Of the three banks, two were well-known for having a significant client base in the crypto industry. Silvergate and Signature both had a strong presence in the market and were trusted by many in the space. Their sudden collapse has left many scrambling to find new banking partners and has caused sig

Hong Kong Takes Steps Toward Cryptoasset and Stablecoin Adoptionhttps://www.fameex.com/en-US/news/crypto-trending-news-2023031501The Hong Kong Monetary Authority (HKMA) has released the Consultation Conclusion outlining the Proposed Regime for regulating stablecoin-related transactions and entities

The New York State Department of Financial Services (NYDFS) has denied that the recent closure of Signature Bank was related to its involvement in cryptocurrencies. The NYDFS took possession of Signature Bank and placed it in receivership on March 13, but emphasized that the decision was based solel

Hong Kong Prepares for the Future with Virtual Asset Regulations and CBDC Pilot.In October 2022, the Hong Kong government released the Policy Statement on Development of Virtual Assets, signaling a shift in its stance towards digital currencies. As a follow-up, the Hong Kong Monetary Authority (HKMA

Last week saw a record outflow of funds from crypto, erasing all inflowshttps://www.fameex.com/en-US/news/crypto-trending-news-2023031403According to CoinShares, investors withdrew money from bitcoin and Ethereum funds, causing cryptocurrency investment products to experience their largest outflow o

Investors are showing a negative sentiment towards bitcoin as short bitcoin funds saw outflows totaling $1.2 million last week. However, this particular investment product still holds the largest inflows year-to-date of $49 million, indicating that it has still managed to attract significant investm

The ephemeral NFT capabilities were originally introduced in May, but according to Meta's financial technology lead, the company is "winding down" the tools to concentrate on other areas.Source: www.ixbt.comAfter around 10 months after its first deployment, the large tech company Meta is discontinui

Goldman Sachs Predicts No March Rate Hike Due to Stress in US Banking Systemhttps://www.fameex.com/en-US/news/crypto-trending-news-2023031401Goldman Sachs has revised its prediction for the expected US interest rate hike at the Federal Open Market Committee (FOMC) meeting scheduled for March. Due to

The Federal Reserve is conducting an investigation into the factors that led to the collapse of Silicon Valley Bank. The bank failed in 2022, leading to significant losses for its depositors. Federal Reserve Chair Jerome Powell stated that a "careful and thoughtful" review is necessary to understand

Goldman Sachs, the global investment bank, has revised its forecast for U.S. interest rates due to "stress in the banking system." According to reports, the bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March, following the