Bitcoin News and Finance: What You Need to Know

The Central Bank of Russia has added crypto asset holdings of households to its survey of consumer finances. The statistics reveal that Russian families keep more money in cryptocurrency wallets than in gold investment accounts or mutual funds. Russia’s Central Bank Evaluates Cryptocurrency Holdings of Russian Households The Central Bank of the Russian Federation (CBR) has published estimates about the digital assets held by the population in the newest edition of its report on household finances. The survey is conducted once every two years since 2013 and the latest results covering 2022 were released on Friday. According to the document published by the monetary authority, the median average of the fiat value of crypto holdings, among Russian households that possess such assets, is 17,500 rubles (around $225 at current exchange rates). Median means that over half of these families, or people who live together and share the same budget, have more crypto funds than the cited thres...

On Sunday, Saudi Arabia and several major oil producers announced their plan to cut oil production by 1.15 million barrels per day, starting in May and continuing until the end of 2023. According to the Saudi Energy Ministry, the move was coordinated with some members of the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members as a “precautionary measure” to stabilize the oil market. Geopolitical Implications: The Move to Cut Oil Production Comes Amid Shifting Alliances and Tensions Between Major Players This weekend, Saudi Arabia and several major oil producers, including Russia, the United Arab Emirates (UAE), Iraq, Kuwait, Oman, and Algeria, plan to reduce oil production by a total of 1.15 million barrels per day. Saudi Arabia and Russia announced that each country would decrease oil production by 500,000 barrels per day (bpd), while the UAE will cut 144,000 bpd and Kuwait will reduce production by 128,000 bpd. The announcement of the oil superpowers’ ...

The total value locked (TVL) in decentralized finance (defi) during the first week of April is about $50 billion, roughly the same as on March 1. The value locked dropped to $42 billion on March 12 but has since rebounded as protocols such as Lido Finance, Aave, and Justlend recorded double-digit monthly gains. After the March 12 Dip, the Value Locked in Decentralized Finance Rebounds to $50B According to statistics , the value locked in defi on April 2, 2023, is $50.22 billion, up 0.91% in the past 24 hours. The protocol Lido Finance commands a TVL of around $10.94 billion as of Sunday. Lido dominates the $50 billion TVL with 21.77%, and the value locked in the protocol saw a 19.75% rise in March. Makerdao’s TVL is below Lido’s at $7.7 billion as it rose 9.66% last month. Aave’s TVL increased by 16.94% to the current $5.55 billion. Protocols following Lido, Makerdao, and Aave in TVL size include Curve, Uniswap, Convex Finance, JustLend, PancakeSwap, Coinbase Staked Ethereum, and I...

Warnings continue to pervade market and financial news this week, with Monica Crowley, former assistant secretary for public affairs for the U.S. Department of the Treasury, indicating “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. In related news, billionaire Bill Ackman warned that the U.S. economy is “heading for a train wreck.” Meanwhile, First Citizens Bank has acquired SVB, and the U.S. government remains a top bitcoin holder with its seized stash. All this and more, just below. Former Treasury Official Warns of Complete Economic Implosion if US Dollar Loses Global Reserve Currency Status Former Assistant Secretary for Public Affairs for the U.S. Department of the Treasury Monica Crowley has warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency. “That would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete implosion of the global economic ...

Blocknox, a subsidiary of one of Europe’s largest stock exchanges, Boerse Stuttgart, has been licensed to operate as a crypto custodian in Germany. The authorization will allow the company to offer custody services for digital assets to institutional investors across the Old Continent. Boerse Stuttgart Subsidiary Blocknox to Offer Crypto Custody Services Under Bafin License Germany’s second-largest stock exchange and one of the largest in Europe, Boerse Stuttgart, will be able to provide European banks, brokers, asset managers, and family offices with both trading and custody solutions for their crypto asset offerings. Its subsidiary, Blocknox, which is part of the Boerse Stuttgart Digital division, has received the final license for its operations as a crypto custodian from the Bundesrepublik’s Federal Financial Supervisory Authority ( Bafin ), a press release revealed. Boerse Stuttgart Digital is the stock market’s brand for all activities in the field of cryptocurrencies. Thro...

According to data from the cryptocurrency automated teller machine (ATM) aggregation website Coin ATM Radar, over 3,600 crypto ATMs went offline in March. Since the end of 2022, the number of crypto ATMs has declined by 13.91% in the last three months. Crypto ATM Numbers Decline in 2023 According to data from Coin ATM Radar , the number of crypto ATMs worldwide has decreased by 13.91% since December 2022. At that time, 39,179 crypto ATMs were installed globally. In January, 1,587 crypto ATMs went offline, marking the second time a large number of machines had gone offline since the loss of 399 crypto ATMs in September 2022. In February 2023, the decline in crypto ATMs was less drastic than in January and fewer than the drawdown in September. A total of 275 cryptocurrency ATMs went offline in February. The largest decline was recorded in March, according to Coin ATM Radar statistics , which indicated a drop of 3,627 crypto ATMs. The loss in March coincided with the recent General...