Month: May 2023

OpenCover’s DeFi Insurance Report Boosts TMS Network’s (TMSN) Credibility, Leaving Litecoin (LTC) And Cardano (ADA) to Reevaluate Strategies

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OpenCover, one of the top data providers on decentralized finance (Defi), has highlighted in a report that the incursion of self-custodian features in Defi has proved to be a lasting solution to the security of digital assets. The report also mentioned the importance of risk management tools in the space. Taking a look at the … Read more

Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss

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On May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of … Read more

Lawyer Expects SEC to Lose if It Sues Coinbase Due to ‘Fatal Flaw’ of Gary Gensler’s Own Making

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A lawyer has explained why the U.S. Securities and Exchange Commission (SEC) will likely lose if the regulator takes crypto exchange Coinbase to court over alleged securities law violations. “The problem is entirely of Gary Gensler’s own making,” he stressed. Lawyer Expects SEC to Lose Against Coinbase in Court Lawyer James Murphy explained in a … Read more

Billionaire Bill Ackman on US Banking Crisis: We Are Running Out of Time to Fix This Problem

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Billionaire Bill Ackman has warned that “We are running out of time” to fix the problem that led to the collapses of regional banks. “How many more unnecessary bank failures do we need to watch before the FDIC, U.S. Treasury, and our government wake up?” he stressed, adding that “We need a systemwide deposit guarantee … Read more

Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow

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The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. “Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” according to the Fed’s Division of Supervision and Regulation. 722 Banks … Read more

UK High Court Rules to Set Aside Interim Proprietary Injunction Against Binance

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A high court in the United Kingdom recently set aside a proprietary injunction that was issued against the crypto exchange Binance. In its application challenging the injunction, Binance said the action had been taken without notice. Binance also said it could not comply with the injunction since it was granted after the fraudulently acquired crypto … Read more