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What is Going on With the Federal Reserve Bailouts?

Here is our description of what is actually happening with the Federal Reserve bailing out banks.

Bitcoin (BTC)

Former Coinbase CTO Makes $2M Bet on Bitcoin’s Performance

Former Coinbase CTO, Balaji Srinivasan, bets $2M that coinbase will exceed $1M value within 90 days.

DeFi

MakerDAO Votes to Double Down on US Treasuries

MakerDAO, the decentralized organization behind the Maker protocol and its DAI stablecoin, voted to more than double its US Treasury holdings.

DeFi

Silicon Valley Bank Contagion has been Halted

Silicon Valley Bank has been bailed out of the contagion risk that was pending, what lessons can we learn from this?

Disgruntled FTX Customer Finds Shaq Hard to Sue

For at least the last month, Shaquille O'Neal has allegedly been evading lawyers trying to serve him FTX lawsuit papers.

DeFi

USDC Depegs as Silicon Valley Bank Contagion Spreads

Stablecoin USDC de-pegged after Circle admitted at least $3.3B of USDC's reserves are stuck in the insolvent Silicon Valley Bank.

DeFi

SQUID Token: A Double Dip Scam

The SQUID token rug pulled people --- then a fake law firm took people's money to pretend to sue them.

DeFi

Ukraine has Raised Over $200M in Cryptocurrency

Ukraine has raised over $200M for it's war effort via public cryptocurrency donations.

DeFi

CEX Services Bank Silvergate Suspends Crypto Services

Crypto services bank Silvergate announced that it's discontinuing its digital assets payment network, claiming the termination is a “risk-based decision.”

DeFi

Binance Targets Institutional Clients for Singapore Permit

Binance is reportedly making another attempt to get a crypto permit in Singapore, this time targeting institutional clients.

DeFi

Coinbase Launches Base: A New Era for Ethereum Layer-2 Networks

Coinbase is launching a new Ethereum Layer 2 called Base using the technology powering Optimism.

DeFi

Solana Network Slowed by New Software Bug

Last night, Solana network infrastructure operators encountered a software issue that almost froze all on-chain activity on the network.

DeFi

FTX Japan Customers Can Withdraw Deposits Via Liquid Japan

FTX Japan, a subsidiary of the now-bankrupt crypto exchange FTX, announced its customers can now withdraw their cryptocurrency and fiat currency.

NFT

Blur's Trading Volume Overtakes OpenSea After Airdrop

NFT marketplace Blur has overtaken industry giant OpenSea in trading volume following its BLUR token airdop and a price war.

DeFi

Hong Kong Will Lift Ban on Retail Crypto Trading

The Hong Kong Securities and Futures Commission (SFC) is set to lift the ban on retail investors trading cryptocurrencies.

DeFi

German Multinational Siemens Issues On-Chain Digital Bond

Siemens became one of the first German companies to issue a digital bond on a public blockchain.

Bitcoin (BTC)

China's Secret Bitcoin Stash: How the Government's Seizure of BTC Surpasses MicroStrategy Holdings

The Chinese government may hold a significantly larger amount of Bitcoin than MicroStrategy, one of the largest corporate holders of Bitcoin.

DeFi

SEC Charges Terra Founder Do Kwon with Securities Fraud

The SEC charged Terraform Labs and CEO Do Kwon with fraud, claiming that they executed a "crypto asset securities fraud."

DeFi

Swiss Firm Launches Token Pegged to BlackRock's CSPX ETF

Backed Finance launched bCSPX, a tokenized version of BlackRock's CSPX ETF that includes major US companies like Apple, Amazon, and Microsoft.

DeFi

Circle Calms Nerves in Crypto Market Amid Regulatory Concerns

Amid a flurry of regulatory action, Circle has calmed nerves with news that the SEC hasn't issued them a Wells notice.

Bitcoin (BTC)

El Salvador Plans to Open a Bitcoin Embassy in Houston

El Salvador’s plans to open a "Bitcoin Embassy" in Houston that will facilitate remittances in Bitcoin.

NFT

Bored Ape Owner Burns NFT on Ethereum, Moves It to Bitcoin

Bitcoin added NFT support, and now it has a Bored Ape on the network after Bored Ape #1626 was burned on Ethereum and transferred it to Bitcoin.

DeFi

Binance Outflows Top $800M in a Day on Bad BUSD News

Binance saw over $800M in net outflows over the last 24 hours following US regulatory action against stablecoin issuer Paxos for minting BUSD.

NFT

Microsoft Axes Its Metaverse Team, What Now?

Microsoft eliminated its Industrial Metaverse Team as part of their layoffs, leaving a big question about the future of their HoloLens.

DeFi

Stablecoin Wars: Circle Snitches on BUSD Issuer Paxos

The SEC and the NYDFS are coming after Paxos after Circle allegedly snitched to the regulators.