Latest Report De-dollarization: Do all roads eventually lead to Bitcoin? The U.S. dollar’s reign as the reserve currency of the world could be coming to an end. CryptoSlate’s latest market deport explores the de-dollarization of the world to find what role will Bitcoin play in the global economy. Andjela Radmilac · 2 days ago
Ad The following is a guest post by web3 strategist Toby Fan, and Aly Madhavji, Managing Partner at Blockchain Founders Fund. Social media has forever changed how we view and manage financial crises. Banks need a way to tactfully handle what is now being coined “social media risk.” Viral games of the telephone played at…
Ad FTX has submitted a motion through which it intends to sell its stake in Mysten Labs, according to a bankruptcy court filing on March 22. The value of the sale is estimated to be more than $96 million. About $95 million of that amount consists of shares, though it also includes $1 million of…
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Coinbase has discontinued support for Signet, a service once offered by the failed Signature Bank, according to a report from the Wall Street Journal on March 20. Coinbase partnered with Signature in October 2022. Coinbase used Signet to perform U.S. dollar transactions with exchanges and institutional clients instantly and around the clock. Signature only offered…
UBS Group has agreed to purchase the ailing European bank Credit Suisse for $3.2 billion, according to various reports on March 19. UBS will buy Credit Suisse Swiss President Alain Berset announced the deal in the evening, according to reports from the Associated Press. The government brokered the deal to prevent a financial crisis. The…
SVB Financial Group, the parent company of Silicon Valley Bank, has filed for bankruptcy protection, according to a press release from the company on March 17. SVB files for reorganization The announcement indicates that SVB Financial Group has voluntarily filed for a court-organized reorganization under Chapter 11 of the U.S. Bankruptcy Code. The filing has…
A bankruptcy judge has ruled in a court filing on March 15 that the $1 billion bid by Binance.US to purchase Voyager’s assets should proceed — rejecting the U.S. government’s request to suspend the proceedings while the appeal is pending. Per the court filing, the ruling judge rejected the government’s plea for a delay of…
The U.S. Federal Deposit Insurance Corp (FDIC) has started requesting bids from banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank — but whoever bids on Signature cannot have any ties to the crypto industry, according to Reuters. “Any buyer of Signature must agree to give up all the crypto business at…
FTX management said Sam Bankman-Fried (SBF) and other top executives of the bankrupt firm received $3.2 billion in payments and loans — mainly from its sister company, Alameda Research. According to a March 15 statement, SBF received $2.2 billion from this payout. Other executives like former FTX director Nishad Singh, FTX co-founder Gary Wang, former…