Bookmarking Crypto Insights
Auto Added by WPeMatico
After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen lenders announced they will deposit $30 billion into the beleaguered bank’s coffers to shore up liquidity. U.S. … Read more
Only 11,440 NFT traders were active on March 11 which was the lowest figure recorded since November 2021. Go to Source Powered by WPeMatico
The collapse of FTX led to a similar exodus from centralized exchanges, as users worried they may lose access to funds during crises. Go to Source Powered by WPeMatico
The fire lit by Silvergate Bank and Silicon Valley Bank will make it harder for crypto to find financial partners. Go to Source Powered by WPeMatico
The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal … Read more
Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit … Read more
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 … Read more
Silicon Valley Bank’s downfall was a product of traditional finance — critics shouldn’t conflate the issue with cryptocurrency. Go to Source Powered by WPeMatico
The fact that most banks aren’t required to keep your money on hand makes it likely that more bank failures will occur in the months ahead. Go to Source Powered by WPeMatico
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 … Read more
