Ethereums value accretion narrative under duress after 19% drop in ETH DApp volumes

ETH price struggles to find reasons to rally after the networks DApp volumes drop and Ether languishes near the $2,250 support.

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41 firms join BIS Project Agora to advance unified ledger applications

The large private companies will work with seven central banks on improving structural inefficiencies in international transfers.

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XRP Whales Are Depositing To Exchanges: Price To Drop Further?

On-chain data shows the XRP whales have been making deposits to exchanges recently, something that could be bearish for the asset’s price. XRP Whales Have Made Several Large Moves In The Past Day According to data from the cryptocurrency transaction tracker service Whale Alert, several large moves have been spotted on the XRP network during [...]

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Hong Kongs Project Ensemble sandbox ready to test asset tokenization

The HKMAs project is gearing up for more testing after successful initial trials.

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Hong Kong Monetary Authority Reports 1.1% Increase in May 2024 Deposits

The Hong Kong Monetary Authority reported a 1.1% increase in total deposits for May 2024, with notable rises in both Hong Kong dollar and foreign currency deposits. (Read More)

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Hong Kong central bank forms community to explore asset tokenization

Regulators like HKMA and SFC united with local private sector firms like HSBC and HashKey to support the tokenization market in Hong Kong.

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Binance to Lose Euro Transfers as Paysafe Drops Support

Paysafe will discontinue support for bank transfers of euros to and from Binance, the payments provider announced. The news comes when the world’s largest cryptocurrency exchange finds itself under pressure from regulators and banking partners in Europe and elsewhere. Paysafe to Stop Euro Deposits and Withdrawals for Binance Crypto exchange Binance, the global leader in [...]

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Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts

A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro Accounts Expected to Drop Further, Requests for Yuan

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Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures

On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC), released a similar report on Signature Bank’s collapse and [...]

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First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles

According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding purchasing First Republic after the bank’s stocks dropped more than 50% on Friday. FDIC [...]

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FTX Co-Founder SBF and Inner Circle Accused of Lavish Spending and Fraud in Latest Bankruptcy Report

On Monday, FTX released a second investigative report accusing co-founder Sam Bankman-Fried and senior executives of commingling customer deposits and corporate funds and misusing them. The report alleges that they spent $243 million on luxury residential real estate for senior staff and family members, as well as on commercial properties. FTX Execs Accused of $243 [...]

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Makerdao Considers Significant DAI Savings Rate Hike: 3.3% on the Horizon, If Vote Passes

The Makerdao collective is currently immersed in a discussion about the potential rise of the DAI stablecoin’s savings rate to 3.3%. This suggestion was introduced by Block Analitica and revealed to the community on May 26 under the title “Stability Scope Parameter Changes #2.” Block Analitica Proposes Raising DSR to 3.3% Risk and intelligence firm

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Experts Predict More Bank Failures in the US Following Interest Rate Hike and Unsettled Banking Crisis

After the recent bank collapses in the U.S., a number of people believe that more failures are coming following the Federal Reserve’s increase of the benchmark interest rate by 25 basis points (bps). American journalist Charles Gasparino insists that Wall Street’s “low-rate” junkies are ignoring the U.S. banking crisis. Quill Intelligence CEO Danielle DiMartino Booth [...]

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Is Multichain guilty of a rugpull? Binance suspends deposits

The MultiChain protocol and its native token, the MULTI, have been in the limelight in today’s crypto news following reports of transactions on the Multichain protocol being delayed across multiple cross-chain bridges without a clear explanation. This has led to a huge sell-off that resulted in the MULTI price dropping by 20% at press time. …

<p>The post Is Multichain guilty of a rugpull? Binance suspends deposits first appeared on CCNC | Cryptocurrency Newscast.</p>

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Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’

Billionaire Bill Ackman has warned that the U.S. economy is “heading for a train wreck” if the government allows the current banking crisis to continue. “Trust and confidence are earned over many years, but can be wiped out in a few days,” he said. “Hopefully, our regulators will get this right.” Bill Ackman’s Warning Billionaire [...]

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Third round of ETH withdrawals sees roughly equal amounts of deposits: Data

Another chunk of ETH has been withdrawn due to Kraken, but deposits going onto the network have almost matched them.

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Kraken Halts ACH Deposits and Withdrawals via Silvergate

Kraken has notified its users that it will no longer support ACH deposits and withdrawals via Silvergate starting from March 27, citing difficulties with the automated clearing house. Kraken has advised its users to use alternative funding options until ACH funding is available again. (Read More)

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Crypto Firms Face Turmoil as Prime Trust Fallout Causes Service Disruptions and Concerns

After the Bitgo acquisition deal to purchase Prime Trust fell through, it seems that crypto firms that have worked with the custodian are experiencing problems. On Thursday, Seattle-based fintech startup Stably announced the need to “temporarily pause” certain services and operations. According to reports, the bitcoin payments platform, Strike, is also encountering difficulties and has

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Binance US Restores USD Withdrawals, Suggests Users Withdraw or Spend Their Dollars

The U.S. subsidiary of the world’s largest crypto exchange, Binance, announced it has resolved the issues with U.S. dollar (USD) withdrawals. The trading platform, which recently averted an asset freeze sought by the United States Securities and Exchange Commission (SEC), informed customers, however, that withdrawal services are likely to be discontinued again. Binance US May [...]

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Nigerian Social Payments Platform Bundle Ceases Crypto Exchange Operations

The Nigerian social payments platform Bundle said on July 20 it was shutting down its crypto exchange services business and will now focus on its peer-to-peer platform known as Cashlink. Bundle said users must withdraw or convert their digital assets to the stablecoin tether on or before Aug. 30. Bundle Says Transition Period Is to [...]

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