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Follow Dat Money | Crypto Projections
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It's Friddaaaayyyy Folks! Yesterday, we saw Silvergate voluntarily shutdown and today Crypto completely crashes. Never a dull moment in the world of Crypto, let's dive into the news...
Trending News Topics:
- Crypto Crash (9)
- NY Sues Kucoin (6)
- Silvergate Closed by Regulator (6)
CRYPTO
Crypto Needs ‘Guardrails’ To Realize Positive Effects On Financial System, Top Fed Official Says.(2) $920B is the number to watch now that crypto’s trillion dollar total market cap is gone.
BITCOIN & ETHEREUM
Bitcoin Plummets 8%, below $20K, as Crypto Market Falls Below $1 Trillion; $300M liquidated.(9) Bitcoin battles $20K as trader calls bank chaos '2008 all over again.' $429,000,000 in Bitcoin and Crypto Liquidated in Just 24 Hours As Powerful Law Enforcement Agency Targets Ethereum. Bitcoin Market Fearful Again As Sentiment Drops To Lowest Since January. Bitcoin Bounces as U.S. Adds 311K Jobs in February, Beating Expectations. Bitcoin Flat as Jobs Report Refocuses Markets on Terminal Interest Rate. SEC denies VanEck spot BTC trust product, commissioners see double standard.
Messari CEO Ryan Selkis Advocates Buying Bitcoin Despite Massive Sell-off. Macro Expert Lyn Alden Warns a ‘Straight Up’ Bitcoin (BTC) Bull Market Is Unlikely Any Time Soon. Reviewing Code Is Mind-Numbing: Q&A With Bitcoin Maintainer Andrew Chow.
Bitcoin Miner Hut 8 Talks Operational Issues and USBTC Merger in Earnings Call.
Ether Hits Two-Month Low Under $1.4K as Coinbase Premium Index Dwindles. On-Chain Liquidations Beckon as Ether Slumps to 2-Month Low. Next stop Shanghai — Ethereum’s latest milestone approaches.
Opinion: Ether a Security? That Could Have Huge Ramifications for Crypto, Legal Expert Says.
STABLECOINS & CBDCs
Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns. Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank. MakerDAO Founder Calls for Rebranding of DAI Stablecoin. DeFi Protocol Curve’s $500M Stablecoin Pool Hammered as Traders Flee USDC. Stablecoin issuers seek to diversify banking partners in the wake of Silicon Valley Bank's meltdown. USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal. USDC Issuer Circle Says it 'Awaits Clarity' From FDIC on Silicon Valley Bank Collapse. Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank's Shutdown.
Senior U.S. House Republican Says CBDCs Could Be ‘Weaponized’ as Political Tool.(2) SWIFT Moves To Second Phase Of CBDC Testing After Successful Test Run.(2)
ALTCOINS
$XRP Price Bucks Bearish Trend as Ripple Chief Legal Officer’s Confidence Grows. XRP Fails to Break Through, Is This End of XRP's Uptrend? Cardano (ADA) up 6% Despite Market Turmoil as Whale Buys Dip. Dogecoin hits 4-month lows vs. Bitcoin — 50% DOGE price rebound now in play. Could Dogecoin (DOGE) make you a millionaire? No Recovery in Sight as Litecoin (LTC) Price Slides by 32%.
EXCHANGES/BANKS
Blockchain.com to Suspend Operations of Asset Management Arm: Bloomberg.(2) Replacing Silvergate’s Network Is a Challenge for Crypto Industry: JPMorgan.(2) Crypto-Friendly Silicon Valley Bank In Talks to Sell Itself; plunges 60% before halt, Signature trading stopped shortly after open.(6) Circle’s exposure to US banks could top $9B. Crypto VC Firm Pantera Used Silicon Valley Bank as a Custodian. Standard Chartered to offer Bitcoin and crypto custody in EU through subsidiary. BlockFi has $227 million in uninsured funds in Silicon Valley Bank.
Opinions: Investors might have avoided FTX if the SEC had addressed Bitcoin ETFs, says BitGo CEO Mike Belshe. Why Financial Analysts Missed Silvergate’s Red Flags. A Tale of 2 Banks: Why Silvergate and Silicon Valley Bank Collapsed. How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout. Who Failed Silicon Valley Bank Depositors?
LEGISLATION/REGULATION/TAXATION
Crypto Regulation Overhaul Plans Gaining Traction At Republican House. US House Republicans Blast Biden Administration’s Attack on the Crypto Ecosystem.(2) Lawmakers Revive ‘Keep Innovation in America’ Act to Prevent Crypto Exodus. Banks Shouldn’t ‘Punish’ Crypto Industry, Republican Senators Urge. US Congressman Tom Emmer warns CBDCs can be ‘easily weaponized’ to spy on Americans and Future of Bitcoin and Crypto Will Be Determined by Congress – Not the Biden Administration. South Dakota gov Kristi Noem vetoes bill excluding crypto from definition of 'money.'(3)
CFTC Chair Declares Ethereum (ETH) a Commodity, Regardless of Gary Gensler’s Bitcoin-Only Stance. SEC of Thailand wants public feedback on crypto lending, staking ban. New Russian Crypto Mining Bill Mandates Earnings Reports or Face Jail Time. Federal Reserve Setting Up New Squad of Crypto Specialists. President Biden’s 2024 Tax Plan to Target Crypto Wash Trading and Capital Gains.(2) U.S. Treasury Department Proposes 30% Excise Tax on Crypto Mining Firms.
LEGAL CASES
Voyager Continues Liquidating Crypto Assets for Circle’s USDC Stablecoin.(2) DoJ Pushes Against Voyager-Binance Deal With Late Appeal.(2) Sam Bankman-Fried may need more time to review 'substantial' evidence, lawyers say. Sam Bankman-Fried’s bail conditions still too lenient, says judge. New York authorities sue KuCoin over unregistered crypto sales, labels ETH a security.(6) CryptoLawyers.org To Investigate Major Crypto Exchanges. Ripple v. SEC: Bloomberg Expert Expecting Ruling in Coming Months.
WATCH
LISTEN
Podcast of the Day: #1170 Cathie Wood on Bitcoin, Tech, Venture Capital, and Innovation | The Pomp Podcast
Other Podcast
- This Week in Crypto: Court is in Session | Bloomberg Crypto
- The Real Reasons Silvergate Collapsed | The Breakdown
- Silvergate Drowns Crypto | Will We Get A Bitcoin ETF? Dave Nadig, James Putra, Lucas Outumuro | TWOAS
- Read_709 - The Breez Open LSP Model [Roy Sheinfeld] | Bitcoin Audible
- “Crypto Folk” Solving Scalability & Embracing Equity with Jane Ma of zkLend | The Charlie Shrem Show
- Weekly Roundup 03/10/23 (Silvergate wind-down, NYAG comes after ETH, more bank runs) | On The Brink
- ROLLUP: Silvergate Liquidate?! | Elizabeth Warren vs. Binance | Bankless 2.0 Announcement | SEC Taking Ls? | Bankless
- BTC Prague - The Biggest Bitcoin Event in Europe with Stephan Livera, Matyas and Martin Kuchar - March 9th, 2023 | The Cafe Bitcoin Podcast
