‘How did this happen’ — Powell says Fed stumped over the collapse of SVB
In a post-FOMC meeting on March 22, the chairman of the Federal Reserve said his “only interest is that we identify what went wrong here.” Go to Source Powered by WPeMatico
Elizabeth Warren
Auto Added by WPeMatico
US Senator: Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards
U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took “excessive risk,” the senator demanded answers from the CEO of Signature Bank regarding “the economically disastrous outcomes you created.” Senator Elizabeth Warren’s Letter to Signature Bank’s CEO … Read more
Extreme Market Turbulence: Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik’s Token Sell-Off Moves Markets, and More — Week in Review
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank run and other troubles. In … Read more
Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’
After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.” Crypto Proponents Offer Different Perspectives on Silvergate … Read more
ESG Analyst Daniel Batten Reveals Dynamic Charts Showing Bitcoin’s 52.6% Sustainable Energy Use
Environmental, social, and governance (ESG) analyst Daniel Batten said Tuesday that the computational backbone of the Bitcoin network now uses 52.6% sustainable energy. Batten and onchain analyst Willy Woo created Dynamic Bitcoin ESG Charts to showcase the protocol’s progress. Contrary to Cambridge University Data, Analyst Says Bitcoin Mining Uses 52.6% Sustainable Energy These days, there … Read more
Silvergate downfall sparks debate over whose fault it actually was
The demise of the crypto-friendly bank has prompted discussion about who tipped the first domino, and where crypto firms can turn for their banking needs. Go to Source Powered by WPeMatico
CZ denounces false rumor ‘widely’ spread on China’s WeChat
A Metamask security analyst stated that the rumor was the “2023 adaptation of attempted market manipulation.” Go to Source Powered by WPeMatico
United States CBDC would ‘crowd out’ crypto ecosystem: Ex-Biden adviser
Daleep Singh argues that crowding out cryptocurrencies by establishing a CBDC in the United States would protect the country’s national interests. Go to Source Powered by WPeMatico
Sen. Warren vows reintroduction of AML bill that extends to DAOs and DeFi
While the Senator did not expand on other details of the upcoming bill, she suggested that DeFi should not be exempt from AML laws. Go to Source Powered by WPeMatico
FTX Bankruptcy: Judge Delays Decision on Appointing Independent Examiner Amid Cost Concerns
Judge John Dorsey has delayed his decision on whether to appoint an independent examiner in the FTX case. At the latest hearing, Dorsey acknowledged that the cost to debtors could reach tens of millions of dollars. Currently, the bankruptcy judge is hopeful that the issue will be resolved through a mutually agreed upon solution between … Read more
