India's Supreme Court rejects cryptocurrency petition
India's Supreme Court has refused to consider a public interest lawsuit (PIL) aimed at establishing regulations and guidance frameworks for cryptocurrency transactions in India.
According to reports, judges led by India's Chief Justice (CJI) stated after hearing the appeal that the petitioners' demands were more legislative in nature.
Given the nature of the petition, judges JD Pardiwala and Manoj Misra rejected the request.
The Supreme Court noted that although the petitioners submitted a PIL calling for regulation and guidance on cryptocurrency and its transactions, their ultimate goal was to obtain bail.
Share2023-11-11 23:08:07
AiStrat Intelligent Quantitative Trading Investment Official Live!
AiStrat's Intelligent Quantitative Trading Investment will officially launch at 00:00 GMT-4 on August 1, 2023. This is a crucial step towards providing the most advanced and efficient trading solutions for the blockchain sector. With this launch, users will be able to customize their participation based on their preferences, presenting an excellent opportunity for increasing returns and multiplying wealth. AiStrat firmly believes in the transformative power of AI technology in the world of trading, with the goal of providing robust, efficient, and profitable trading solutions. AiStrat warmly invites all users to take part in this and looks forward to embarking on this exciting new journey together. Invest wisely, multiply your wealth, and let us redefine the future of trading together!
Share2023-08-01 14:53:30
FintraDAO The Innovative Financial Solutions and Decentralized Financial Platform
FintraDAO is a blockchain project revolutionizing decentralized finance (DeFi) with its innovative financial solutions. At its core, the project's native token, FDC, empowers users to actively participate in community governance and decision-making processes, while enjoying a range of rewarding mechanisms.
Within the FintraDAO ecosystem, Trade GDT stands as a cutting-edge smart trading technology, enabling seamless, secure, and efficient transactions using the power of blockchain. By leveraging smart contracts and advanced blockchain algorithms, Trade GDT ensures the highest standards of transaction security and reliability.
As a Web3-powered project, FintraDAO is at the forefront of the blockchain revolution, delivering unparalleled financial solutions and establishing a trusted, decentralized trading platform. Join us in shaping the future of finance. For more details, reach out to our official team at hello@fintradao.io.
Share2023-07-07 14:17:30
A Look at the Fed's Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking
Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of Wyoming, a financial institution that holds $1.08 for every dollar deposited by customers. Although there appears to be a need for such a bank after the collapse of three major U.S. banks, the Federal Reserve stated that board members have “heightened concerns” about institutions with plans to focus solely on a narrow sector. (Bitcoin.com)
Share2023-03-27 14:31:27
G7 Nations Set to Push for Stricter Cryptocurrency Regulations at Japan Summit in May
Officials from the Group of Seven (G7) leading industrial countries will discuss regulations on cryptocurrencies to improve transparency and consumer protection as part of preparations for the next meeting of the group in Hiroshima, Japan, in May, Kyodo News reported on Sunday. The group aims to take the lead in setting global standards for emerging digital asset industries, the report said. Cryptocurrency-related issues will also be a part of the upcoming G20 meeting of finance ministers and central bank governors set to take place in Washington D.C this April, according to Kyodo. (forkast)
Share2023-03-27 14:31:04
China State-Owned Banks Turn Crypto-Friendly in Hong Kong
A number of Chinese state-owned banks’ branches in Hong Kong have started offering services to local cryptocurrency companies, Bloomberg reported on Monday, as the city welcomes a growing list of cryptocurrency and digital asset firms looking to expand or relocate to the city. Local companies in the crypto industry have traditionally had difficulties setting up corporate bank accounts, and the moves of these state-owned lenders reflect China’s backing in trying to boost the digital asset industry in Hong Kong, according to the report. (forkast)
Share2023-03-27 14:30:26
First Citizens Snaps up Silicon Valley Bank — Branches Open Monday
North Carolina-based First Citizens Bank is set to acquire all deposits and loans of Silicon Valley Bank, according to a statement from the Federal Deposit and Insurance Corporation (FDIC). Under the agreement, 17 former branches of Silicon Valley Bank will open as First Citizens Bank and Trust Company on Monday, March 27, while all depositors of SVB will automatically become depositors of First Citizens Bank. "As of March 10, 2023, Silicon Valley Bridge Bank, National Association, had approximately $167 billion in total assets and about $119 billion in total deposits. Today’s transaction included the purchase of about $72 billion of Silicon Valley Bridge Bank, National Association’s assets at a discount of $16.5 billion," said the FDIC in a statement. (Cointelegraph)
Share2023-03-27 14:30:06
$4M 'Exit Scam' Suspected as Kokomo Finance Flies off Radar, Token Plunges
Optimism-based lending protocol Kokomo Finance has been suspected of a $4 million “exit scam” that has seen user funds plucked out from the platform via a smart contract loophole. Blockchain security firm CertiK alerted its followers to the “exit scam” in a March 26 Twitter post, noting that the Kokomo Finance (KOKO) token has plummeted 95% in value in a matter of minutes. CertiK also noted that Kokomo Finance removed all social media accounts immediately following the alleged rug pull too. (Cointelegraph)
Share2023-03-27 14:29:50
Crypto-Friendly SVB Acquired by First Citizens Bank at 99% Discount
First Citizens Bank acquires Silicon Valley Bank (SVB) for $500 million. The crypto-friendly Silicon Valley Bank bank was worth $40 billion a year ago, now it’s acquired at a 99% discount. First Citizens BancShares will take over $119 billion in deposits.
 
First Citizens BankShares holding company of First Citizens Bank was in advance talks to acquire Silicon Valley Bank from the Federal Deposit Insurance Corp (FDIC) on Monday. The news of First Citizens acquiring SVB calmed investors’ concerns about the credit crunch and broader systemic banking crisis.
 
The 17 Silicon Valley Bridge Bank, National Association branches will open as First–Citizens Bank & Trust Company on March 27, 2023, FDIC revealed in a new release. The FDIC also said First Citizens Bank & Trust Co will buy all of Silicon Valley Bank‘s deposits and loans from the FDIC.
 
Silicon Valley Bridge Bank had approximately $167 billion in total assets and about $119 billion in total deposits by March 10. The acquisition includes the purchase of about $72 billion of Silicon Valley Bridge Bank’s assets at a discount of $16.5 billion. Moreover, the FDIC will continue to remain a receiver of $90 billion in securities and other assets.
 
According to the FDIC, the cost of the failure of Silicon Valley Bank to its Deposit Insurance Fund (DIF) is nearly $20 billion. The exact cost will be revealed after the termination of the FDIC receivership.
 
Meanwhile, Bitcoin liquidity has dropped to a 10-month low. The liquidity represents how easy it is to buy and sell cryptocurrency. While the Bitcoin price has increased by over 70% since the beginning of the year, the current banking crisis, inflationary pressure, and uncertain macro environment resist BTC price at $28,000.
Share2023-03-27 14:29:25
Arbitrum TVL Soars 22% Weekly Following Much Anticipated ARB Airdrop
The total value locked in decentralized protocols on Ethereum’s popular layer-2 scaling solution – Arbitrum – is soaring. This comes shortly after the protocol released its much-anticipated ARB token through an airdrop to early adopters.
 
Data from DeFi Llama shows that the total locked value (TVL) in Arbitrum is up more than 22% during the past seven days alone. With this, Arbitrum is currently the fourth-largest network by means of TVL, with $2.18 billion, sitting right after Ethereum, Tron, and the BNB Chain. It also accounts for roughly 4.43% of the total value locked across all blockchains.
 
The ARB token itself is a governance tool, and the team distributed 11.62% of its total supply to early adopters who completed various tasks over the past years. In addition, 1.13% went to decentralized autonomous organizations (DAOs) that helped build applications on Arbitrum. At the time of this writing, ARB is trading at around $1.28 with a market capitalization of $1.62 billion, making it the 39th largest cryptocurrency by that metric.
Share2023-03-27 14:28:57
Gucci Joins Hands With the Company Behind the Bored Ape Yacht Club
Gucci is strengthening its relationship with Web3. On Monday, the luxury brand announced a multi-year partnership with Yuga Labs, the Web3 company behind several well-known NFT collections, including Bored Ape Yacht Club, Cryptopunks, Mebits, and Narrative NFT Project 10KTF.
 
It also runs the Otherside, a bored app-themed virtual world and game. The deal is meant to increase engagement between each company’s communities “by exploring the intersection between fashion and entertainment in the metaverse,” they said in a release.  
Share2023-03-27 14:27:51
Bitcoin Gains as Investors Diversify amid Worries About Banking System; U.S. Equity Futures Rise
Bitcoin and the other top 10 non-stablecoin cryptocurrencies opened the working week with gains in Monday morning trading in Asia, as investors seek to diversify portfolios amid banking turmoil and the Federal Reserve’s latest rate hike. Litecoin led the winners. U.S. equity futures rose this morning as authorities sought to reassure investors the financial system is sound following bank failures and sharp declines in some lender’s stocks. The total crypto market capitalization rose 1.34% in the past 24 hours to US$1.17 trillion. Over the last 24 hours, total trading volume dipped 4.67% to US$31.46 billion. (forkast)
Share2023-03-27 13:20:35
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