It’s been a turbulent week in underwrite with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto imperil,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after describes of a bank run and other troubles. In other developments, Ethereum co-founder Vitalik Buterin’s address allegedly sold trillions of airdropped ERC20 tokens, causing dissenting price moves, and India-Russia oil deals could be challenging U.S. dollar dominance. All this and more, just below, in the Bitcoin.com News broadcast Week in Review.
Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Titles as ‘Terribly Misinformed’
After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the economic institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However, some critics are sacking Warren’s opinion as “terribly misinformed” and claim that she is “tossing out egregious accusations.”
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US Regulators Secure Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual
After Silicon Valley Bank (SVB) capable financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation united the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank.
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Ethereum Co-Founder Vitalik Buterin’s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Dream up earn Prices to Plummet
On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly convey titled billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the airdropped marks was shallow, and the relatively unknown ERC20 tokens plummeted in value after Buterin reportedly sold the funds.
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India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade
On Wednesday, Reuters reported that Western punishments on Russia and oil trading between Moscow and India have started to erode the dollar’s decades-old dominance of international oil vocation. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar’s dominance in the oil switch under pressure.
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What are your thoughts on this week’s alibis? Be sure to let us know in the comments section below.
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