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According to a court document filed on March 31, 2023, regarding the sentencing of James Zhong, who stole over 50,000 bitcoin from the Silk Road marketplace, the U.S. government plans to liquidate 41,490 bitcoin “over the course of this calendar year.” U.S. Government Discloses Strategy for Selling Confiscated Bitcoin The U.S. government, one of the … Read more
The CFTC lawsuit against Binance could prove to be the beginning of the end for the crypto exchange in the United States, according to many market pundits. Go to Source Powered by WPeMatico
With a focus on sovereignty and creating an alternative to traditional financial systems, how is the crypto community reacting to government intervention in the recent bank crisis? Go to Source Powered by WPeMatico
SVB’s epic failure occurred “at a bank that happened to deal with crypto customers” but “was not a crypto-induced problem,” said Mick Mulvaney. Go to Source Powered by WPeMatico
U.S. Treasury Secretary Janet Yellen says the federal government could guarantee all deposits of smaller banks if they “suffer deposit runs that pose the risk of contagion.” The government recently protected all deposits of Silicon Valley Bank and Signature Bank after they failed. U.S. Government Ready to Guarantee More Deposits if Needed U.S. Treasury Secretary … Read more
The invitation was mediated by former CFTC Commissioner Mark Wetjen, who joined FTX US as the Head of Policy and Regulatory Strategy in Nov. 2021. Go to Source Powered by WPeMatico
Finding the right balance between regulations and banking institutions is important for Schiff, considering that Puerto Rico regulators closed down Schiff’s bank due to non-compliance. Go to Source Powered by WPeMatico
The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal … Read more
The company disclosed that it has approximately $142 million in cash deposits at Signature Bridge Bank, which was set up by the FDIC after the shutdown of Signature Bank. Go to Source Powered by WPeMatico
On March 1, 2023, Nellie Liang, undersecretary for domestic finance at the U.S. Treasury, delivered a speech to the Atlantic Council in Washington concerning the subject of central bank digital currencies (CBDCs). Liang detailed during her speech that a CBDC is one of several options for “upgrading the legacy capabilities of central bank money,” and … Read more
