Bitcoin News and Finance: What You Need to Know

The British government and the central bank, the Bank of England, have facilitated a private sale of Silicon Valley Bank UK to HSBC, according to Chancellor of the Exchequer Jeremy Hunt. He stressed that “Deposits will be protected, with no taxpayer support.” British Government Announces Acquisition of Silicon Valley Bank UK by HSBC HSBC has acquired Silicon Valley Bank UK (SVB UK), the British subsidiary of Silicon Valley Bank (SVB) that was shut down by U.S. regulators on Friday. British Chancellor of the Exchequer Jeremy Hunt tweeted Monday: This morning, the government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC. Deposits will be protected, with no taxpayer support. In a filing with the London Stock Exchange Monday, HSBC stated that its U.K. subsidiary, HSBC UK Bank plc, is acquiring Silicon Valley Bank UK Ltd. for £1 ($1.22). The filing details that as of March 10, “SVB UK had loans of around £5.5bn and deposits of around £6.7bn.” M...

The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and Treasury Department. Details on the Creation of Full-Service FDIC-Operated Bridge Banks Customers who utilized Silicon Valley Bank (SVB) and Signature Bank (SBNY) will have access to their funds on Monday, following the FDIC’s actions to transform both banks into newly created full-service FDIC-operated bridge banks. SVB will now be known as “ Silicon Valley Bank N.A. ,” while Signature’s new name is “ Signature Bridge Bank N.A. ” Both bridge banks are chartered national banks operated by the FDIC with the goal of stabilizing the institutions and implementing an orderly resolution. Regarding both U.S. banks, depositors and borrowers will...

Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news. Bitcoin Bitcoin ( BTC ) rose back above $22,000 on Monday, as the U.S. Treasury confirmed it will backstop depositors’ funds. This will be for both Silicon Valley Bank and Signature Bank, which become the second and third biggest banking failures in U.S. history. Following a low of $20,475.60 on Sunday, BTC /USD surged to an intraday high of $22,728.52 to start the week. Bitcoin chart by TradingView The rally comes as bitcoin moved back above a floor at $20,000 on Saturday, surging to a ten-day high on Monday. One of the catalysts of this move was a breakout of the 14-day relative strength index (RSI), which rose past a ceiling at 44.00. As of writing, the index is tracking at 47.89, whic...

Binance, the cryptocurrency exchange, has launched a prepaid cryptocurrency card in Colombia, expanding its reach in Latam. The card, which will allow customers with their identity verified to make payments with crypto, establishes the country as one of the leading markets for the exchange in Latam behind Brazil and Argentina. Binance Announces Crypto Prepaid Card in Partnership With Movii Binance, the biggest cryptocurrency exchange in volumes traded, is making moves to expand its services in Colombia. The company announced the launch of a new prepaid cryptocurrency-linked card, that will allow users to pay with crypto in all merchants accepting standard debit and credit cards. The product is part of a partnership with Movii, a Colombian neobank that also issues its own Mastercard card. Among the currencies supported by the card will be BNB , BTC , ETH , ADA , DOT, SOL, SHIB, XRP , MATIC, LINK, and other stablecoins, with the user being able to configure which currency will be sp...

The FBI has issued a public service announcement (PSA) warning on the utilization of play-to-earn games as part of a scheme to defraud users of funds stored in the form of cryptocurrency. Criminals are introducing victims to this kind of game and then use malware to extract the funds from cryptocurrency wallets linked to the game, according to the bureau. FBI Issues PSA on Play to Earn Games Crypto Scheme The Federal Bureau of Investigation (FBI) is warning about the introduction of play-to-earn games in schemes destined to steal funds from unsuspecting users. On March 9, the institution issued a PSA on this, explaining how criminals are luring users to put funds behind play-to-earn games. According to the PSA, criminals establish a relationship with the selected victims, in order to gain their trust. After this, they lure them to participate in online play-to-earn games, that offer rewards for their actions, and to put funds in a cryptocurrency wallet as a form of staking mechani...

PRESS RELEASE. T aipei, March 13, 2023 – Bloxmith, the player-first Web3 gaming studio, today announced that the open beta for Raiders Rumble , its unique 1v1 squad battler game for mobile powered by the Flow blockchain, is now available for download on Google Play and Apple App Store . Raiders Rumble challenges players to apply fast-paced strategic decision making in countering the moves of their opponents. Built as a strategic esports game for the masses, it features a daily rotation of tournament modes where the top 50 percent of participants can win in-game items or RUMB tokens, Raiders Rumble’s project token. Furthermore, players do not need a crypto wallet or digital collectibles (NFTs) to start playing and enjoying the game. To maintain competitive integrity, digital collectibles in Raiders Rumble do not provide any in-battle advantage, though they have several other unique features that make them highly valued by collectors. “For our first game, we wanted to pioneer a new...