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” Gemini says no funds at Signature Bank backing GUSD “ Crypto exchange Gemini had no funds at Signature Bank, and its Gemini US Dollar (GUSD) stablecoin was not backed by any deposits at the failed bank, according to a March 13 official tweet from the company. 1/ It’s very sad to hear the news…
” Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ “ The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging…
” South Dakota gov vetoes bill excluding crypto from definition of ‘money’ “ Kristi Noem, the governor of South Dakota, has used her authority to veto legislation aimed at changing the definition of money to exclude cryptocurrencies. In a March 9 notice to South Dakota house speaker Hugh Bartels, Noem said she had vetoed House…
” Banks with crypto services require new Anti-Money Laundering capabilities “ The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs). As mainstream financial institutions begin to provide services related to Web3, crypto and…
” Is the IMF shutting the door prematurely on Bitcoin as legal tender? “ There’s been little sunlight this crypto winter, so it may seem odd to present the “Bitcoin as legal tender” argument again. That is, will or should any country — other than El Salvador and the Central African Republic (CAR), which have…
” Naira redesign no more: President’s directive canned by Nigerian supreme court “ The supreme court of Nigeria has ruled that the old N200, N500, and N1,000 naira notes remain in circulation till Dec. 31, 2023, effectively nullifying the naira redesign previously announced by Nigerian President Muhammadu Buhari. The introduction of redesign sought to phase…
” Binance recommends P2P as Ukraine suspends hryvnia use on crypto exchanges “ Ukraine temporarily suspended the use of its national currency, the hryvnia, via banking cards for fiat deposits and withdrawals on crypto exchanges. While the move immediately impacted how investors move funds to and from exchanges, Binance reminded users about how peer-to-peer (P2P)…
” Crypto transaction success rate hinges on user location: Report “ The crypto community is continually looking for ways to bridge the gap between traditional finance (TradFi) and fiat currencies with decentralized financial (DeFi) tools. Crypto onramp platforms are a primary way users are able to cross between these two financial ecosystems. However, a new…
” Ray Dalio says Bitcoin is not the answer, the community responds “ While billionaire Ray Dalio believes that fiat is in jeopardy, he also thinks that neither Bitcoin (BTC) nor stablecoins are the answer. In response, crypto community members took to Twitter to express their opinion on the topic. In a recent interview on…