Bitcoin

Bitcoin (BTC) saw heavy volatility on March 22 as the United States Federal Reserve hinted that it may stop interest rate hikes. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Powell on rates: “‘May’ and ‘some’ instead of ‘ongoing'” Data from Cointelegraph Markets Pro and TradingView showed sharp moves both up and down for BTC/USD as the

Japanese tech giant Fujitsu has filed a trademark application with the U.S. Patent and Trademark Office that covers several cryptocurrency services. The application specifically mentions “financial management of crypto assets,” “financial exchange of crypto assets,” and “financial broker services for cryptocurrency trading.” Fujitsu’s Crypto Trademark Application Fujitsu, one of the world’s largest IT service providers,

The Crypto Fear and Greed Index has hit its highest index score this year, reaching levels not seen since Bitcoin (BTC) posted its all-time high in November 2021. A March 20 update of the Index showed a score of 66, placing it firmly within the “Greed” territory. The Index’s score of 66 as shown on

A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread across the entire banking system,”

Former Coinbase chief technology officer Balaji Srinivasan has made a millionaire bet on Bitcoin’s (BTC) price over the next 90 days, predicting the cryptocurrency price will reach $1 million by June 17.  The wager was initiated on March 17, when pseudonymous Twitter user James Medlock offered to bet anyone $1 million that the United States

The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks

Our weekly roundup of news from East Asia curates the industry’s most important developments. Chinese billionaire arrested in U.S. for $1B financial fraud  According to an announcement published by the U.S. Department of Justice (DOJ) on Mar. 15, Chinese billonaire Ho Wan Kwok (aka Miles Guo and more commonly as Guo Wengui), has been arrested

India’s central bank, the Reserve Bank of India (RBI), and the Central Bank of the United Arab Emirates (UAE) have agreed to collaborate on cross-border central bank digital currency (CBDC) transactions of remittances and trade. The initiative is “expected to reduce costs, increase efficiency of cross border transactions and further the economic ties between India

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,

Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after the central bank announced measures to rescue depositors of failed Silicon Valley Bank and

Traders dumped risky assets following the crisis and failure of Silicon Valley Bank. The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week.  The collapse of SVB led to a crisis in the crypto space, with USD Coin (USDC) losing its peg to the U.S. dollar on reports that $3.3

The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that another bank is set to crash following the collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank. Kiyosaki also recently said the world economy is on the verge of collapse, warning of bank runs, frozen savings, and

Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13. Total crypto market cap

Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that “policy issues are equally important.” Fed Chair Powell on CBDC Progress During a hearing

Bitcoin mining firm Marathon Digital has paid off its term loan and terminated its credit facilities with crypto-friendly Silvergate Bank, just as the bank announced it will be winding down operations. Marathon announced on Mar. 8 that it had prepaid its outstanding loan balance earlier that day, and would be terminating the revolving line of

Federal Reserve Chairman Jerome Powell has outlined several risks related to crypto activities during a hearing before the Senate Committee on Banking, Housing, and Urban Affairs. While stating that the Fed sees turmoil, fraud, a lack of transparency, and run risk in the crypto space, he stressed: “We don’t want regulation to stifle innovation.” Fed

The hopeful optimism of Bitcoin (BTC) traders seemed to dissipate in the first week of March as key on-chain metrics provided resistance. Now Bitcoin is threatening a retest of the $22,000 level, and a wave of short sellers would stand to profit if that occurred. If the short sellers’ strike price hits, some analysts believe

The CEO of Ripple Labs has warned of the harm to the crypto industry if the U.S. Securities and Exchange Commission (SEC) is able to prevail in its lawsuit against Ripple over xrp. He cautioned that the SEC’s enforcement-centric approach to regulating crypto “is not a healthy way to regulate an industry.” Ripple’s CEO on

Time value of money, explained The time value of money (TVM) is the concept that money available today is worth more than the same amount of money in the future. While inflation gradually weakens the purchasing power of money, its worth can rise over time by being invested or earning interest. The time value of

On March 2, 2023, FTX debtors released their second stakeholder presentation, which contains a preliminary analysis of the now-defunct cryptocurrency exchange’s shortfalls. The latest presentation reveals a significant shortfall, as approximately $2.2 billion of the company’s total assets were found in FTX-related addresses, but only $694 million is considered “Category A Assets,” or liquid cryptocurrencies