U.S. tech giant Meta is giving up on operations with non-fungible tokens (NFTs) amid ongoing turbulence in the crypto space. The company allowed creators to share digital collectibles on its leading social media platforms last year. Meta Platforms Cutting Off Support for Non-Fungible Tokens California-based technology conglomerate Meta is winding down support for digital collectibles
Bitcoin (BTC) received a substantial boost this week as United States inflation levels for February were in line with market expectations. On March 14, the BTC/USD pair surged to a 2023 peak at $26,550 after the news. But, while the macroeconomic conditions may currently favor risk-on buyers, certain on-chain and market indicators hint at a potential correction
Ethereum-based noncustodial lending protocol Euler Finance is trying to cut a deal with the exploiter that stole millions from its protocol, demanding the hacker returns 90% of the funds they stole within 24 hours or face legal consequences. Euler Labs sent its ultimatum to the flash loan attacker who exploited the platform for $196 million by transferring
United States officials want to remove a provision included in bankrupt lender Voyager Digital’s plan to sell its digital assets to crypto exchange Binance.US that would prevent them from legally pursuing anyone involved with the sale. In a motion filed on March 14 in a New York Bankruptcy Court, U.S. Trustee William Harrington and other
A new study shows that payments via central bank digital currencies (CBDCs) are expected to reach $213 billion annually by 2030. Furthermore, 92% of the total value transacted via CBDCs will be paid domestically, the research found. $213 Billion Annually Research and market intelligence firm Juniper Research published a report on central bank digital currencies
Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its decision. In a March 14 statement Anchorage labeled the layoffs as “a strategic realignment to better focus our resources,” and pointed to “broad macroeconomic challenges,
The United States Justice Department and the Securities Exchange Commission have reportedly launched inquiries into the sudden collapse of Silicon Valley Bank, which was shuttered by regulators last week amid a historic bank run. According to “people familiar with the matter” — as cited in a March 14 report by The Wall Street Journal —
The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve. “Bitcoin is a strange animal,” he said, asserting that the price of the cryptocurrency is “being manipulated up.” Jim Cramer’s Recommendations The host of
The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people familiar with the matter, investigators with the Justice Department were examining whether Signature took adequate measures to detect potential money laundering by its clients. It was noted the
The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that its decision to put Signature Bank in receivership “was based on the current status of the bank
The Shapella hard fork has been executed on the Goerli testnet — the last test run before Ethereum validators will be able to withdraw their Ether (ETH) from the Beacon Chain. There were, however, issues with the hard fork. Ethereum core developer Tim Beiko noted that while deposits were being processed, the process didn’t run
Billionaire Jeffrey Gundlach, aka the “Bond King,” expects the Federal Reserve to raise interest rates at its March meeting next week, which “would be the last increase,” he said. In addition, Gundlach cautioned: “The inflationary policy is back in play with the Federal Reserve.” Doubleline CEO Jeffrey Gundlach on Fed Rate Hikes Jeffrey Gundlach, chief
After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from “stable” to “negative.” As one of the “Big Three” credit rating firms, Moody’s cited a “rapid deterioration
Web3 wallet app Metamask has introduced a number of new features aimed at enhancing privacy and giving users more control, according to a March 14 blog post by the developer. The new features come after Metamask had previously been criticized for allegedly intruding on users’ privacy. MetaMask Mobile v6 is now available to everyone! Our
The government of Spain has approved the resources for a new issuance of gold bullion coins, which will be directed to satisfy a higher estimated demand for these instruments. The Spanish National Coin Factory will purchase 40 million euros in high-quality gold pieces for this batch, a significantly higher amount of gold compared to the
Credit rating agency Moody’s has recently downgraded its outlook on the entire United States banking system from “stable” to “negative.” The move comes in light of the recent failures of Silicon Valley Bank, Silvergate Bank and Signature Bank, which has prompted regulators to intervene with a rescue plan for impacted depositors and institutions. Despite the downgrade,
The European Parliament passed the Data Act on March 14. The comprehensive bill was intended to “boost innovation by removing barriers obstructing access to industrial data.” Among its provisions is an article that would require smart contracts to be alterable. The legislation established rules for fairly sharing data generated by “connected products or related services,”
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and
Cryptocurrency exchange Coinbase filed an amicus brief in support of a motion to dismiss the case brought by the United States Securities and Exchange Commission (SEC) against former Coinbase product manager Ishan Wahi and other for insider trading. Coinbase condemns the defendants conduct, it said in the brief, but supports the defendants’ motion because of
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central