Staked Ether (ETH), liquid derivatives — it’s a whirlygig of smart contracts and big-brain blockchain jargon out there. Nonetheless, there are a few paths through the ETH staking wilderness. But remember, anon, as the poet Antonio Machado said, “There is no path, paths are made by walking” — which is a fancy way of saying
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Traders dumped risky assets following the crisis and failure of Silicon Valley Bank (SVB). The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week. The collapse of SVB led to a crisis in the crypto space with USD Coin (USDC) losing its peg to the U.S. dollar on reports that
United States authorities are working on “material action” over the weekend in an attempt to limit the ripple effect across the country’s banking system after the Silicon Valley Bank abruptly collapsed on March 10. According to a Reuters report citing unnamed sources, officials in the Joe Biden administration assessed the impact of the bank failure
After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why
Several USD Coin (USDC) holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a portion of USDC’s collateral is held at Silicon Valley Bank. However, not all of them had success during panic selling. One user paid over 2 million USDC to receive $0.05 of Tether
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Billionaire Bill Ackman has urged the United States government to “guarantee” all deposits held by Silicon Valley Bank (SVB) within the next “48 hours,” or it risks the “destruction” of many financial institutions. In a Mar. 11 tweet, Bill Ackman, CEO of hedge fund management firm Pershing Square, said a “giant sucking sound” will be
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law,
Decentralized websites rely on decentralized networks rather than centralized servers to preserve and verify the data’s integrity. Decentralized websites offer a more private, secure and censorship-resistant alternative to standard websites by utilizing peer-to-peer (P2P) networking, cryptography and blockchain. This article will explain how to host a decentralized website, and the benefits and challenges of decentralized
Learning the principles of finance is essential for managing personal and business finances, making informed investment decisions and understanding the economy. Here are five basic principles of finance that you should know. Time value of money This principle suggests that a dollar received today is worth more than a dollar received in the future due to
The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies. However, the recent depegging of Circle’s USD Coin (USDC) led Binance CEO Changpeng ‘CZ’ Zhao to believe that traditional
Layer-2 networks continue to gain momentum as the Ethereum ecosystem advances. For example, data from analytics provider Token Terminal found that layer-2 scaling solution Polygon had 313,457 daily active users as of Jan. 17, 2023 — a 30% increase in activity since October 2022. Moreover, the Polygon ecosystem recently announced the launch of its beta
The Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, uncertainty and doubt (FUD) across the crypto community, leading many to return to crypto roots — reviving the Bitcoin white paper published just weeks after the Lehman Brothers meltdown in 2008. It’s truly amazing how many people are scared that a couple banks
Top Stories This Week Silicon Valley Bank shut down by California regulator, holding over $5 billion for prominent crypto VCs Silicon Valley Bank (SVB) was shut down by California’s financial watchdog on March 10 after announcing a significant sale of assets and stocks aimed at raising additional capital. The California watchdog appointed the Federal Deposit
Almost immediately after USD Coin (USDC) issuer Circle revealed it could not withdraw $3.3 billion of its $40 billion reserves from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 peg. On March 9, Circle initiated a wire transfer to remove its funds from SVB as
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others
Some Aave users who accidentally sent tokens to the wrong address may soon be able to recover them, according to the text of a proposal passed by the Aave decentralized autonomous organization (DAO) on March 10. The proposal, called “Rescue Mission Phase 1 Long Executor,” authorizes Aave developers to upgrade smart contracts that have been mistakenly
The collapse of Silvergate, a crypto-friendly bank, will likely significantly impact the crypto ecosystem and its ties with the U.S. banking sector. Earlier this week, the parent company of Silvergate Bank announced plans to wind down operations and liquidate the bank. The announcement came after the crypto-friendly bank suffered $1 billion worth of losses in
Bitcoin (BTC) refused to let $20,000 support die for good on March 11 as the weekend opened to a battle for lost ground. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin shakes off USDC depeg Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $20,200 at the time of writing. A brief dip below the
💻 Join The VIP Cryptocurrency Course and Discord Group: https://www.joeparys.com/yt/crypto-course – Have you ever lost money or made major mistakes with cryptocurrency? So have I, and so has Jerry Banfield. In today’s video, we’re going to be sharing with you our biggest failures and how you can turn those into the best lessons possible to