Blockchain Association Seeks Documents on Crypto ‘De-Banking’ From FDIC, Fed
The Blockchain Association, one of the largest crypto lobbying groups, is investigating what it says is the potential “de-banking of crypto firms” following the failure of three banks over the past month.
Galaxy Digital CEO Recommends Buying Crypto And Bitcoin Amid US Credit Crunch
Galaxy Digital CEO Mike Novogratz foresees a future decline in the United States banking system operations; as such, he encourages crypto investors to purchase certain assets, including Bitcoin, that might stand the test of time.
Reuters Report That Any Bank Bidding for Signature “Must Give Up All Crypto Business”
The U.S. Federal Deposit Insurance Corp (FDIC) has started requesting bids from banks interested in acquiring failed lenders Silicon Valley Bank and Signature Bank — but whoever bids on Signature cannot have any ties to the crypto industry, according to Reuters.
What Is Range-Bound Trading? Types of Range-Bound Strategies for a Sideways Market
Range-bound trading can be a viable strategy for experienced traders who are aware of their risk tolerance and have a solid understanding of technical analysis.
FDIC Asked Signature Buyers To Stop All Crypto Business: Report
The United States’ Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks to not support any crypto services.
Market Byte: Caught in the Balance – U.S. Banks, Stablecoins, & Crypto Markets
The impact of the closure of these banks highlights a key difficulty of operating a business within or adjacent to the crypto ecosystem: the difficulty of finding reliable banking partners.
Crypto Acted As Safe Haven Amid SVB and Signature Bank Run: Cathie Wood
Amid all the chaos around multiple bank runs in the United States, Cathie Wood, CEO of asset management firm Ark Invest, said cryptocurrencies acted as safe haven amid the ongoing banking crisis in the US. She blamed the recent downfall of the likes of Silicon Valley Bank (SVB), Signature and others on the Fed’s policy failure.
Cathie Wood Says Crypto Did Not Force SVB and Signature Into Bankruptcy, Fed Policy Did
Cathie Wood, the founder and CEO of ARK Invest, wrote on Twitter:"Crypto did not force SVB and Signature into bankruptcy. In my view, Fed policy was the primary culprit. Because of a VC funding drought and higher yields on money market funds, deposits left the US banking system."
Bitcoin, Ether Drop, Other Top Cryptocurrencies Retreat as Bank Liquidity Concerns Rise
Bitcoin and Ether dropped in Thursday morning trading in Asia along with the rest of the top 10 non-stablecoin cryptocurrencies. Solana led the losers. The declines come amid concern that bank failures in the U.S. in recent weeks may point to broader problems in the financial sector after months of interest rate hikes in the U.S. and Europe. Shares in Credit Suisse Group AG fell sharply on Wednesday, unnerving U.S. equity markets. Regulation challenges remain a background concern for crypto-related businesses. (forkast)
U.S. Lawmakers Digging Through Crypto Legislation for Bipartisan Winners: Senator
The U.S. Congress is in the very early stages of making legislative progress for crypto oversight, with different ideas being reviewed for how much bipartisan support they can get, said Sen. Thom Tillis (R-N.C.).
