Crypto bank Silvergate announced on March 3 that it is discontinuing its digital assets’ payment network, claiming the termination is a “risk-based decision”. The move comes after the bank’s stock fell over 59% in the past five days due to fears of a potential bankruptcy. A disclaimer on Silvergate’s website stated: “Effective immediately Silvergate Bank
On March 3, 2023, Uniswap Labs, the firm behind the decentralized exchange Uniswap, announced the launch of a limited early-release application through Apple’s Testflight program. The company stated that the limited release was due to Apple not granting approval for the application launch, and the team does not know why. Uniswap Labs Launches Limited Early-Release
Bitcoin (BTC) stayed lower into the weekend as ongoing problems at Silvergate bank pressured markets. Bad news holds Bitcoin back Data from Cointelegraph Markets Pro and TradingView showed BTC/USD lingering at around $22,350 on March 4. The pair had managed to avoid further losses after the initial shock around Silvergate wiped 5% off the spot price in
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
India’s recently launched in-house central bank digital currency (CBDC) — the digital rupee — is now being tested for offline functionality, revealed Ajay Kumar Choudhary, executive director of the Reserve Bank of India (RBI). The RBI — India’s central bank and regulatory body — launched the wholesale segment pilot for the digital rupee on Nov. 1, 2022,
Bitcoin consolidated recent losses on March 4, as cryptocurrency markets marginally stabilized from Friday’s sell-off. Prices plunged to a two-week low in yesterday’s session, however sentiment has somewhat shifted. Ethereum also recovered, moving back into the green to start the weekend. Bitcoin Bitcoin (BTC) consolidated Friday’s losses to start the weekend, as market volatility eased
In a “base case” scenario, Galaxy Digital’s research unit has tipped the burgeoning Bitcoin nonfungible token (NFT) market to hit a $4.5 billion market cap by March 2025. Bitcoin NFTs, or Ordinals, have attracted significant attention since the Ordinals protocol launched in late January, enabling users to inscribe data such as images, PDFs, video and
The U.S. stock market is approaching a crucial turning point as uncertainty over inflation rises after hotter-than-expected economic data released in February. Despite mounting investor worries, the economy is showing signs of resilience that could protect it against a significant downside move. The escalating risk-off sentiment in the market is also creating volatility for Bitcoin
Austin Federa, head of strategy at the Solana Foundation, spoke to Cointelegraph at the ETHDenver conference on the network’s outages, the impact of regulation on other projects, and the launch of its mobile device. Federa said the New York Department of Financial Services — or NYDFS, one of the state regulators responsible for licensing crypto
An official of India’s central bank, the Reserve Bank of India (RBI), says that the country’s central bank digital currency (CBDC) will act as an alternative to cryptocurrency. He stressed that the digital rupee must possess all the attributes of physical currency, including anonymity. India’s CBDC Update Reserve Bank of India (RBI) Executive Director Ajay
Stuart Alderoty, the chief legal officer (CLO) of Ripple Labs, has revealed in a new interview that the fintech company will immediately appeal if judge Analisa Torres grants summary judgment in favor of the US Securities and Exchange Commission (SEC). Until now, it was not clear whether Ripple would take that step and bear the
The show Macro Markets, hosted by Marcel Pechman, which airs every Friday at 12 pm ET on the Cointelegraph Markets & Research YouTube channel, explains complex concepts in layman’s terms and focuses on the cause and effect of traditional financial events on the day-to-day crypto activity. In today’s episode, crypto analyst Pechman analyzes the United
ConsenSys has announced the upcoming release of its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup to a public testnet on March 28, allowing for stress testing of the layer-2 scaling technology. ConsenSys’ research and development team has been working on its zkEVM rollup over the past four years. The zkEVM is touted to offer fast finality,
United States Senator Edward Markey and Representative Jared Huffman announced on March 3 that they would reintroduce the Crypto-Asset Environmental Transparency Act in Congress. The move comes ahead of a Senate hearing on the environmental impact of crypto mining, which Markey will chair on March 7. Markey and Huffman first introduced the bill in December,
According to statistics, the number of bitcoin bridged to the Avalanche blockchain saw a significant inflow on March 2, as more than 2,000 bitcoin were bridged on that day. Data further shows that as of Friday, March 3, a total of 8,504 bitcoin worth $190.9 million was bridged over to the Avalanche network. Bitcoin Bridged
Bitcoin (BTC) is leading the cryptocurrency markets lower and the matter is being exacerbated by Silvergate Banks’ ongoing issues. This week the cryptocurrency-focused bank said that it needed additional time to file its annual 10-K report and warned that it may not be able to operate for another 12 months. Reacting to this news, several cryptocurrency
Cryptocurrency markets experienced a relatively calm month in February as the total market capitalization gained 4% in the period. However, the fear of regulatory pressure appears to be having an impact on volatility in March. Bulls will undoubtedly miss the technical pattern that has been guiding the total crypto market capitalization upward for the past
Bitcoin (BTC) traded around $22,400 at the March 3 Wall Street open as analysts remained divided over the odds of a recovery. Hopes for an inverse “Bart Simpson” on BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading flat after an earlier flash crash saw $1,000 shaved off in minutes. As Cointelegraph reported, concerns
In this week’s episode of Market Talks, Cointelegraph welcomes Adrian Zduńczyk, or as he is known on Twitter, CryptoBirb. He is the founder and CEO of The Birb Nest, a trading community platform. He is also a chartered market technician, chemical engineer, entrepreneur, mentor and influencer with over 655,000 followers on Twitter. We start things off
Silvergate Bank — a prominent lender to crypto firms — lost five partners on March 2 due to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital were some of the most notable crypto firms using Silvergate as their banking partner. However, the termination of service by Coinbase has