Bitcoin leaps up as the US shows support for the banking sector

Markets

The crypto market cap surpassed $1 trillion after the Federal Reserve, U.S. Treasury, and FDIC assured depositors of Silicon Valley and Signature Bank that they could withdraw their funds on Monday. Bitcoin and Ethereum were 8% up, with Cardano, Polygon, Solana, Litecoin, and Avalanche all up more than 10%. The joint statement by the U.S. financial institutions brought some relief to the crypto market amid the Silvergate Bank, SVB's bank, and Signature Bank troubles.

30 March

Tech

yesterday

Telegram now supports Tether (USDT) payments on the Tron network, expanding payment capabilities for buying and selling crypto. With USDT-TRON added to the wallet function, Telegram now supports Bitcoin, The Open Network token, and USDT. Users can directly send USDT to friends with no transaction fees. Telegram's integration competes with Twitter's support for tips in Bitcoin and Ethereum.

23 March

Markets

7 days ago

A $3.25 acquisition deal between UBS group and the troubled banking lender Credit Suisse was finally closed on March 19, triggering a massive crypto rally. Bitcoin went up to $28,400, and Ethereum jumped past $1,800, followed by other altcoins.

Policy

8 days ago

The Financial Supervisory Commission (FSC) of Taiwan, the country’s top financial regulator, will now also oversee the crypto industry, according to Monday's announcement.

22 March

Tech

8 days ago

The long-awaited Shanghai upgrade will come to the Ethereum mainnet on April 12. The date for the fork that will finally allow staked ETH withdrawals was set during the All Core Developers Execution Layer (ACDE) meeting on Thursday.

Tech

9 days ago

Microsoft is testing an Ethereum-based #cryptocurrency wallet in its Edge web browser. The feature will enable users to store and transact ETH and ETH-based tokens in a non-custodial way.

21 March

Business

9 days ago

Enterprise software giant, Salesforce has partnered with Polygon, a Layer-2 blockchain platform, for an NFT-based loyalty program.

20 March

Business

10 days ago

Anchorage Digital cuts 20% of staff due to regulatory uncertainty. The crypto bank cites macroeconomic challenges and market volatility as factors contributing to its decision to lay off 75 employees.

17 March

Policy

14 days ago

The U.S. Treasury Department has proposed a 30% excise tax on cryptocurrency miners' electricity usage, which will be introduced in 10% annual stages from Dec. 31, 2023. The proposal also eliminates tax-deductible losses related to the wash-trading of crypto tokens. The aim is to reduce negative environmental effects and increase energy prices.

Markets

14 days ago

USD Coin, the stablecoin from Circle, is recovering to its $1 peg as CEO Jeremy Allaire assures the public that their reserves are safe and new banking partners are secured.

Markets

14 days ago

Bitcoin leaps up as the US shows support for the banking sector

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