Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says
The federal banking regulator said Signature’s exposure to crypto industry deposits was also a contributing factor to its failure.Source
Balaji Srinivasan Explains $1M Bitcoin Bet Rationale, Says Could Take Longer Than 90 Days
“I may be wrong but I’m burning a million to tell you they’re printing trillions,” Srinivasan said, during CoinDesk’s Consensus 2023 conference.Source
‘Operation Choke Point 2.0’ Is SEC’s ‘Chemotherapy’ for $14B Ponzi Problem, BCB’s CEO Says
What happened to Custodia Bank is “tragic” under current administration’s efforts to de-bank crypto industry, BCB’s Oliver von Landsberg-Sadie said.Source
PayPal to Enable On-Chain Transfers From Venmo Accounts, Including to On-Chain Wallets
The feature will become available in May, PayPal’s Jose Fernandez da Ponte said on a panel at Consensus.Source
Genesis Bankruptcy Parties Agree to 30-Day Mediation Period
The process can start once the parties agree on a mediator and submits an order to the U.S. bankruptcy court.Source
Terra Classic Hopefuls Mull Revival of Failed UST Stablecoin
Community members are vying for a new model to improve revenues to sustain the peg, which includes token buybacks and fees paid on peg deviations.Source
Amid Bankruptcy, Core Scientific Signs Bitcoin Mining Hosting Contracts for Almost 18,000 Machines
The miner signed deals with three firms to host rigs in sites where the Celsius Mining fleet was recently unplugged from.Source
Epic Games Alum Mike Seavers Will Join Web3 Giant Yuga Labs as CTO
Mike Seavers will join the home of Bored Ape Yacht Club on May 22.Source
DeFi Protocol 0VIX Loses Nearly $2M in Flash-Loan Exploit
Decentralized finance (DeFi) protocol 0VIX has lost $2 million in a flash loan exploit, according to on-chain data.Source
ECB Probes Decentralized Settlement for Wholesale Financial Markets
Euro regulators are looking again at their centralized settlement systems in seeking to keep pace with digital innovation as they explore central bank digital currencies.Source