The United States Justice Department and the Securities Exchange Commission (SEC) have reportedly launched inquiries into the sudden collapse of Silicon Valley Bank (SVB) — which was shuttered by regulators last week amid a historic bank run.  According to “people familiar with the matter,” — cited in a March 14 report from The Wall Street Journal — the probes will […]

Crypto firm Paxos has said it’s expecting to face charges from the Securities and Exchange Commission (SEC) over its issuance of BUSD, the Binance-centered stable coin. It is believed by the financial agency that the company has been issuing the currency as a non-registered security. Paxos Will Likely Be Charged By the SEC The New York state financial regulator has […]

Despite a turbulent week for crypto following the downfall of Silicon Valley Bank (SVB) and Signature Bank, Bitcoin (BTC) market cap has managed to flip that of tech giant Meta. At the time of writing, data from Companies Market Cap shows Bitcoin’s market cap has reached $471.86 billion, surpassing that of Meta’s market cap of $469 billion. Companies Market Cap provides […]

Bitcoin surged roughly 10% in the past 24 hours to tap $22,620 during the Asian session Monday, recovering all weekend losses after last Friday’s collapse of Silicon Valley Bank roiled markets. Ether, too received a significant boost during the period, growing by just over 8% to tap $1,620. Other cryptos, including Cardano (ADA), BNB and XRP also posted gains of […]

The current state of the cryptocurrency market seems to be very unstable. With banks collapsing, stablecoin de-pegging, and the Fed raising interest rates, there is turmoil everywhere. The year began on a positive one, and everyone believed that the market was recovering from the influences of 2022, but things now appear to be rapidly declining. What are the regulators doing […]

According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that Okcoin’s U.S. dollar wire and ACH deposits have been “immediately paused” due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars.  […]

Banks are the lifeblood of a nation’s economic system, and any bank collapse is disturbing. Last week saw two failures. On March 8, Silvergate Capital — the cryptocurrency-focused banking company — entered into voluntary liquidation. On March 10, United States regulators shut down and seized the deposits of tech-oriented Silicon Valley Bank in what was being called the second-largest bank failure […]

The collapse of two of the top United States banks, Silicon Valley Bank and Signature Bank, has been considered the most bullish thesis for Bitcoin and other leading digital assets. Moreover, the top digital assets, including Bitcoin, Ethereum, and BNB, have gained over 7 percent in the past 24 hours as investors scramble for more secure investment tools.  Could The […]

DeFi Assets Stolen In A Flash Flash loan attacks are common in the DeFi space as hackers often use this method to exploit loopholes in the smart contract codes deployed by protocols. During such crypto hacks, the attacker borrows a massive amount of assets without posting sufficient collateral, or any collateral in some cases. After, the attacker will drain the […]