Russia and Ukraine are now in the world’s eye as they could possibly enter into conflict (analysts believe Russia is waiting for the end of the Beijing winter Olympics to do so) and Wall Street investors and the cryptosphere are going risk off. Stocks are falling and Bitcoin nears the $40k level again. Meanwhile some […]
As Forbes reports, the breakthrough is major: it officially allows institutions to “keep deposits as a reserve for stablecoins”. Stablecoins of course already make use of banks, so it is a matter of formalizing the latter’s supervisory role. It was the Office of the Comptroller of the Currency (OCC) that clarified this new role, in […]
What are stablecoins? Stablecoins are cryptocurrencies that are somewhat stable and are linked 1:1 to a currency that we currently use a lot. In most cases, this is to the United States Dollar (USD). There are even stablecoins that are equal to the price of gold, silver or platinum. Currently, there are several stablecoins available […]
European stock markets fell sharply on Monday after the size of the latest US banking crisis became known. In America, losses were limited after the largest banks already fell last week. In the meantime, most of the holes seem to have been closed and we can see who the winners and losers are of the […]
Panic over the solvency of Circle, a major US-based crypto firm, grew overnight and Circle management had to reassure customers that their funds would be protected. USDC, the second-largest stablecoin and fifth-largest cryptocurrency according to market cap, lost its peg to the dollar on Saturday morning as a result of some a good $2 billion […]
Crypto companies in the United States needs banks, in fact much more than banks in the United States need crypto. If Silvergate, the California bank that so many American crypto companies did business with, were to collapse, it would create an existential problem for some of them. And a mega problem for the entire crypto […]
Last week we saw bullish predictions forecasting a direct jump to $50,000 for Bitcoin, this week we seem to be taking a breather. Equity markets are mostly lower for the week. Meanwhile, the US stock exchange watchdog is starting an investigation into stablecoins, about two weeks after a major US bank indicated that it would […]
Just like stock markets Bitcoin is in waiting mode to see what the Federal Reserve will decide later this week with regards to interest rates. Federal Reserve chairman Jay Powell can either let markets rip of selloff with every word at this point and even the excellent performance of Bitcoin in January could be a […]
Breaking news from the Bahamas overnight as FTX founder and crypto savant Sam Bankman-Fried was arrested by authorities there. Sam is scheduled to appear in a magistrates court in the Caribbean country’s capital, Nassau, later today. Crypto Twitter applauded the decision while some said: finally. Meanwhile another algorithmic stablecoin, this time the one created by Tron founder […]
The birth of Decentralized Finance (DeFi) has seen so many platforms joining the space. Unfortunately, it’s hard to differentiate genuine from phony platforms. Some have been shrouded in controversy while others are just forks (clones). Luckily, there are a few genuine ones that have continued to gain interest with time. Aave protocol is one such […]