Ad Failing crypto bank Silvergate is exploring ways to make a recovery with U.S. regulators, according to a report from Bloomberg on March 7. Officials have visited Silvergate HQ Bloomberg reported that Federal Deposit Insurance Corp (FDIC) officials visited Silvergate’s California headquarters last week with authorization from the Federal Reserve. Silvergate has not yet decided…
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Ad The biggest news in the cryptoverse for March 7 saw Algorand face criticism over its insufficient response to a third-party wallet breach. Meanwhile, Grayscale defended its rejected Bitcoin ETF conversion in court. Federal Reserve chair Jerome Powell commented on permissionless ledgers. Plus, research on USDT. CryptoSlate Top Stories Algorand blasted over inaction on ongoing…
Ad Twitter owner Elon Musk said during a conference on March 7 that his social media company aims to become a leading payment service. Musk wants Twitter to be a payment tool In an interview with Morgan Stanley executive Michael Grimes, Musk said: “I think it’s possible to become the biggest financial institution in the…
Ad A new article published in Lexology navigates the evolving landscape of crypto staking and custody. The article, published by the law firm Wilson Elser, looks at current rules and regulations relating to the oversight and enforcement of crypto firms engaged in activities like staking and stablecoins. With Ethereum’s transition to proof-of-stake, the Securities and…
Ad The U.S. state of Missouri passed the “Digital Asset Mining Protection Act” on March 7 to protect the rights of crypto miners. The bill won’t allow state and political subdivisions to halt crypto mining nodes’ work. The bill summary stated: “The “Digital Asset Mining Protection Act” “precludes the state and political subdivisions from prohibiting…
Ad The cryptocurrency market is known for its volatility and unpredictability, and one aspect of this is the emergence of “shitcoins” – digital tokens with little to no real-world value. Recently, there has been buzz surrounding Ethereum co-founder Vitalik Buterin’s decision to sell some of these tokens, sparking speculation and discussion within the crypto community….
Ad As the crypto asset market has expanded dramatically in recent years, stablecoins have also experienced remarkable growth. In response to this, the Digital Euro Association (DEA) issued a report analyzing the use cases of European-Union-denominated stablecoins, looking at trends like machine-to-machine (M2M) payments and other aspects of decentralized finance impacting the broader sector of…
Ad Binance, one of the world’s largest crypto exchanges, updated its proof-of-reserves (PoR) system to include 11 new tokens. These include Mask Network (MASK), Dogecoin (DOGE), Curve DAO Token (CRV), 1inch (1iNCH), and more. According to the March 7 update, Binance’s PoR system now reflects the reserves held for the added new tokens in addition…
Ad Following the FTX disaster in November, the stablecoin market has significantly changed, losing $12 billion in value. More recently, the issue was compounded by troubles at BUSD as the New York Department of Financial Services (NYFDS) ordered Paxos to cease token issuance. Source: Glassnode.com Glassnode data analyzed by CryptoSlate showed Tether has emerged as…