CoinQue Chronicles
Crypto Market News At a Glance:
Weekly round-up of the most exciting pieces of news from the ??cryptocurrency??, ??blockchain??, and ??Web 3.0?? space ??
US Banking Turmoil Has Reinforced Crypto’s Long-Term Outlook: Coinbase
A recent report by David Duong, the head of institutional research for leading American crypto exchange Coinbase, suggests that crypto is the solution to the point of failure in the existing financial system. The researcher opined that the recent U.S. banking turmoil has caused more people to see and appreciate the value proposition of having an alternative to the system. In turn, the development has reinforced the long-term outlook for digital assets to the upside. Read more
Kraken to suspend Plaid withdrawals and deposits via ACH Silvergate
Major cryptocurrency exchange Kraken is experiencing difficulties with the withdrawal and deposit channel related to the automated clearing house (ACH) via Silvergate. Kraken has reportedly notified its users that it will be unable to support ACH deposits and withdrawals starting from March 27. According to multiple online reports by alleged Kraken users, Kraken sent an email notice with the announcement on March 22. Read more
SEC Warns Coinbase It's Pursuing Enforcement Action Over Securities Violations
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Crypto exchange Coinbase (COIN) may soon face an enforcement action tied to its listing of potential unregistered securities, the company said Wednesday. Coinbase disclosed the SEC alleged the U.S.-based company may be operating in violation of securities laws in the running of its exchange and staking services. The regulator targeted Coinbase with a so-called Wells notice that informs the business that the agency is planning a future action that could include an injunction or cease-and-desist without specifying exactly what activity it found in violation. Read more
QuickNode Empowers Blockchain Developers with Flow Integration to Accelerate Global Adoption
QuickNode, a leading blockchain infrastructure provider and end-to-end Web3 development platform, today announced its support for Flow, a permissionless public blockchain designed for mainstream adoption. Flow provides developers with a powerful, user-friendly platform built for usability. This integration further empowers developers to create scalable applications by leveraging Flow's unique multi-role architecture, resource-oriented programming language, developer ergonomics, and consumer onboarding capabilities. Read more
SVB Collapse Stalls NFT Market Growth
NFT markets have seen an upward trend since the beginning of 2023. Blue-chip NFTs like Bored Ape and Mutant Ape saw price increases of more than 200%. Till February 15, primary NFT sales grew from $1.7 million to $1.9 million, while secondary sales grew from $16.8 Million to $19.1 million. However, this growth was stunted by the SVB collapse, which affected about 10% of the USDC reserves. Read more
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