El Salvador President Nayib Bukele received an approval rating of 91% from the local population, according to a survey conducted by La Prensa Grafica (LPG) — one of the leading daily newspapers in El Salvador. Despite the media outlet being known for its opposition to the current political regime in the Central American country, the leader…
The cryptocurrency market has seen significant gains recently, with Bitcoin rising over 30%. Alt-coins and the DeFi space have also experienced substantial gains, with Conflux ($CFX), Mask Network ($MASK), Stacks ($STX), MAGIC ($MAGIC), and Fantom ($FTM) leading the way. This week’s top alt-coin gainers are: Conflux ($CFX) +197.% Mask Network ($MASK) +129% Stacks ($STX) +112% Magic…
The stablecoin market has seen significant changes over the past few weeks — including the removal of over 7 billion USDC stablecoins from circulation following the depegging event on March 11. Since then, USDC and other stablecoins have been re-pegged, and Circle’s stablecoin is currently trading at $1 on several centralized trading platforms as of…
Contributor at CryptoSlate Dorian Batycka is a journalist interested in art and technology. He has previously contributed to CoinDesk, Decrypt, Artforum, Artnet News, the Art Newspaper, and many others. He can be found on Twitter and Instagram @temp_projects, where he often memes his way through current financial and art news, scandals, and events.
BlackRock CEO Larry Fink said in his annual letter to investors outlining what he contends are the most urgent and rapidly changing developments in crypto and traditional finance. The 9,000-word document, published March 16, touches on everything from the geopolitical crisis and the war in Ukraine to strategies for long-term growth and digital assets to…
During the week ending March 15, two Federal Reserve backstop facilities were utilized by US banks to borrow a total of $164.8 billion. The traditional liquidity backstop for banks, also known as the discount window, saw a record-high borrowing of $152.85 billion, which increased significantly from the previous week’s $4.58 billion. According to a March…
The recent collapse of the Silicon Valley Bank (SVB) and the USD Coin (USDC) de-peg halted the hype around Non-Fungible Tokens (NFTs) while benefitted the activity on Decentralized Finance (DeFi), as the recent DappRadar report revealed. During the weekend of Mar. 11-12, DeFi’s transaction volume surpassed $58 billion across all platforms — while Mar. 11…
The crypto market is largely unaffected by the European Central Bank’s latest 50 basis point rate hike, with the flagship cryptocurrency Bitcoin only seeing a minor dip following the announcement. Meanwhile, traditional stock markets saw most stocks rebound after opening losses following the rate hike. However, long-term sentiment points to future pains as markets were…
After the weekend’s depegging of the stablecoin, Circle, which issues USDC, has declared that substantially all the minting and redemption backlogs have been resolved. The company reported that they redeemed $3.8 billion USDC and minted $0.8 billion USDC since Monday, and they have also shifted their banking partner due to the Silicon Valley Bank (SVB)…
Out of the top 30 crypto exchanges, 70%, or 21, are located in offshore financial centers, according to CoinGecko’s recent report. The report defines offshore financial centers as “territories that seek to attract financial activities from abroad, through flexible regulations and low or zero-taxation schemes. ” Based on that definition, the most popular offshore financial…