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Bitcoin Falls 4.5% to $26,916
Date: March 23, 2023
(Reuters) – Bitcoin dropped 4.5% to $26,916 at 20:07 GMT on Wednesday, losing $1,276 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 7% from the year’s high of $28,936 on March 22. Ether, the coin linked to the ethereum blockchain network, dropped 4.67 % to $1,722.6 on Wednesday, losing $84.3...
Britcoin Battleground: Why the Bank of England’s Digital Pound Proposal Requires Radical Action to Thrive
Date: March 20, 2023
By Alessandro Hatami, managing director of Pacemakers and Leon Gauhman, co-founder and chief strategy officer of digital product consultancy Elsewhen. News that HM Treasury and the Bank of England are “looking at the case” for a digital pound – with a UK-backed CBDC “more likely than not” – passed without much fanfare. It’s a shame...
NatWest Limits Customers’ Crypto Transfers, Citing Scam Concerns
Date: March 15, 2023
By Elizabeth Howcroft LONDON (Reuters) – Britain’s NatWest has imposed new limits on the daily and monthly amount customers can send to cryptocurrency exchanges, seeking to protect consumers from “crypto-criminals”, the bank said on Tuesday. From Tuesday customer transfers to cryptocurrency exchanges will be limited to 5,000 pounds ($6,088) per 30-day period, with no more...
Meta to Wind Down NFTs on Platforms Amid Crypto Bust
Date: March 14, 2023
(Reuters) -Meta Platforms Inc is cutting off support for digital collectibles or non-fungible tokens (NFTs) on its platforms less than a year after rolling it out, as the crypto market continues to spiral. “We’re winding down digital collectibles (NFTs) for now to focus on other ways to support creators, people, and businesses,” the social media...
Why Britcoin Needs to Harness the Power of Existing Fintechs
Date: March 13, 2023
Anastasia Evans, General Counsel and Company Secretary at IFX Payments Talk of Britcoin – a UK-based central bank digital currency (CBDC) – presenting lucrative opportunities for business has been fuelled this month by Ben Broadbent, deputy governor for monetary policy. As we continue to digitise, physical cash and the legacy system we are accustomed to...
Crypto Stocks Slide After Silvergate Decides to Shut Down
Date: March 10, 2023
By Niket Nishant, Medha Singh and Hannah Lang (Reuters) – Shares of crypto-focused companies fell on Thursday after Silvergate Capital Corp disclosed plans to wind down operations and voluntarily liquidate, as the aftermath of FTX’s implosion last year reverberates through the industry. Shares in Silvergate plunged more than 35% to $3.17, a day after hitting...