Summary: On Friday, Matter Labs launched zkSync Era for users, beating other zero-knowledge developers like Polygon to the punch. The project already opened its so-called “first ZK Ethereum Virtual Machine-compatible” product to developers a month ago. Matter Labs CEO Alex Gluchowski cautioned users to “take it carefully” and not “just ape into it” as the
Month: March 2023
The European stock markets fell on March 24 on renewed fears that the banking crisis could rear its ugly head once again. The latest selling was triggered after Deutsche Bank’s credit default swaps, which offer protection to the buyer against specific risks, soared on March 23 without any known catalyst. That pulled down the shares
MakerDAO, the decentralized autonomous organization (DAO) that governs the DAI stablecoin, has voted overwhelmingly to keep USD Coin (USDC) as the primary collateral for DAI. An alternative proposal to “diversify” collateral into Gemini U.S. Dollar (GUSD) and U.S. Dollar Paxos (USDP) has been rejected in a 20% to 79% vote, according to the proposal’s official
Deutsche WertpapierService Bank (dwpbank), which offers securities processing to around 1,200 banks in Germany, is creating a new platform, wpNex, that will offer Bitcoin (BTC) to all of its affiliates’ retail customers in the second half of this year. The new service will feature crypto accounts alongside bank customers’ other accounts and will not require
A nonfungible token (NFT) from the CryptoPunks collection worth 77 Ether (ETH) was sent to a burn address to be permanently destroyed. However, the collector’s intent was just to borrow some money against it to buy another NFT. NFT collector Brandon Riley added CryptoPunk #685 to his collection on March 13 by paying 77 ETH,
With Coinbase seemingly on the verge of a court battle with the Securities and Exchange Commission (SEC), the firm has emphasized that the U.S. government’s hawkish approach to crypto regulation has “left a vacuum that other countries are eager to fill.’ The SEC issued Coinbase a wells notice on March 22 outlining that SEC staff
The US Securities and Exchange Commission (SEC) has filed its response to Ripple Labs’ letters regarding supplemental authority in the Bittner and Voyager cases. As Bitcoinist reported, the Voyager judge found strong words for the unclear regulatory situation of the US crypto industry. Ripple filed the decision as a supporting argument for its fair notice
Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and follows losses in U.S. banks on Thursday. Deutsche Bank Credit Default Swaps Jump to 4-Year
Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banking sector from “stable” to “negative.” In a recent update on Thursday, the company stated that there is still a risk to the U.S. economy. The managing director of credit strategy at Moody’s explained that the country “will be unable to curtail
Billionaire Jeffrey Gundlach, aka the “Bond King,” has predicted that the Federal Reserve will be cutting interest rates substantially soon. “Red alert recession signals,” he added, noting that all U.S. Treasury yields two years and out are “well below the fed funds rate.” Doubleline CEO on Fed Rate Cuts and Recession Jeffrey Gundlach, chief executive
On March 23, Bitcoin (BTC) price recovered the $28,000 support after a brief correction below $27,000. The movement closely tracked the traditional financial sector, particularly the tech-heavy Nasdaq Index, which gained 2.1% as Bitcoin surpassed the $28,000 threshold. On March 22, the Federal Reserve raised its benchmark interest rate by 0.25%, but hinted that it
Take, for example, the recent issues that Circle-issued USD Coin (USDC) faced when it depegged from the U.S. dollar following Silicon Valley Bank’s collapse. Two weeks later, Mastercard boldly integrated the stablecoin into its infrastructure in the Asia-Pacific region, allowing users to spend USDC through its network. It’s happening, folks! And let’s not forget about
Hacked vanity addresses have reportedly been used to steal $500,000 worth of tokens from layer-2 scaling solution Arbitrum’s March 23 airdrop. A vanity address is a customized cryptocurrency address containing specific words or phrases chosen by the user, aiming to make them more personal and easily identifiable. However, the safety of vanity addresses is questionable. The
Welcome to Finance Redefined, your weekly dose of essential decentralized finance (DeFi) insights — a newsletter crafted to bring you significant developments over the last week. The much-awaited airdrop of layer-2 scalability protocol Arbitrum has dominated headlines throughout the week. The hype around the token has led to exploits, fake airdrops and even a significant
The banking crisis could be the spark that will kick off the next crypto bull run, in which Bitcoin (BTC) is likely to outperform all other cryptos, according to Mike McGlone, the senior commodity strategist at Bloomberg Intelligence. Following the collapse of major banks such as Silicon Valley Bank and Credit Suisse, confidence in traditional
Bitcoin (BTC) diced with $28,000 at the March 24 Wall Street open as fresh banking woes failed to provide a further boost to crypto. BTC/USD 1-hour candle chart (Binance). Source: TradingView Traders stay optimistic on BTC long-term trend Data from Cointelegraph Markets Pro and TradingView showed BTC/USD losing momentum to hit daily lows of $28,001
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