CRYPTOGALACTIC

2023-03-13 17:12:03 Kiyosaki again urged to buy bitcoins

Robert Kiyosaki, the author of the business bestseller "Rich Dad, Poor Dad," once again urged investors and traders to study the risks of a "sick economy" and "hedge". He noted that people should actively invest in gold, silver and bitcoins (BTC).

Kiyosaki's reaction was prompted by the news that the Federal Reserve (Fed) would provide additional funding to help regional U.S. banks meet the needs of depositors. According to the writer, more counterfeit money, i.e., U.S. dollars (USD), will flood the economy. In his opinion, this is very bad, as it is already in a pre-crisis, if not recessionary state.

Previously, Kiyosaki has repeatedly explained that real assets with a definitive supply, such as gold, silver and bitcoin, are the best assets to invest in at this time. The entrepreneur said that the dollar bubble would burst in the next few years and predicted the collapse of the global economy. The businessman assured: the same hard times ahead as were experienced during the "Great Depression of 1929.

Meanwhile, over the past 24 hours, the cryptocurrency market has regained its positions. As of 12:45 Moscow time on March 13, 2023, the total capitalization of the industry jumped 7% to $1.05 trillion. Bitcoin (BTC) quotations rose 7.5% to $22,096.

Earlier, two major regional banks in the U.S. Silicon Valley Bank and Silvergate were on the verge of bankruptcy because of the inability to meet the demands of its depositors. Signature Bank (SBNY) and First Republic Bank suffered later. All of these institutions were cryptocurrency friendly. This caused a wave of sales in the cryptocurrency market, amid fears of liquidity problems due to the collapse of financial institutions. Open / Comment

2023-03-12 18:06:33 Regulators rush to sell Silicon Valley Bank (SVB) assets

Regulators are rushing to sell the assets of bankrupt Silicon Valley Bank (SVB) this weekend and hope to make 30% to 50% of uninsured deposits available for withdrawal Monday, Bloomberg reports.

Regulators closed SVB on Friday because of massive withdrawals from banks and the Federal Deposit Insurance Corp. acted as liquidator of the bank. The bank is popular with tech companies and startups.

More cash may become available if the FDIC can sell assets by Sunday evening before banking activity resumes Monday morning. As of Dec. 31, 2022, Silicon Valley Bank had about $209 billion in total assets and $175.4 billion in total deposits. Deposits of up to $250,000 are insured by the FDIC.

Silicon Valley Bank is the largest U.S. bank to collapse in the past decade. Last weekend's collapse sent shockwaves through the technology industry. The USDC Circle issuer has $3.3 billion in cash reserves for the stable coin stuck at Silicon Valley Bank. Open / Comment

2023-03-11 14:49:30 Is there any impact on Ripple from collapsed SVB

Ripple Chief Technology Officer David Schwartz said the company will release an official statement in response to inquiries about whether it had anything to do with the collapsed Silicon Valley Bank.

Ripple's CEO tweeted today that he would not be able to speak on the matter until after the firm releases an official statement.

"We're going to issue a statement," Schwartz wrote. "I can't say anything until we make it official."

As Schwartz pointed out in an earlier tweet, less than a month ago Forbes ranked the bank as the 20th best bank in the United States. It served as a major lender to the technology industry.

According to the Federal Deposit Insurance Corporation (FDIC), SVB had about $209 billion in assets at the end of last year. Earlier this week, however, it ran into problems that forced regulators to step in.

For context, it's worth mentioning that Ripple is a technology company also registered in Silicon Valley. Consequently, it is not surprising that investors might be concerned about the potential risk as companies in that region have favored SVB.

Circle, stable USD Coin (USDC) issuers today confirmed $3.3 billion in exposure to the collapsed bank. The ensuing panic has led to Stablecoin canceling its peg as USDC holders dump their holdings en masse for fear of potential insolvency. Circle said it is now seeking guidance from regulators on how to proceed.

The FDIC said insured depositors will have access to their assets by Monday, while uninsured depositors will be paid an advance dividend.

As reported today, Twitter CEO Elon Musk said he was interested in acquiring the bank so that Twitter could offer digital banking services. Notably, this would be in line with his vision of turning the microblogging platform into a behemoth in the financial sector. Open / Comment

2023-03-10 15:19:11 Marathon Digital closed its credits at Silvergate

On March 8, the company completed an early loan repayment, reducing its debt by $50 million, the statement said. The repaid debt also increased the company's bitcoin holdings by 3,132, as the cryptocurrency was held as collateral. The collateral has now been repaid.

"We are actively building a more robust balance sheet with more fiat and unlimited BTC. Given the current environment, we have decided that early repayment of the loan and a waiver of the line of credit is in the best interest of the firm," said Marathon Digital CFO Hugh Gallagher.

As a reminder, Silvergate previously announced the start of its liquidation process. The plan includes a full repayment of all deposits, after which the bank will be shut down. After Silvergate reported uncertainty about the viability of its business, many cryptocurrency exchanges and companies, such as Coinbase, Paxos, Circle and Gemini, began refusing to work with the bank.

In February, Marathon Digital reported the sale of 1,500 BTC. This is the first BTC sale in two years. Marathon Digital CEO Fred Thiel said the decision to sell bitcoins was not related to any company issues, but was made to grow the business and support business operations. Open / Comment

2023-03-09 18:21:37 Experts named the top 5 trends in the world of cryptocurrencies in 2023

Asia's largest cryptocurrency company VC HashKey Capital studied the potential of the cryptocurrency market and released a report on the sector. The company's researchers talked about 5 key trends, which, in their opinion, will be the most popular in 2023.

They told: among the technological innovations, the key attention will be paid to the next chain of updates in the Ethereum network. According to the experts, Shanghai and Cancun will be very discussed and popular. The success of their integration will play an important role in how the cryptocurrency sector will develop.

In addition, according to analysts, a lot of attention of industry participants will be focused on steaming products. Interest will be attracted by the development of this technology, as well as new products and platforms. In addition, modular blockchains and Layer 30 solutions are gaining popularity.

The fourth point in HashKey Capital's VC is non-scalable applications related to ZK (zero-disclosure proof) technology. Finally, the last aspect is the iteration of AA technology (smoothing) and MPC (confidential computing protocols).

Earlier edition of CryptоRu told that the expert of CoinDesk Sam Kessler, told the public about the key trends in the cryptocurrency sector this year. The expert assured that the community is very interested in zero-disclosure (ZK) proof mechanisms, the topic of rates and deriving benefits from maximum extractable value (MEV).

The analyst added that ZK crypto solutions will be the most popular and developers will receive huge sums as investments, as this technology is in great demand. It allows for the greatest level of decentralization, which is a hot topic for community members this year. Open / Comment

2023-03-08 18:59:57 Missouri lawmakers are going to pass a law to protect mining

Under the provisions of the Missouri Digital Asset Mining Protection Bill, state and political subdivisions must be prohibited from preventing digital asset mining nodes from launching at home. The bill limits the prohibitions the state will be able to impose on mining companies.

According to the bill's proponents, legal support for mining in Missouri would protect cryptocurrency mining businesses by ensuring that the state only imposes requirements on regulated data centers, without allowing state regulators to unilaterally change mining zoning requirements, without "adequate notice to all interested parties."

Since the beginning of the year, lawmakers in three U.S. states at once, Missouri, Mississippi and Montana, have approved bills in one form or another that support the cryptocurrency industry and legalize crypto mining in the home, while allowing mining companies to operate in zones approved for industrial use. Open / Comment

2023-03-07 17:59:20 ETH founder Vitalik Buterin launches memcoin sale

Ethereum co-founder Vitalik Buterin has caused concern in the cryptocurrency community with a memcoin sale. Analyst portal Lookonchain and cybersecurity company PeckShield report numerous transactions. The Ethereum co-founder sold 50 billion "MOPS" for 1.25 ETH (about $2,000), 10 billion "CULT" for 58 ETH (about $91,000) and 500 trillion "SHIK" for 380 ETH (about $600,000).

PeckShield Alert also reports via Twitter that since Buterin sold the coins, CULT (Cult DAO) has fallen 13.7%, and SHIK (Shikoku) has suffered even more, losing 95.8%. SHIK, affiliated with Vitalik Buterin, received about 164 ETH (about $260,000) and transferred 214 ETH (about $337,000) to EthDev. Buterin did not sell all of his CULT tokens. He still owns 10 billion CULT.

The cryptocurrency community on Twitter is greatly disappointed by Vitalik Buterin's actions. Since altcoins are mostly illiquid cryptocurrencies - the dump has a huge impact on low-value projects and the investors who own them. Many are unhappy that projects are sending free tokens to Buterin. Buterin's motives for selling altcoins are still unknown. Open / Comment

2023-03-04 18:20:08 Details of CBDC testing in India

Representatives of the Reserve Bank of India (RBI) said they are evaluating the potential of the central bank's digital currency (CBDC) for cross-border transactions and linking with legacy systems in other countries. The recently launched e-rupi has been tested for offline functionality. RBI chief executive Ajay Kumar Choudhary said.

Talking to CNBC-TV18, the specialist stressed, "We are looking forward to private sector and financial technology participation in CBDC. We will see their contribution, especially in offline and cross-border transactions of the central bank's digital currency." He also added that CBDC will soon become a medium of exchange and it will need all the functions of physical currency as well as anonymity.

India's motivation for launching CBDC was to improve financial inclusion in the region and become a leader in the digital economy. Choudhary also said that CBDC's digital currency would be a replacement for all cryptocurrencies.

Earlier, on Feb. 21, 2023, India's national payment network expanded its services to Singapore. The integration of the UPI-PayNow service allowed citizens of these countries to quickly send money abroad.

Ajay Kumar Choudhary recalled that 4 major Indian banks - State Bank of India, Indian Overseas Bank, Indian Bank and ICICI Bank - will facilitate outbound money transfers. Axis Bank and DBS Bank India will facilitate incoming remittances, while Singapore's DBS Bank and Liquid Group will offer services to users in the region.

RBI is India's central bank and regulator. Earlier, on Nov. 1, 2022, it launched a wholesale digital rupee pilot and connected 50,000 users as well as 5,000 merchants for real-world testing. As of the end of last month,about 800,000 transactions worth $134 million had been made through wholesale CBDCs. Open / Comment

2023-03-03 19:44:38 Интересуешься что происходит с криптой, но устал искать информацию в разных местах?

НАШ КАНАЛ СПЕЦИАЛЬНО ДЛЯ ТЕБЯ! Вся информация в нашем канале

https://t.me/BIRGICRY Open / Comment

2023-03-03 17:55:31 Near introduced an operating system for blockchain

Near introduced an OS for blockchain developers. It is used to create decentralized interfaces.

The Near team unveiled bOS. This is an operating system for blockchain developers. A developer from any blockchain can use it.

In a blog post, the Near team explains: Blockchain OS (bOS) will be the entry point to the free Internet for developers and users. It will make navigating Web2 and Web3 easier. Developers will be able to identify and view open web interfaces on all networks.

The team is launching alpha.near.оrg - it will allow users to navigate Web3 seamlessly. Developers will begin creating interfaces in a single environment. They will be compatible with the selected blockchain. With the addition of compliant interfaces to the technology stack, Near will become the Blockchain Operating System. Open / Comment