AI
Banking
Flagstar Bank acquires Signature Bank – without $4B of ‘digital banking’ deposits
Signature Bank has found a buyer after a week long financial odyssey, the New York Community Bancorp, Inc.
DeFi
Top 5 crypto projects outperforming Bitcoin’s recent 30% gains
Conflux (CFX) leads cryptocurrency market growth with 197% rise in the past week.
Stablecoins
USDC in circulation fell over 10% since de-peg event
Meanwhile, the largest stablecoin by market capitalization USDT has experienced an 8.7% increase in supply.
Trading
Bitcoin surges 10% hitting 9-month high
Finishing off a strong weekly rally, Bitcoin surges over 10% on Mar. 17 as investors narrow in on $28K heading into the weekend.
Analysis
Bank of America said to be buying Signature Bank, tweets Bill Ackman
Back of America to Signature's rescue? According to the investor and renowned short-seller, BOA seems to be on the table.
Analysis
BlackRock CEO Larry Fink says US is lagging behind in crypto developments
Fink added that many market challenges remain for the onboarding of digital assets, but that he remains bullish on emerging economies.
CBDCs
China’s Fujian Province processes nearly $22B in digital yuan transactions
It also comes during a time in which the People's Bank of China (PBOC) has banned the use of other cryptos, such as Bitcoin and Ethereum.
Regulation
Belgian foreign minister calls for crypto ban
The comments come after a special Basel Committee on banking has recommended that banks develop protocols for holding stablecoins and crypto.
Analysis
US Banks borrow record-high $164.8B from Fed backstop facilities
Meanwhile, Circle's USDC stablecoin maintains $1 peg despite recent banking contagion and widespread fear in the banking sector.
Adoption
CZ touts rules for securitization of digital assets in new tweet thread
CZ's early morning thoughts echo others in the crypto community who worry that exposure to traditional finance can also hurt the industry.
Crime
A new class-action lawsuit targets YouTube influencers for promoting FTX
The suit was filed by Edwin Garrison against "FTX influencers" for their alleged role in the promotion of a massive crypto fraud totalling over $1 billion in damages.
Stablecoins
Circle says substantially all USDC minting, redemption backlogs are resolved after wild week
“Trust, safety, and 1:1 redeemability of all USDC in circulation is of paramount importance to Circle," CEO Jeremey Allaire said.