On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if […]
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 […]
The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership “was based on the current status of the bank […]
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire emphasized. Crypto Firms Scramble for […]
As a result of the rise of the development of Bitcoin to other digital currencies, the cryptocurrency industry is now expanding in an amazing way. Some people have enjoyed great benefits as a result of their involvement in this field, until they are finally categorized as crypto billionaires. here are the 5 richest crypto billionaires: […]
Nissan recently filed four new Web3 trademarks for the Infiniti, Nismo, and Nissan brands. Japanese automotive brand Nissan has become the latest automaker to step up its Web3 efforts, with four new Web3-related trademarks filed in the United States, while its Japanese unit experiments with car sales in cyberspace. According to Nissan’s March 7 trademark […]
Back in November, after the collapse of FTX, the exchange’s rival, Binance decided to roll out the Industry Recovery Initiative. The initiative planned to provide aid to cryptocurrency projects that were enduring a liquidity crisis post the FTX crash. This fund continues to entail $1 billion worth of Binance USD Coin [BUSD]. More recently, Changpeng […]
Crypto exchange Binance has organized training courses for representatives of law enforcement authorities in Ukraine. The leading coin trading platform has been involved in dozens of similar initiatives over the past year, in a number of countries. Binance Provides Crypto Training to Security Officials in Ukraine The world’s largest digital asset exchange, Binance, has provided […]
The Central Bank of Bolivia is now selling dollars directly to citizens in order to curb what it is calling a speculative attack that has increased the demand of the population for foreign currency. This rise in demand has been caused by several factors which led the population to believe there might be a devaluation […]
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing […]