Search Results for: strengthen

Multichain Wallet Bitkeep Raises $30 Million From Bitget to Strengthen Links Between Defi and Cefi

by

On Wednesday, the multichain wallet Bitkeep announced it raised $30 million from the crypto derivatives platform Bitget. Bitkeep now has an overall valuation of $300 million, with goals aimed at strengthening the links between decentralized finance (defi) and centralized finance (cefi)….

Burry on Banking Crisis, Kiyosaki Warns of ‘Fake Money’ Injections; Talk of ‘Anti-Crypto’ Agenda Behind Signature Bank Collapse — Week in Review

by

Speculation and debate continue to rage surrounding the current global banking debacle. Hedge fund manager Michael Burry — known for predicting 2008’s economic crisis — is drawing comparisons to the Panic of 1907, while Rich Dad Poor Dad author Robert Kiyosaki…

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

by

Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts…

Pakistan Banks to Use Blockchain Technology for KYC

by

Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they describe as a decentralized and…

Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships

by

On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the…

Britain Announces Plans for ‘Robust’ Crypto Rules, Launches Consultation

by

The U.K. has unveiled “ambitious plans” to “robustly regulate” various crypto activities, while seeking to protect customers and grow its economy. In the next three months, British authorities will accept public feedback on the new regulatory proposals designed to govern digital…

White House Publishes ‘Roadmap’ to Mitigate Cryptocurrency Risks

by

The White House has published a “roadmap to mitigate cryptocurrencies’ risks.” The roadmap calls for authorities to “ramp up enforcement where appropriate” and Congress “to step up its efforts” to regulate the crypto sector. It also notes that legislation should not…

Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis

by

According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG,…

Huobi Korea Plans to Cut Ties With Parent Company, Strengthen Domestic Presence

by

According to a report from South Korea, the Korean subsidiary of Huobi Global is planning to cut ties with the parent company. The management of the trading platform stated that they plan to “strengthen its position” as a domestic cryptocurrency exchange…

Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq Trading

by

Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company’s stock has lost 96.34% year-to-date and on Dec….