The financial regulatory body of the Netherlands intends to maintain tough attitude towards the Dutch digital assets sector despite looser European rules. The head of the agency overseeing the industry doesn’t think crypto is good news and highlights its flaws in an article. Head of Dutch Financial Authority Says Cryptos Are Difficult to Fathom, Vulnerable
Month: March 2023
Crypto derivatives exchange Deribit will soon launch Bitcoin (BTC) volatility futures, giving investors a direct way to measure and trade BTC market volatility. On March 17, Deribit introduced BTC DVOL futures — a derivatives contract built on the Deribit Bitcoin Volatility Index, which measures the implied volatility of the largest cryptocurrency. Deribit’s volatility gauge provides
The Swiss National Bank (SNB) and Switzerland’s financial regulator reportedly believe that the acquisition of investment bank Credit Suisse by UBS, Switzerland’s largest bank, is the “only option” to prevent a “collapse in confidence” in Credit Suisse. According to a March 18 Financial Times report citing three people familiar with the situation, Switzerland is preparing
Economist Peter Schiff has warned that the current financial crisis will be worse than in 2008. “Future rate hikes are now pointless,” he stressed, adding that any effect will be more than offset by the Fed’s quantitative easing. Peter Schiff’s Financial Crisis Warning Economist and gold bug Peter Schiff shared his outlook for the U.S.
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 recent attack that drained $197 million from Euler Finance was dubbed the biggest decentralized finance (DeFi) hack of 2023 so far. However, this may not hold for much longer as the hacker reportedly had a change of heart. On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address
Top Stories This Week Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees Sam Bankman-Fried (SBF) is seeking to use FTX’s corporate insurance policies to cover his legal expenses, according to a court filing on March 15. As per the filing, the policies provide “priority of payment” to insured individuals such as Bankman-Fried. The
The lawyer representing crypto entrepreneur Sam Bankman-Fried (SBF) in the ongoing FTX case will soon present a revised bail package to Judge Lewis Kaplan of the Southern District of New York. The move comes after Kaplan expressed displeasure about SBF’s use of encrypted-messaging apps and virtual private network (VPN) services while out on bail. Legal
Amidst the chaos in the U.S. banking sector, Elon Musk, the CEO of Tesla and owner of Twitter, has been critical of the country’s central bank. Musk insists that the U.S. Federal Reserve is operating with “way too much latency in their data,” and he insists that the central bank needs to drop the federal
The market capitalization of Bitcoin (BTC) has added $194 billion in 2023. Its 66% year-to-date (YTD) growth vastly outperforms top Wall Street bank stocks, particularly as fears of a global banking crisis are rising. BTC market cap daily performance chart. Source: TradingView Moreover, Bitcoin has decoupled from United States stocks for the first time in
What is the Howey test? The Howey test is a legal test used in the United States to determine whether a transaction qualifies as an investment contract and, thus, is considered a security under federal law. The test was established by the U.S. Supreme Court in SEC v. W.J. Howey Co. (1946), and it has
Representatives from the Federal Deposit Insurance Corporation and Federal Reserve will be testifying before the United States House Financial Services Commission in a newly announced hearing investigating the collapse of two major banks. In a March 17 notice, Representatives Maxine Waters and Patrick McHenry — the ranking member and chair of the committee, respectively —
Russian lawmakers have approved a draft law facilitating the implementation of the digital version of the national currency, the ruble. The legislation amends various other acts to introduce definitions and establish procedures related to the launch of the central bank digital currency. Russian State Duma Passes Digital Ruble Draft Law on First Reading The lower
Last week’s rapid collapse of Silvergate, Silicon Valley Bank (SVB) and Signature Bank has highlighted the fragility of the traditional banking sector while depriving crypto of its primary fiat on-ramps in the United States. Most observers agree that the collapse of SVB, like the one of Silvergate, was largely the result of unfavorable market conditions
If Ripple wins against the US Securities and Exchange Commission (SEC) in its legal battle, a relisting of the XRP token on the largest American crypto exchange Coinbase will be one of the biggest stories within the XRP community. In a new interview, Paul Grewal, Chief Legal Officer (CLO) at Coinbase has now spoken in
In cryptocurrency trading, a “buy wall” is a massive buy order, or multiple buy orders, around a particular price level. Conversely, a “sell wall” is a significant accumulation of sell orders at a given price level. Before understanding how buy and sell walls work, it is important to know what an order book and its
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