The United States Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks not to support any crypto services. The FDIC regulators have asked banks interested in acquiring failed U.S. lenders like Silicon Valley Bank (SVB) and Signature Bank to submit bids by March 17, Reuters reported. The authority will
The founder of cryptocurrency exchange Bitzlato has denied guilt in a money laundering case in the United States. Anatoly Legkodymov was arrested in Miami, in mid-January, for his role in running the trading platform which allegedly processed over $700 million in illicit funds. Bitzlato Founder Legkodymov Appears in US Court Anatoly Legkodymov, one of the
The hacker responsible for the $196 million attack on Euler Finance has begun moving funds into crypto mixer Tornado Cash, only hours after a $1 million bounty was launched to uncover the hacker’s identity. Blockchain analytics firm PeckShield tweeted on March 16 that the exploiter behind the flash loan attack on the Ethereum noncustodial lending
The Federal Bureau of Investigation (FBI) says cryptocurrency investment fraud rose 183% from $907 million in 2021 to $2.57 billion in 2022, based on data from its Internet Crime Complaint Center (IC3). The FBI also warned the public of “a spike in cryptocurrency investment schemes.” FBI’s Crypto Crime Statistics The Federal Bureau of Investigation (FBI)
The Reserve Bank of Australia (RBA) and Treasury have been holding private meetings with executives from Coinbase, with discussions revolving around the future of crypto regulation in Australia. Responding to Cointelegraph’s request for comment, an RBA spokesperson confirmed recent reports that these private meetings had occurred, stating that Coinbase met with the RBA’s Payments Policy
The Supreme Court of Appeal (SCA) in South Africa has rejected former Monero lead maintainer Riccardo Spagni’s bid to have it declare his extradition from the United States to South Africa illegal. In its ruling, the Supreme Court of Appeal insisted that Spagni did not sufficiently argue for the voiding of the extradition process. Spagni
The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin (BTC), says Galaxy Digital founder and CEO Michael Novogratz. “We are going to have a credit crunch in the U.S. and globally,” Novogratz said in an interview on CNBC. “You want to be long gold
The United States Federal Reserve has confirmed a July launch date for its long-awaited instant payments system, seen by some as an alternative to central bank digital currencies (CBDCs) and stablecoins. The instant payment network will settle payments in seconds and can support transactions between consumers, merchants and banks. It does not rely on blockchain
Stablecoin issuer Circle has announced it has cleared “substantially all” of the backlog of redemption requests for its stablecoin USD Coin (USDC). In a March 15 operational update, Circle said between the morning of March 13 to the close of business on March 15, it had redeemed $3.8 billion USDC and minted $0.8 billion USDC.
India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India
Market strategist Greg Foss has predicted that Credit Suisse will be the next major bank to collapse, citing capital trouble and a run on the bank. The Swiss banking giant has also identified “material weaknesses” in its financial reporting controls. Its shares plunged on Wednesday after the bank failed to raise capital from its largest
Taxpayers in the United Kingdom will have to report cryptocurrency assets separately in their tax documents for the tax year 2024-25, according to the Exchequer’s recently published spring 2023 budget. New Criminal Offenses Planned by U.K. Government to Combat Tax Avoidance Amid the chaos in the banking sector following the collapse of Silicon Valley Bank’s
United States Securities and Exchange Commission Chair Gary Gensler has again suggested that proof-of-stake coins may be securities. He expressed his view on March 15 after a commission meeting on cybersecurity issues. Gensler was asked by reporters about his reaction to statements made by Commodity Futures Trading Commission Chair Rostin Behnam at a Senate Agricultural
Michael Burry, a hedge fund manager renowned for predicting the 2008 financial crisis, has drawn parallels between the current banking turmoil and the Panic of 1907. He noted that three weeks after J.P. Morgan made a stand, the panic was resolved and the markets bottomed. “A stand was made this past weekend,” the famous investor
Bitcoin briefly surged to a nine-month high late on Tuesday, as prices moved above the $26,000 mark. Although prices have since declined, overall sentiment remains bullish following the latest U.S. inflation report. Consumer prices fell to 6% last month, with ethereum climbing above $1,700 as a result. Bitcoin Bitcoin (BTC) fell from a nine-month high
Massachusetts Senator Elizabeth Warren, one of the more prominent anti-crypto voices in the United States Congress, has called on Jerome Powell to recuse himself amid an internal probe at the Federal Reserve. Speaking to reporters in Washington D.C. on March 15, Warren said Powell had led “the de-regulatory movement” at the Fed potentially touching upon
After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value,
The United States Justice Department announced on March 15 that it was pressing charges against a resident of Hanoi, Vietnam, in connection to the operation of the ChipMixer. The announcement came shortly after it became known that a Europol action led by German law enforcement had closed down the Vietnam-based crypto mixer. The U.S. Attorney’s
On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking
In this episode of Decentralize with Cointelegraph, United States policy reporter Turner Wright and opinion editor Rudy Takala speak to listeners about their experiences at the ETHDenver conference from Feb. 24 to March 5. Wright arrived in time to interview industry experts, check out a “hacker house” and watch developers go through the BUIDLWeek. Takala