Chain News by Thebittimes.Com

According to the Bitcoin custodian, utilizing the USDC stablecoin will allow members to deposit and withdraw funds without fees. Bitcoin custodian and licensed private bank Xapo Bank has partnered with financial technology company Circle to integrate USD Coin (USDC) payment rails as an alternative to SWIFT. Payment rails refer to the infrastructure and technology used to facilitate the movement of funds between parties in a financial transaction. Payment rails come in many forms, including traditional bank wires, credit card networks, and blockchain-based platforms. We are pleased to be the first bank in the world to fully integrate with USDC, enabling our members to send and receive USDC from their US Dollar accounts, no fees charged. More: https://t.co/ep3wx0vLLn#XapoPrivateBank pic.twitter.com/Obed371oiT — Xapo Private Bank (@xapoprivatebank) March 20, 2023 Xapo Bank shared that the new feature allows its members to bypass the cumbersome and expensive SWIFT payment system th...

The fraudsters would normally exploit the smart contracts to allow for the approval of unauthorized transactions. According to the global payment provider Visa, 2022 became a record-breaking year for cryptocurrency thefts, with over $3 billion stolen in on-chain thefts. Cryptocurrency bridge services were a favored target for threat actors.  Visa published the biannual threats report on March 20. On 24 pages, the document contains data on all sorts of violations that occurred in the digital payments system globally last year — from plastic card fraud schemes to malware. A separate section is dedicated to cryptocurrency and digital platforms. Quick history of blockchain-based major thefts. Source: Investopedia It pays special attention to token bridges and their vulnerability. Commonly the fraudsters exploit a bridge service’s smart contracts to either forge new transactions or allow for the approval of unauthorized transactions. The total amount of funds, stolen via token bridges, t...

Around 573 trillion Shiba Inu tokens are currently in circulation making the 1 Cent dream a herculean task. To consider reaching $0.01, SHIB’s circulating supply needs to be under 1 trillion. Despite the constant burns, its supply remains high, and regularly sending tokens to the dead wallet is a tougher challenge. However, the number of investors ‘staking’ their Shiba Inu holdings is steadily rising in 2023. Also Read: Shiba Inu: 3 Classic Hits & Iconic Moments of SHIB Ever Recorded How Many Shiba Inu Tokens Are ‘Staked’ On ShibaSwap? Source: Twitter While the circulating supply remains high, the ‘staked’ tokens are on a steady rise in the decentralized platform ShibaSwap. According to recent data from ShibBurn, around 16 trillion Shiba Inu tokens are staked on ShibaSwap by investors. Also Read: Shiba Inu: You Can Now Become a SHIB Millionaire With Only $10 Source: ShibBurn.com To be precise, 15,913,918,545,644 SHIB tokens remain to be staked on the decentralized...

Pre-summit events such as the Talent Fair, the Startup Competition as well as the Investors Day made up the day on March 20 at the Paris Blockchain Week. Paris Blockchain Week 2023 (PBW) is about to kick off its ‍4th year as one of the world’s largest conferences tackling all things blockchain, crypto and Web3. The Event hosts over 10,000 attendees and was sold out the previous year. The Cointelegraph team is stationed in Paris for the latest news from the ground. This year’s edition of PBW has speakers from some of the industry’s biggest players, such as Consensys, Ledger, Animoca Brands, Alogrand, Reddit and more. The event consists of the main summit and Web3XP on all things Web3. The main themes of the summit and Web3XP include public policy, enterprise blockchain, open finance, Web3 art and investing in Web3 culture and entertainment, among others. It also has a dedicated Event for investors, a competition for startups, a hackathon and additional side events. Cointelegraph editor...

Get the weekly summary of crypto market Analysis , news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $1,186 trillion. Bitcoin is up by over 36% after an exhilarating week. Ethereum increased by almost 20% over the past seven days. XRP gained more than 12% in value this week. Almost all altcoins are trading in the green, with virtually no exception. The DeFi sector increased the total value of protocols (TVL) to around $50 billion. Crypto Trends 13 – 19 March 2023: Market Analysis and Performance The bulls are back with a bang in the crypto market. This week saw the much-anticipated US bailout of its crashing banks, which immediately rejuvenated all the financial markets. Following the insolvency of several financial organizations, most famously the Silicon Valley Bank, the US banks (under Fed’s umbrella) borrowed $300 billion. While some feared this move would cause interest rates to surge uncontrollably, t...

At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and cryptocurrencies have rebounded, a number of speculators suspect it’s because the U.S. central bank will now relax its monetary tightening policy. 4 Major Banks Bailed Out Following Silvergate Bank’s Collapse; Federal Reserve’s Easing Sparks Rebound in Cryptocurrencies and PMs Last week, market investors witnessed four significant bailouts to save depositors stemming from Silicon Valley Bank (SVB), Signature Bank (SBNY), Credit Suisse, and First Republic Bank. All four financial institutions were bailed out with billions of dollars after a financial contagion spread across the U.S. banking system following the fall of Silvergate Bank. The bailouts, combined wi...

The successive collapse of well-established financial institutions in the U.S. managed to instill fear among depositors and investors. At the moment, companies with their toes immersed in the banking space continue to experience funding strains. As a result, they’ve started leaning on the Fed eral Reserve for support. According to data published by the Fed , U.S. banks have borrowed a total sum of $164.8 billion from two Fed eral Reserve backstop facilities over the past week. JUST IN: US banks borrowed $164.8 billion from the Fed eral Reserve over the past week, a new record. — Watcher.Guru (@WatcherGuru) March 16, 2023 Also Read: First Republic Bank to get $30 Billion in Deposits From JP Morgan, Bank of America, Wells Fargo, and More Borrowings escalate to record highs As far as the breakdown is concerned, $152.85 billion was borrowed via the discount window or the traditional liquidity backstop for banks. The figure marked a new record high. For context, banks tog...