United States-based cryptocurrency exchange Coinbase has acquired cryptocurrency-focused hedge fund One River Digital Asset Management, or ORDAM. In a March 3 blog post, Coinbase said One River Digital will transition to become Coinbase Asset Management, “an independent business and wholly-owned subsidiary” of the crypto exchange. One River Digital is registered as an investment adviser under the U.S. Securities and Exchange Commission, and has previously accepted investments from Coinbase to scale its operations. “Coinbase and ORDAM share an ethos grounded in prudent risk management, a trait which has enabled both firms to successfully navigate the recent market turmoil,” said Coinbase. “Culturally, …

Bitcoin (BTC) traded around $22,400 at the March 3 Wall Street open as analysts stayed divided over the odds of a recovery. Hopes for an inverse "Bart Simpson" on BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading flat after a flash crash overnight saw $1,000 shaved off in minutes. As Cointelegraph reported, concerns over the fate of Silvergate bank exacerbated existing market cold feet to spark a margin call cascade to $22,000. At the time of writing, only a modest comeback had taken place, while opinions diverged as to how short-term price action would play out. "Locked …

ConsenSys has announced the upcoming release of its zero-knowledge Ethereum Virtual Machine (zkEVM) rollup to a public testnet on March 28, allowing for stress testing of the layer-2 scaling technology. ConsenSys’ research and development team has been working on its zkEVM rollup over the past four years. The zkEVM is touted to offer fast finality, high throughput and security of settlements on the Ethereum blockchain. A private beta launched in Q4 of 2022 gave early access to limited users, which processed over 350,000 transactions and onboarded various decentralized applications (DApps). The testnet allowed Solidity developers to build, test and launch …

Wall Street movies offer insightful perspectives into the worlds of business, finance and power. They also emphasize how vital creativity, risk-taking and tenacity are to success. Viewers can learn more about the financial sector and its effects on society by watching these films. They can also serve as a source of encouragement and inspiration for people wishing to pursue a profession in business or finance. Here are the top seven Wall Street movies that individuals keen on learning about the financial sector must watch. “The Wolf of Wall Street” The Wolf of Wall Street is a 2013 biographical black comedy …

Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of alternatives if they haven’t searched for them. According to data from the International Monetary Fund, the euro is the world’s second most widely held reserve currency, behind the U.S. dollar and ahead of the Chinese yuan. The euro is the official currency of the eurozone, comprising 20 of 27 member states of the European Union (EU), with …

It’s no secret that over the last few years, many physical events have now digital iterations or have even been completely digitized into virtual reality. Recently, in Colombia, a local judge decided to bring a court hearing into the metaverse as an experiment with the technology. It was a civil case involving a traffic incident, which will progress further “partially” in the metaverse. While many believe that the metaverse will reshape our social lives, it begs the question if digital reality can best serve important societal moments such as court cases where an individual’s future may be at stake. Cointelegraph …

Bitcoin (BTC) investors reeling from the shock of recent cryptocurrency company failures and banking issues may face another potential problem: a recovering U.S. dollar. US dollar strength reemerges Notably, the U.S. dollar index (DXY), which tracks the greenback's performance against a basket of top foreign currencies, has risen 4% from its Feb. 3 low of 100.82, amid anticipations that the Federal Reserve will continue raising benchmark rates to cool inflation. Inflation ersists An air of caution remains as fresh U.S. data shows a recession is not yet imminent. That includes the latest jobless claims, which fell 2,000 to a seasonally …

The popular fintech bank Silvergate Bank lost five crypto partners on March 2, owing to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital were some of the most notable crypto firms that were using Silvergate as their banking partner. However, the termination of service by Coinbase has also forced a crypto hedge fund to look for an alternate banking partner. Today Silvergate has lost Coinbase Circle Paxos Galaxy CBOE RIP https://t.co/XlexB5u2wD — db (@tier10k) March 2, 2023 On March 3, a crypto hedge fund called Digital Asset Capital Management (DACM) with assets worth …

The global payments industry is bullish on the potential of cryptocurrencies and blockchain to enable faster and cheaper transactions, according to a new survey co-hosted by Ripple. Blockchain-based digital payment network Ripple and the Faster Payments Council (FPC) payment organization on March 2 issued a report devoted to the opportunities of crypto-enabled payments. Titled “Transforming the Way Money Moves,” the report provides insights on global crypto payment trends based on a survey sent to over 950 FPC subscribers, such as analysts and CEOs across 45 countries. The survey included a total of 281 respondents addressing 25 questions on topics of …

Ras Al Khaimah’s recently announced free zone for virtual asset firms will explore accepting crypto payments from companies looking into setting up their businesses in the emirate, a lawyer involved in the hub’s development said. Dubai-based crypto lawyer Irina Heaver told Cointelegraph that once the Ras Al Khaimah Digital Assets Oasis (RAK DAO) secures the appropriate partners, it will check out crypto payments, including Bitcoin (BTC) and other stablecoins, for corporate registrations, office rent and other services. “After all, cities and cantons in Switzerland have been doing this for years,” she noted. Heaver further explained that suitable technology and regulatory …

Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss. The guidelines came from the United States Securities and Exchange Commission (SEC), which became effective in April last year. The guidelines ask financial companies holding crypto for customers to recognize all digital assets they do not control as a liability. It also states that digital assets should be backed by a safeguarding asset. Crypto companies must show liabilities equal to ALL customer crypto assets, according to SEC's new rule SAB 121 issued in March 2022.@coinbase complied …

Binance USD (BUSD) market cap has fallen below $10 billion for the first time in almost two years amid a United States regulatory crackdown on its token issuer and a planned delisting from a major crypto exchange. BUSD’s marketcap has been on a steep downward trajectory since its all-time high (ATH) market cap of $23.49 billion on Nov. 15, just a few days after the shock collapse of FTX. As of today, the stablecoin’s marketcap has fallen to $9.66 billion — levels not seen since Jun. 29, 2021. Most recently, BUSD has been the subject of a potential lawsuit against …