Crypto firms including Coinbase, Paxos, and Celsius have reported funds tied up with Signature Bank, which was shut down by New York regulators due to concerns about systemic risk. While some firms expect to recover their funds in full, others have disclosed only that they had exposure to the bank. Other firms in the crypto […]

Nissan has filed four new Web3-related trademarks in the US and is experimenting with auto sales in the metaverse in Japan. The trademarks cover its Infiniti, Nismo, and Nissan brands and include plans for virtual goods and a nonfungible token (NFT) marketplace. Nissan Japan is conducting a three-month “demonstration experiment” of its virtual store “Nissan […]

A solo Bitcoin miner successfully mined the 780,112th block in the Bitcoin blockchain, earning a block reward of 6.25 BTC worth over $150,000. The miner was able to produce a valid hash after just two days of mining, a rare occurrence that typically takes solo miners months to achieve. The miner may have rented hashing […]

Binance co-founder and CEO, Changpeng Zhao, announced on March 13 that the exchange will be converting the remaining $1 billion funds in its Industry Recovery Initiative to native crypto amid concerns surrounding stablecoins. This decision was made following the depegging of the USD Coin (USDC) stablecoin caused by the failure of three major crypto-friendly banks […]

The closure of three major American banks that serve cryptocurrency firms, including Silicon Valley Bank and Signature Bank, has sparked debate within the cryptocurrency community. The closure of Silicon Valley Bank, which held over $3.3 billion of USD Coin issuer Circle’s $40 billion reserves, has caused particular concern. As a result, the cryptocurrency ecosystem is […]

Euler Finance, an Ethereum-based noncustodial lending protocol, suffered a flash loan attack on March 13, resulting in the loss of millions in Dai, USD Coin, staked Ether, and wrapped Bitcoin. The attacker stole nearly $196 million in multiple transactions, making it the largest hack of 2023. On-chain data indicates that the attack is related to […]

Privacy-oriented blockchain platform Aztec is set to shut down Aztec Connect, its network’s privacy infrastructure serving as the encryption layer for Ethereum. Aztec will no longer run a sequencer from March 2024, and the current system will no longer publish rollup blocks processing Aztec Connect transactions. (Read More)

Circle has partnered with Cross River Bank for USDC production and redemption, as well as expanded relationships with other banking partners like BNY Mellon. The USDC stablecoin recently experienced a peg-breaking incident but has since recovered. (Read More)

Okcoin has paused its U.S. dollar wire and ACH deposits due to the regulatory intervention in Signature Bank, Okcoin’s primary partner for customer transactions in dollars. The suspension extends to over-the-counter services, credit card transactions, and trading USD-crypto trading pairs. However, all corporate and customer funds are safe, and USD withdrawal is not affected. The […]

The bitcoin price rocketing to $24,000 amidst the banking crisis is reflecting the world’s need for a sound money alternative. Bitcoin remained resilient in the face of a very hesitant market Monday morning, surging past $24,000. Despite fears that the cryptocurrency industry is being cut off from banking, bitcoin is outperforming the S&P 500, which, […]