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Who should be held responsible for the Silvergate Bank and SVB crises?

As bank after bank topples, fingers are pointing everywhere. But crypto is not to be blamed for this unfolding crisis, writes Winston Hsiao of XREX.

Circle says US$3.3 bln USDC reserve at SVB available Monday, announces partnership with Cross River

Circle said the USDC reserve deposits held at the failed Silicon Valley Bank will be recovered when banks open on Monday.

What Europe’s new spot Bitcoin ETF means for global markets

Europe’s first spot Bitcoin ETF ushers in an era where traditional finance and crypto are converging, setting the stage for digital assets to become mainstays in the economy.

U.S. SEC moves to appeal Ripple court decision

The U.S. Securities and Exchange Commission (SEC) submitted a filing last Friday that pushed the court of the Southern District of New York to appeal its ruling on the agency’s lawsuit against Ripple Labs.

Bitcoin above US$26,000; JP Morgan working on blockchain payment system

Bitcoin rose Friday morning in Asia to above US$26,000, leading a rally across most top 10 cryptos. Ether gained but was still below US$1,650.

Bitcoin, Ether rise with SOL leading winners in top 10 cryptos

SOL was the biggest gainer in the top 10 following its Shopify deal. Bitcoin and Ether also rose along with most top 10 cryptocurrencies.

Could Rishi Sunak’s blockchain dream live on without him?

This final installment of a 3-part series on the U.K. digital asset industry looks at the politics driving the British crypto conversation. PM Rishi Sunak is a believer, but an election’s coming up, and his rivals appear less keen on turning the U.K. into a global crypto hub.

NFT gamers ready to get wrecked

Wreck League: New PVP NFT game with custom mechs set to dominate. Partnerships with Yuga Labs and Bored Ape Yacht Club promise big potential in shifting NFT market landscape.

Stablecoins can make banking safe again: Opinion

Stablecoins play a pivotal role as a safe-haven medium of exchange in times of high inflation, writes James Glasscock. But they’re not without risks.

USDT’s goal is to be the dollar, not beat it, says Tether CTO

Scrutiny on the stablecoin’s reserves has intensified since USDT’s latest depegging scare. Paolo Ardoino, CTO of Tether and Bitfinex, delves into the composition of USDT reserves, explaining how the firm ensures dollar redemptions, irrespective of secondary market prices.

Why are so many VCs and startups flocking back to banks?

The collapse of Silicon Valley Bank and others led to predictions of big shifts away from centralized finance. James Wo examines why that hasn’t happened yet.

Are deposit tokens the new stablecoins — or a wolf in sheep’s clothing?

Stablecoins are a key part of the crypto ecosystem, but banks like JPMorgan are now exploring deposit tokens as an alternative. Which is better, and why?

Weekly Market Wrap: Bitcoin rises above US$29,000, Ether recaptures US$1,900

Bitcoin inched above US$29,000 on Friday, as concerns over the health of the banking system have been reignited. Industry experts tell Forkast that banking troubles could fuel Bitcoin values, which face significant resistance above US$29,500.

Bitcoin rediscovers its mojo as banks stumble, says Standard Chartered’s Geoff Kendrick

Against a backdrop of increasing turmoil in traditional banking, Bitcoin is on a four-month winning run that could, tailwinds permitting, soon turn into a surge.
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Bitcoin, Ether, Litecoin rise, BNB stumbles; US equity futures flat ahead of Fed interest rate decision

Bitcoin and Ether gained ground in Wednesday morning trading in Asia, with most other top 10 tokens mixed. Litecoin gained, BNB was the biggest loser.

Bitcoin, Ether drop; BNB, Polkadot biggest losers in top 10 cryptos; U.S. stock futures weaken

Bitcoin dropped 2.09% in Tuesday afternoon trade in Asia while Ether lost 0.81%. BNB fell 2.93% and Polkadot declined 2.66%.
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Bitcoin, Ether lose ground; Polkadot leads losers among top 10; U.S. equity futures slip

Bitcoin dipped to US$28,000 in Tuesday morning trading in Asia and then fell through that support line later in the morning. Ether and other top 10 cryptocurrencies also fell.

Bitcoin, Ether fall amid renewed banking sector concerns; BNB is sole gainer in top 10 cryptos

Bitcoin dropped below US$29,000, while Ether fell below US$1,900 on Monday afternoon in Asia. Binance’s BNB was the only token in the top 10 cryptocurrencies to rise.

HKMA urges local banks to provide services to regulated digital asset firms

Arthur Yuen, Deputy Chief Executive of the Hong Kong Monetary Authority, urged local lenders to provide banking services to regulated crypto firms.

Bitcoin to peak at US$42,000 in 2023, end the year above US$35,000: Finder survey

Bitcoin is expected to hit a high of US$42,225 in 2023 and close the year around US$35,485, according to a survey by Finder.

Crypto firms hardpressed to find U.S. bank partners as industry blames ‘Operation Choke Point 2.0’

NYDFS superintendent Harris called the idea of Operation Choke Point 2.0 “ludicrous,” but industry participants largely disagree. Was the shutdown of the three largest crypto-friendly institutions a coordinated effort to unbank crypto?

The TradFi vs. DeFi rivalry is hitting a new peak — and that’s bad for everyone

Amid the current banking crisis, each side is exhibiting disdain for the other when neither holds the moral high ground, writes Rachel Lin of SynFutures.

What the US can learn from the Philippines to regulate crypto in a smarter way

The Philippines has licensing requirements and proactively monitors crypto firms, while the US regulates by enforcement only after consumers are already badly hurt, writes Robert De Guzman of Coins.ph.

Banking crisis shows why Bitcoin is needed more than ever

From the ashes of Lehman Brothers to this year’s bank failures, Bitcoin has proven itself as a necessary part of the global financial system, writes Mike Belshe, CEO of BitGo.

Asia leads crypto regulations, innovation may leave the US, says Ripple’s Long

Asia-Pacific nation are leading the way in developing global cryptocurrency regulations that favor innovation, which is something that U.S. regulators should also take note of, said Ripple Labs Inc. President Monica Long

Bitcoin buoyed as bank busts spook investors

Top blockchain and crypto news: Banking woes boost Bitcoin. Arbitrum counts down to launch. Chinese billionaire faces US crypto scam charges.

Bitcoin Fear & Greed index rises to 16-month high as investors seek safe-haven assets

The Bitcoin Fear & Greed index rose to a 16-month high of 68 points today, signaling that investors are becoming more greedy than fearful.

Crypto needs to look abroad as US exchanges go unbanked

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

Bitcoin rises past US$28,000, most other top 10 cryptos gain

Bitcoin traded above US$28,000 on Monday afternoon in Asia, a gain of 25% over last week, as a banking crisis in the U.S. and Europe prompted traders to see Bitcoin as a safe haven.
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New York Community Bancorp unit to assume Signature Bank deposits, FDIC says

New York Community Bancorp will assume all deposits and certain loan portfolios of the failed Signature Bank, the FDIC said on Sunday.

Weekly Market Wrap: Bitcoin rises above US$26,000, as ‘store of value’ narrative strengthens amid bank failures

As the U.S. banking system stared into the pit of bank runs and collapsing share prices, the authorities acted swiftly to try and pull everything back from the edge. However, Bitcoin seemed unperturbed. Is this what a safe haven looks like?

Bitcoin, Ether rise; relief for investors as major banks get liquidity lifeline

Bitcoin and Ether rallied by the end of Asian trading hours on Friday afternoon, together with all other top 10 non-stablecoin cryptocurrencies by market capitalization.

Circle’s USDC bounces back after Silicon Valley Bank bust

Top blockchain and crypto news: USDC stabilizes after SVB collapse. Silvergate closes shop. China tightens financial supervision.

Bitcoin breaks US$26,000 as inflation cools in February

Bitcoin, the world’s largest cryptocurrency, rallied past the US$26,000 mark at 09:15 p.m. in Hong Kong, shortly after the release of the United States Consumer Price Index (CPI)

Circle’s Disparte speaks on de-risking crypto from banking risks

The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte.

Bitcoin, Ether extend gains as U.S. regulators take charge of banking industry turmoil

Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.
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Bitcoin jumps above US$24,000, leading crypto gains as U.S. acts to backstop banks

Bitcoin continued to gain in morning trading in Asia, as regulators acted to backstop the U.S. banking industry. Most of the top 10 cryptocurrencies gained.

Banks are bringing systemic risks to crypto, says Circle’s Disparte

The recent U.S. bank failures are proof that the banking system is introducing systemic risks to the crypto industry, not vice versa, says Circle chief strategy officer Dante Disparte.

Bitcoin, Ether gain after U.S. regulators take charge to shield deposits across crypto-related banks

Bitcoin and Ether gained in Monday afternoon trade in Asia, along with all other top 10 non-stablecoin cryptocurrencies by market capitalization, after U.S. regulators took charge of Silicon Valley Bank and Signature Bank, both with exposure to crypto industry, protecting deposits and confirming that no losses will be borne by the taxpayer. 
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Circle’s USDC stablecoin regains parity as regulators act to stop bank run risk

Circle said its $3.3 billion of USDC cash reserves at the collapsed Silicon Valley Bank will be available Monday after regulators stepped in to backstop deposits.

Bitcoin, Ether, Forkast 500 NFT index close lower on the day

Bitcoin and Ether tumbled during Asia trading hours on Friday afternoon, with Dogecoin leading losses among the top 10 largest non-stablecoin cryptocurrencies by market capitalization, pressured by crypto bank Silvergate’s liquidation

Weekly Market Wrap: Bitcoin rebounds above $23,000. Can it maintain momentum?

Bitcoin this week broke through the US$23,000 price ceiling for the first time since Aug. 2022. Can the benchmark cryptocurrency maintain its momentum? Industry commentators share their views with Forkast on what the market is telling investors and the signals from the U.S. Federal Reserve on interest rates.

Looking to invest in vintage wine? There’s an NFT coming for that

Startup platform Farandole has a plan to transform the traditional wine industry with NFTs, cryptocurrency and blockchain technology.

Digital asset custody platform Fireblocks completes $310 million fundraise

Capital increase takes company’s valuation to US$2 billion as it looks to grow customer base, partnerships.

Blockchain data cruncher Chainalysis raises $100M to expand in Asia Pacific

Chainalysis, the blockchain and cryptocurrency data analytics firm, announced today that it has raised US$100 million in a Series E funding round with a US$4.2 billion valuation. Fast facts: Headquartered in New York, Chainalysis provides blockchain-based software that enables governments and businesses to detect and prevent cryptocurrency crime and money laundering. Chainalysis’ series E round […]

XRP price surges over 40% following another legal victory for Ripple

Court ruling favoring Ripple executives and slapping down SEC catapults XRP — now the world’s 4th most popular crypto — to its highest prices in 3 years.

Ep. 5 | U.S. weighs digital dollar, Coinbase top lawyer joins Treasury, and more

In this newsletter and podcast, we bring you top headlines around the world, including: A new proposal to create a digital dollar. Coinbase’s legal chief heading U.S. Treasury. A Bitcoin-Red Cross coronavirus fundraiser in Italy. Universal basic income’s revival. Steem’s hard fork into Hive, and more.

Ep. 4 | Bitcoin’s wild ride, Robinhood in tough times, Covid-19 hacks Ethereum event

Also: Blockchain voting after the Voatz debacle, IOTA limps back after cyber attack, smart cities in China, and Forkast.News insights to help you make sense of the top headlines.