South Korea launches ‘Metaverse Fund’ to expedite domestic initiatives
With the help of the Metaverse Fund, South Korea will support the mergers and acquisitions…
Day: 12 March 2023
South African Rand Plunges to New 2023 Low Versus the US Dollar
Just a few weeks after tapping its best exchange rate versus the greenback in 2023,…
Revised Bill Suggests Prison Time for Russian Crypto Miners Evading Taxation
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners…
Nigerian Central Bank Unveils Open Banking Guidelines
The Nigerian central bank recently said it had issued operational guidelines for open banking in…
Over 100 VCs, investors voice solidarity with Silicon Valley Bank
Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank to limit the…
Filing shows BlockFi has uninsured $227M in Silicon Valley Bank fund
BlockFi’s capital allocated to the money market mutual fund is not FDIC insured; however, the…
Bill Ackman warns US gov’t: Fix mistake in ‘48 hours’ or face ‘destruction’
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be…
Cryptocurrency Turnover Growing in Russia, Watchdog Reports to Putin
Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has…
Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits
Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting…
Rich Dad Poor Dad Author Robert Kiyosaki Warns Another Bank Is Set to Crash
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that…
Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and…
Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing…
Silicon Valley Bank failure could trigger run on U.S. regional banks
A petition urging regulators to step in claims that nearly 40,000 of all depositors at…
Silicon Valley Bank’s UK branch shut down by Bank of England
Several U.K. venture capital firms have shown support for SVB UK stating it is a…
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.