Valley
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Following finder.com’s reports on bitcoin and ethereum predictions, the product comparison site polled 56 specialists in the fintech and cryptocurrency industry to gauge their thoughts on future regulation of crypto exchanges. The experts predict that virtual currency trading platforms will be regulated, but not until 2025 or 2030. When regulation
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As traditional institutions proactively reduce exposure to cryptocurrencies as a reaction to ecosystem collapses in 2022, Binance CEO Changpeng ‘CZ’ Zhao believes this move could potentially have a negative impact on such traditional financial players.The collapse of major crypto platforms, such as FTX and Terraform Labs, not only reduced trust
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Algorithmic stablecoins use self-regulating mechanisms to keep their private stablecoins pegged to another currency, a system that has had a rocky history. Typically, on-chain collateral consists of cryptocurrencies like BTC or ETH, fiat-backed stablecoins like USDC or USDT and a few nascent traditional financial assets brought on-chain (for example, there
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