On March 12, Bitcoin futures traded 5.5% below regular spot exchanges, causing volatility in derivatives markets. The price of Bitcoin (BTC) increased by 14.4% between March 12-13 after it was confirmed that financial regulators had rescued depositors in the failing Silicon Valley Bank (SVB). The intraday high of $24,610 may not have lasted long, but...Continue Reading

Bitcoin futures on CME have traded 550,000 contracts since inception. On Mar. 13, American derivatives marketplace CME announced the launch of Bitcoin (BTC) futures event contracts. The exchange, which is fully regulated and has cleared administrative review, will henceforth facilitate cash-settled, daily expiring contracts tied to Bitcoin futures with a “lower-cost way for investors to...Continue Reading

Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures. Last week, another major quake shook crypto markets. Silvergate Bank — a crypto-fiat gateway network for financial institutions and a significant on-ramp for cryptocurrencies in the United States — shut down operations due to liquidity problems.  A couple...Continue Reading

Dozens of regional banks saw share price swings that triggered trading halts as banks of all sizes feel the impact of last week’s bank failures. Banks saw their share prices take a rollercoaster ride over the weekend and into March 13. Trading was temporarily halted for dozens of United States regional banks amid volatility and...Continue Reading

Christine Okike, a lawyer representing BlockFi at its bankruptcy hearing claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally. According to a lawyer representing the bankrupt crypto lender BlockFi Inc.,the company is in a stable financial position with access to ample cash reserves, despite having over $200 million...Continue Reading

The class-action suit was filed against Silicon Valley Bank, CEO Greg Becker and chief financial officer Daniel Beck. A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis. Multiple news outlets reported on March 13 that many Silicon Valley Bank shareholders...Continue Reading

“Regulators wanted to send a very strong anti-crypto message,” said former House of Representatives member and Signature Bank board member Barney Frank. Barney Frank, a former member of the United States House of Representatives, has reportedly suggested New York regulators closed the crypto-friendly Signature Bank as part of a seeming show of force. According to...Continue Reading

The company stated that it previously had a relationship with Signature but said it no longer has funds there. 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....Continue Reading

The banking crisis in the U.S. has led to aggressive buying in Bitcoin and select altcoins, which are nearing stiff overhead resistance levels. Three banks, Silvergate, Silicon Valley Bank and Signature collapsed within a span of a few days. That increased demand for United States government bonds, which sent the yield on the 2-year Treasury...Continue Reading

Coinbase assured users that their BUSD funds will remain accessible and that they will still be able to withdraw funds at any time. US-based cryptocurrency exchange Coinbase announced the suspension of trading for the Binance  USD (BUSD) stablecoin on March 13 via Twitter.  We have disabled trading for Binance USD (BUSD). Your BUSD funds will remain...Continue Reading