Bitcoin Emerges as Safe Haven as Traditional Finance Faces Turmoil
On March 8, rumors of trouble at SVB caused digital assets to become entangled in the situation. The announcement that $3.3 billion of Circle’s dollar-backed USDC stablecoin was held at SVB caused the stablecoin to depeg from the U.S. dollar.This led to digital asset investors selling positions on major exchanges. Bitcoin dropped from 22,410 to 19,500, and ether slipped almost 200 points from 1,560 to 1,368, breaking below its 200-day moving average momentarily before recovering.
Related Posts


What’s at the Intersection of Crypto and AI? Perhaps Murder
Security expert Ari Juels has been thinking about how technology can derail society for about as long as he can remember. That doesn’t mean Juels, the chief scientist at Chainlink and professor at Cornell Tech, in New York CIty, thinks the world is going off the rails anytime soon. But over the past decade —

Bitcoin Crosses $29K for First Time in Over a Month
Bitcoin (BTC), the world’s largest cryptocurrency by market value, has rallied above $29,000 for the first time in over a month. This comes following an uptick in bullish sentiment in the crypto market as traditional finance (TradFi) players push further into crypto.Last week, investment giant BlackRock (BLK) filed for a U.S. bitcoin exchange traded fund…

Crypto HODLers Stash Bitcoin Worth $1.35B Each Month, Onchain Data Show
Long-term investors continue to buy up bitcoin (BTC) at a brisk pace, contributing to market illiquidity, data by blockchain analytics firm Glassnode show.The HODLer net position change metric shows long-term investors or wallets with a history of holding coins for at least 155 days have been accumulating 50,000 BTC ($1.35 billion) per month.The total number

Crypto Traders Now See No Winner in Bitcoin Cash Fork
NEWS Early trading indicates crypto investors may no longer believe Bitcoin ABC, today the dominant software used to run the bitcoin cash blockchain, will hold on to its leading position following an expected fork tomorrow. At press time, exchange markets set up in advance to offer traders a choice between Bitcoin ABC and its expected…

CoinDesk Acquires TradeBlock, Adding Indexes and Pricing to News, Events Offerings
Jan 5, 2021 at 3:10 p.m. UTCUpdated Jan 5, 2021 at 3:29 p.m. UTCFinancial charts at digital display(Getty Images)CoinDesk Acquires TradeBlock, Adding Indexes and Pricing to News, Events OfferingsCryptocurrency media and events platform CoinDesk, which owns this news service, announced Tuesday it purchased TradeBlock, the world’s leading crypto index provider.With the purchase, CoinDesk said it’s…

US Lawmakers Seek Sanctions Against Iran’s Cryptocurrency Efforts
news A bill introduced this week in Congress takes a hard line on Iran’s efforts to develop its own cryptocurrency. U.S. regulators have warned in recent months that Iran’s government wants to use a sovereign cryptocurrency, similar to the petro in Venezuela, to evade economic sanctions. Portions of the Blocking Iran Illicit Finance Act, introduced…

Wyoming Defends ‘Legitimacy’ of Its Crypto Charter Framework in Custodia Lawsuit
Featured SpeakerChristy Goldsmith RomeroCommissionerU.S. Commodity Futures Trading CommissionExplore the policy fallout from the 2022 market crash, the advance of CBDCs and more.Cheyenne Ligon is a CoinDesk news reporter with a focus on crypto regulation and policy. She has no significant crypto holdings. Featured SpeakerChristy Goldsmith RomeroCommissionerU.S. Commodity Futures Trading CommissionExplore the policy fallout from the…

There’s No Crypto Winter in Argentina, Where Startups Ramp Up to Meet Demand
feature While bitcoin advocates point to politically fraught Venezuela as a prime example of crypto adoption, they often overlook the more business-friendly hub a bit farther south. Since Argentina has a sordid history of banks restricting customer access, plus an inflation rate that hit 47 percent in 2018, bitcoin isn’t a hard sell these days.…