Bitcoin Financial News

Disclaimer: The Industry Talk section features insights from crypto industry players and is not a part of the editorial content of Cryptonews.com.

The United States Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks not to support any crypto services.

Amid all the chaos around multiple bank runs in the United States, Cathie Wood, CEO of asset management firm Ark Invest, said cryptocurrencies acted as safe haven amid the ongoing banking crisis in the US. She blamed the recent downfall of the likes of Silicon Valley Bank (SVB), Signature and others on the Fed’s policy failure. 

The cryptocurrency market has been experiencing some fluctuations recently, with Bitcoin and Ethereum, the two most widely used cryptocurrencies, facing a slowdown. Bitcoin is currently being traded at $24,000, experiencing a slight drop from the previous day due to concerns over market liquidity. 

The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin (BTC), says Galaxy Digital founder and CEO Michael Novogratz.

A growing narrative amongst crypto and traditional asset class investors that Bitcoin might actually be a viable safe haven against potential turmoil in the traditional fiat-based fractional reserve banking system has helped propel the BTC to fresh multi-month highs versus its major altcoin peers this week.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

Bitcoin looks set to finish Wednesday’s session broadly unchanged in the mid-$24,000, handing market participants some much-needed time to catch their breath after a hectic seven days of price action. This time last week, Bitcoin had just dropped back under $22,000 for the first time in over three weeks, weighed alongside downside in US stocks amid concerns about Fed tightening.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion

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Bitcoin mixer – ChipMixer has been shut down by authorities, as per an announcement by Europol. The operation involved the collaboration of regulatory authorities from various countries. The operation also resulted in the seizure of four servers, over 1909.4 Bitcoins (BTC) – over $46.6 million (nearly EUR 44.2 million), and 7 TB of data.

Bitcoin (BTC) kept bears sweating near $25,000 on March 15 as encouraging macroeconomic data combined with concerns over banking crisis contagion.

An Argentinian bitcoiner and blockchain industry insider has claimed that Bitcoin (BTC) and crypto should not be equated – and has explained that BTC could one day surpass gold as a trading commodity.

Mintlayer, an open-source, Layer-2 solution for Bitcoin, has gotten the best from the Bitcoin (BTC) and Ethereum (ETH) ecosystems to make crypto operations efficient and secure. Its protocol allows batching transactions (even between different tokens), features a UTXO-based accounting system and uses Ethereum’s Access Control List for token security. By having complete support of Lightning Network, Mintlayer can scale its network assets limitlessly.

Bitcoin and other cryptocurrencies rallied on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and as cryptocurrency firm Circle assured investors its peg was secure. The U.S. Treasury and Federal Reserve announced a range of measures to stabilise the banking system and said depositors at SVB would have access to their deposits on Monday. The moves came as authorities took possession of New York-based Signature Bank, the second bank failure in a matter of days. Stablecoin USD Coin (USDC), which had lost its 1:1 dollar peg and hit an all-time low on Saturday on concerns over the exposures of Circle, the firm behind USDC, to Silicon Valley Bank, recovered. It was at $0.9917, closer to par and up from last week's lows around $0.88.

Bitcoin [BTC] continued its unprecedented bullish run and climbed above $26,000 as the United States Bureau of Labor Statistics released its February Consumer Price Index (CPI) data. According to the country’s fact-finding agency, the CPI dropped to 6% on a Year-on-Year (YoY) basis.

Bitcoin (BTC) is setting up a classic trading move, which could see it hit a giant $100,000, one analyst says.

The United States Securities and Exchange Commission has denied a proposal by investment manager VanEck for the creation of a spot Bitcoin trust, a financial product that would allow investors to trade Bitcoin on regulated exchanges. This marks the latest instance of the SEC denying every application for a spot Bitcoin trust, with almost 20 such applications having been filed over the last six years.

In a new emergency executive proposal , leading DeFi platform MakerDAO [MKR] has sought community approval to introduce a debt ceiling breaker for collateral assets used to mint its DAI stablecoin.

Bitcoin (BTC) received a substantial boost this week as United States inflation levels for February were in line with market expectations. On March 14, the BTC/USD pair surged to a 2023 peak at $26,550 after the news.

The cryptocurrency market has been volatile in recent weeks, with Bitcoin and Ethereum experiencing significant price swings. Traders and investors are closely monitoring the impact of macroeconomic data on digital asset prices. Today, all eyes are on the US Consumer Price Index (CPI) and Retail Sales figures, which are expected to provide insights into the strength of the US economy and inflationary pressures.