Kraken Cuts Ties with Troubled Banks, Affecting Crypto Firms

 24. March 2023      

• Kraken crypto exchange has informed its customers that ACH deposits and withdrawals via Silvergate and Plaid will no longer be available starting March 27.
• The sudden collapse of Silvergate, Signature Bank, and Silicon Valley Bank has caused a major setback for many U.S.-based crypto-focused firms.
• Coinbase has stopped supporting Signature Bank’s Signet payment ramp until further notice, while Xapo Bank partnered with Circle to enable USDC deposits and withdrawals.

Kraken Cuts Ties With Silvergate

Kraken crypto exchange has reportedly informed its customers that as of March 27, automated clearing house (ACH) deposits and withdrawals through its banking partner, Silvergate, will no longer be supported. The team has made it clear that from the said date, the deposit option through Plaid and the withdrawal option via ACH Silvergate, will no longer be visible on its platform. However, other funding methods such as MVB bank for Fedwire deposits and withdrawals will continue to function.

Crypto Firms Hit Hard by U.S Banking Crisis

The abrupt collapse of Silvergate, Signature Bank, and Silicon Valley Bank has come as a massive blow to web3 projects that have alliances with them. It is reported that a good number of crypto-focused firms based in the U.S are now in search of new banking partners abroad. As recently reported by crypto news citing WSJ., Brian Armstrong’s Coinbase crypto exchange which received a Wells notice from the SEC on March 22 recently relinquished support for Signature Banks’ Signet payment ramp until further notice.. In related news Xapo bank a regulated Gibraltar based bank partnered with Circle to enable cost efficient round-the-clock USDC deposits and withdrawals..

Previous Challenges Faced By Kraken Crypto Exchange

Kraken which suspended its crypto staking service last Feb due to a crackdown by the U.S securities and exchange commission (SEC) says its team is working hard to reinstate ACH funding via another banking partner as soon as possible..

What Customers Need to Know About Kraken’s Changes

Customers need to know that they can still use other funding methods such as MVB bank for Fedwire deposits and withdrawals after March 27 when ACH deposit/withdrawals through Silvergate are no longer available .


The sudden closure of key banking partners for many U.S.-based cryptocurrency exchanges highlights some of the difficulties these companies face when dealing with traditional financial institutions in America . This could lead many companies looking for more reliable banking solutions abroad or develop alternative forms of payments on their own platforms .

Kaiko Relocates to Hong Kong, Taking Advantage of Crypto-Friendly Policies

 18. March 2023      

• Kaiko, a cryptocurrency market data provider based in Paris, is relocating its Asian headquarters from Singapore to Hong Kong for reasons such as the city’s pro-crypto policy pivot and emergence from Covid-related restrictions.
• Hong Kong is learning from past bankruptcies like the FTX exchange and allowing retail investors to trade larger tokens such as bitcoin (BTC) and ether (ETH), while also considering stricter rules following the FTX fallout.
• Kaiko wants to support the institutionalization, growth, and establishment of the digital asset class in the city.

Kaiko Relocates to Hong Kong

Kaiko, the cryptocurrency market data provider based in Paris, is set to relocate its Asian headquarters from Singapore to Hong Kong, driven by the latter’s efforts to cement itself as a global leader in the digital asset space.

Hong Kong’s Pro-Crypto Policy Pivot

The city’s pro-crypto policy pivot and emergence from Covid-related restrictions were also key factors that influenced the move Kaiko’s CEO Ambre Soubiran said in a Bloomberg interview on March 16. She believes Hong Kong’s recent regulatory changes and initiatives are clear indicators of the direction capital will flow making it an attractive destination for hedge funds, investors, and asset managers.

Crypto Industry Challenges

The crypto industry remains in a deep downturn after a bubble in token prices last year causing investors to flee. As a result several companies including Coinbase Global and Huobi slashed thousands of jobs. Others are waiting for a crypto recovery and Hong Kong’s revamped digital-asset rules before committing scarce investment funds.

Impact on Institutionalization & Growth

According to Soubiran, Hong Kong’s regulatory landscape is changing positively, and Kaiko wants to support the institutionalization growth and establishment of the digital asset class in the city.

New Licensing Regime for Exchanges

Vitalik Buterin Mocks Shitcoins After Selling $700K Worth of Tokens

 11. March 2023      

• Vitalik Buterin recently sold over $700,000 worth of various tokens.
• He made a post mocking shitcoins on Reddit which sparked a wave of trolling and shilling.
• Despite this, he was given 250,000 BITE tokens shortly after posting the tweet he was criticized for.

Vitalik Buterin’s Token Sell-off

Vitalik Buterin recently sold over $700,000 worth of various tokens, according to Etherscan and PeckShield. This included 50 billion MOPS tokens equating to 1.25 ETH (approximately $2,000), 10 billion CULT tokens for 58 ETH (roughly $91,000) and 500 trillion SHIK tokens for 380 ETH (approximately $600,000). Furthermore, he reportedly transferred 3.4 million BITE for around $9,250. This is not the first time that Buterin has dumped coins as in May 2021 his Shiba Inu and Dogelon Mars sell-offs caused the values of those tokens to plummet by 40% and 90%, respectively.

Buterin’s Reddit Post

In a post published on March 9 on a small subreddit called Testingtesting62831, Buterin referred to the token Bite (BITE) and most other coins discussed on r/Testingtesting62831 as “shitcoins”. He stated that these cryptocurrencies have “no redeeming cultural or moral value and will probably lose you most of the money you put into them.” His post spurred a wave of trolling with other users increasing their shilling efforts as well as generating memes targeting him.

Receiving BITE Tokens

Despite criticism from his Reddit post regarding shitcoins and other cryptocurrencies, Buterin received a total of 250,000 BITE shortly after posting it. The token is not traded on major price monitoring websites but blockchain records show that it was sent directly to his wallet address from an anonymous sender on March 7th at 8:50 pm UTC+8 timezone.

Outrage Against Shitcoiners

Buterin’s actions are seen by some people as taking a stand against “shitcoiners” who are ruining the reputation of blockchain technology due to their attempts to make quick profits off low-quality projects or hype up worthless digital assets with no real purpose beyond speculation or scams. If nothing else this incident shows that even when cashing out large amounts himself Buterin still takes an outspoken stance against anything he perceives as damaging crypto communities or ecosystems in general.


Overall it seems clear that despite selling hundreds of thousands worth of different coins recently Vitalik Buterin remains staunchly opposed to anything perceived as potentially harmful or speculative within the crypto space such as shitcoins or hype driven projects with no real purpose behind them beyond making money quickly at investors expense .

Lightning Network Grows with Xapo Bank Integration: Faster & Cheaper BTC Payments

 5. March 2023      

• Xapo Bank, a licensed private bank and top bitcoin custodian, has integrated with the Lightning Network.
• This integration enables Xapo Bank’s customers to make lightning-fast bitcoin payments, up to $100 at any vendor that accepts Lightning payments.
• Major companies such as Robinhood, Cash App and Strike have announced plans to expand the applications of the Lightning Network.

Xapo Bank Integrates With The Lightning Network

Xapo Bank, a licensed private bank and one of the top bitcoin custodians, has collaborated with Lightspark and integrated with the Lightning Network. This integration enables Xapo Bank’s customers to make lightning-fast bitcoin payments for small purchases up to $100 at any vendor that accepts Lightning payments. Unlike traditional bitcoin transactions with high fees and long blockchain confirmation waiting times, Xapo Bank’s integration eliminates these issues.

What is Lighting Network?

The Lighting Network (LN), also known as Lightning or LN, is a Bitcoin scalability solution that enables fast and low-cost BTC transactions. It operates as a Layer 2 off-chain solution; meaning transfers occur through a separate network of payment channels connected to Bitcoin’s blockchain. The Lighting Network was initially proposed in 2016 as a second-layer protocol for Bitcoin transactions to improve scalability of the original blockchain network.

Lightning Enables Faster Payments

Lightning enables faster and more efficient payments by removing transactions from the main blockchain. The feature became operational on Bitcoin in early 2018 while reducing transaction fees significantly.

Major Companies Using The Lightning Network

At the 2022 Bitcoin Conference held in Miami major companies such as Robinhood, Cash App and Strike announced their plans to support and expand applications of the Lighting Network which was well received by attendees at the conference. Strike in particular disclosed partnerships with major companies like Shopify, BlackRock among others aiming at redefining payment systems globally.


The latest development towards integrating lighting networks into global financial systems signals an increased adoption rate for digital currencies around the world thus increasing its utility value over time

Tron Network’s TRX Jumps 13.6% in 30 Days as Crypto Markets Trade Flat

 27. February 2023      

Tron’s Price Surge

• In the past 30 days, Tron’s native token (TRX) has experienced a 13.6% jump in price.
• This increase was higher than Bitcoin and Ethereum, which both experienced corrections during this time.
• The surge is likely due to the network’s positive developments and market sentiment.

TRX Price Movement

According to CoinMarketCap, TRX was trading at about $0.06073 on Jan. 25 and managed to stay above that level over the next month. On Feb 20th, it reached its highest point of $0.07249 representing a 19.36% hike since Jan 25th. Currently, TRX is priced at $0.06902 – a 13.6% rise in the last 30 days.

Factors Influencing Price

The prices of cryptocurrencies are often influenced by demand, supply, network development, market sentiment and macroeconomic factors. According to CoinStats’ Fear and Greed Index, TRON’s current market sentiment is 53 – placing it firmly in the greed category. Additionally, Tron is actively developing its project with 15 billion TRX tokens burned recently – suggesting deflationary pressure on prices may soon be felt by investors.

Bitcoin vs Ethereum vs Tron

Bitcoin (BTC) and Ethereum (ETH) have both experienced losses over the past week while TRX has maintained its positive run increasing by 2.94%. This suggests that there could be support for an increase in value for the Tron coin despite general crypto markets being relatively flat over this period of time..


Tron’s native token (TRX) has experienced a considerable price surge over the past 30 days – outperforming Bitcoin & Ethereum significantly with a 13.6% increase in value as of Feb 24th 2023 6:32 pm GMT . This surge can be attributed to several factors such as network developments & favorable market sentiment as indicated by CoinStat’s Fear & Greed Index which placed TRON firmly in ‘Greed’ territory at 53/100 points currently..

Altcoins Hit New ATHs as Crypto Market Recovers

 20. February 2023      

• Bitcoin (BTC) and Ethereum (ETH) have risen 14% and 12%, respectively, over the past week.
• Several altcoins such as OKB, VELA, and OAS have also reached new all-time highs during this time.
• OKB announced the launch of OKBChain, VELA was recently airdropped, and OAS is exploring more collaborations in the gaming blockchain world.

Crypto Market Recap

The global crypto market cap rose by 2.7% to $1.12t as Bitcoin (BTC) and Ethereum (ETH) gained 14% and 12% respectively over the past week. Additionally, several altcoins have also hit their all-time highs during this period.


OKB has been on a steady rise over the past week but its price surged 15%, reaching an ATH of $52.8 after OKB announced the launch of OKBChain in Q1 of 2023. The immediate hurdle for OKB is at around $50 while Fibonacci retracement suggests that it could move up to $65 if Bitcoin continues its current momentum. At the moment, it is trading at $54.8 with a gain of 110.45% YTD and 207.63% in the last six months.


VELA token has been performing well since its recent airdrop with a daily trading volume of $27m and total volume of $11m in 8 days after Beta release on February 17th 2021 . The token also got listed on MEXC and there are roaming airdrops for Beta participants along with 50% gas fee slashing from Vela exchange which helped enable 2-3x improvement in UI load speeds for orders & positions . On Feb 18th 2021 ,VELA token hit an ATH at USD 7.65 before settling back to USD 6 .90 currently .


Oasys(OAS) price is currently at $0.12077, up 9.47% in the past 24 hours after hitting an ATH of 0$13011 on Feb 18th 2021 . This surge came after Oasys announced that it is exploring more collaborations in the gaming blockchain world along with blockchain-based services earlier this week followed by partnership with Avalanche yesterday which helped propel prices higher


Overall ,the crypto market continues to recover despite some temporary dips as we can see several altcoins reaching their all time highs led by news from their respective projects like OKBCHAIN launch ,Vela’s airdrop & Oasys’ partnerships & collaborations .

Coinbase to Defend Staking Services in Court: No Security Involved

 14. February 2023      

• Coinbase CEO Brian Armstrong declared that the company’s staking services are not securities.
• The US Securities Act and the Howey test do not consider taking a form of investment that constitutes a security.
• Coinbase asserts that their staking services do not qualify as an investment of monetary value, or a common business under Howey.

Coinbase Defends against Staking Services Ban in Court

The US Securities and Exchange Commission (SEC) recently proposed a ban on staking services, but Coinbase CEO Brian Armstrong declared that the company’s staking services are not securities. Armstrong added that the company is willing to defend this position in court if necessary.

Howey Test Does Not Consider Staking as Security

The SEC uses the Howey test to determine if an investment contract is a security, however, this test does not include taking a form of investment that constitutes a security. Despite this, there is still debate whether the test applies to current assets such as cryptocurrency. Coinbase claims that their staking method does not meet the requirements of the Howey test – which include an investment of money, joint enterprise, reasonable expectation of profits, and other people’s efforts.

Consumer Ownership Retention Declassifies Staking as Asset

According to Coinbase, when customers ask them to stake part of their cryptocurrency they are not giving up anything in exchange for anything else; rather they continue to own what they had before asking for staking services. Furthermore, clients maintain full ownership of these assets and have complete control over them after asking for staking services – making it unsuitable for qualification as an asset according to Howey tests criteria.

Staked Assets on Decentralized Networks Not Considered Common Business

Coinbase also states that assets being stored on decentralized networks do not qualify as “common business” under Howey since validation of transactions is handled by ‘stakers’ instead of centralized organizations. Customers’ fortunes are also independent from Coinbase since rewards received from staked assets are predetermined and unrelated with any central organization’s performance or future prospects.


In conclusion, while speculation remains regarding whether or not cryptocurrencies should be classified as securities according to the SEC’s standards; Coinbase has outlined how its own practices comply with existing regulations surrounding digital assets – even going so far as offering its willingness to support this position in court if needed

Brazil Unveils Crypto Laws to Empower Police, Tax Agency

 7. February 2023      

• Brazil’s federal prosecution office is set to roll out a roadmap of activities that will grant the nation’s prosecutors, courts, and police officers powers to prosecute offenders and confiscate crypto.
• The MPF held a meeting to present documents to its criminal chamber and special crypto units.
• The MPF highlighted that the new development is born out of the ‘growing relevance’ of crypto, particularly in the legal sphere.

Brazil Unveils Crypto Legislation

Brazil’s Federal Public Ministry (MPF) has unveiled legislation regarding cryptocurrencies for police and tax authorities. This legislation will grant law enforcement officials with powers to seize digital assets as part of their efforts to combat crypto-related crimes.

Meeting To Present Documents

The MPF held a meeting on February 6th, 2023 which included representatives from the National Council of Justice, Federal Police, and Tax Agency. At this meeting they presented documents outlining their plans for seizing cryptocurrencies in an effort to prevent pyramid schemes and hacks related to cryptocurrency transactions.

Growing Relevance Of Crypto

The MPF noted that this development was due to a growing awareness among citizens about the potential benefits of cryptocurrencies and digital assets in terms of legal transactions. They also provided resources for prosecutors and law enforcers in order for them to become more familiar with various aspects of the cryptocurrency industry.

Final Text & Training Sessions

Incoming days will see final text from these guidelines sent off by Criminal Chamber while training sessions focusing on cryptocurrencies will be provided by MPF officials as well as law enforcement agents. This is intended as an effort towards regulation in Brazilian market with respect to cryptocurrency use cases.


Brazil’s decision serves as a reminder that governments across the world are becoming more aware of the potential benefits associated with cryptocurrency use cases, thus taking steps towards regulating them appropriately so that illegal activities can be prevented or curbed where needed.

Ethereum Reaches 90-Day High as Crypto Market Monitors Fed’s Movements

 1. February 2023      

• Ethereum (ETH) started off 2021 with a strong performance, having reached a 90-day high of $1,674 on Jan. 21.
• Factors such as the Federal Reserve’s decision on interest rate hikes and inflation levels could potentially impact ETH’s price.
• Ethereum has become the go-to platform for developers, entrepreneurs, and investors due to its wide range of capabilities and its resilience over time.

At the start of 2021, Ethereum (ETH) has been experiencing a period of growth. After kicking off the new year at $1,192, ETH surged to a 90-day high of $1,674 on Jan. 21, representing an increase of 40.43% YTD (year-to-date). As of Jan. 30, ETH was trading at $1,572, down 6.09% from its 90-day peak. This surge in Ethereum’s performance has been welcomed by the crypto community, with many investors and developers turning to this digital asset as an investment opportunity.

The crypto market is currently monitoring the Federal Reserve’s decision on interest rate hikes. It is expected that the regulator will retain its stringent measures to keep the economy in check. However, most analysts anticipate a 25-basis points increase, which is lower than the December hike of 50-basis points. This hope for moderation has been supported by the slight decrease in overall inflation in December, bringing it down to 6.5% from the 7.1% registered in November. As the Federal Reserve adjusts its policy tools to respond to economic trends, the crypto market will be monitoring any potential impact that this may have on digital assets such as Ethereum.

Ethereum has become the go-to platform for developers, entrepreneurs, and investors. It offers a wide range of capabilities, from decentralized finance (DeFi) to gaming and data storage, making it the platform of choice for many. It has established itself as a reliable and versatile digital asset, allowing users to take advantage of the latest technological advances while still remaining secure. The blockchain-based platform has also demonstrated its resilience over time, withstanding market volatility and proving its worth to investors.

As the project progresses, Ethereum is expected to continue to grow in popularity and value. As such, the Ethereum price analysis indicates potential gains in 2023. With the Federal Reserve’s decision on interest rate hikes and inflation levels potentially impacting ETH’s price, investors are keeping a close eye on how the digital asset will settle throughout the year. It is expected that Ethereum will remain a key player in the crypto market and will continue to offer investors a secure and profitable investment opportunity.

Unified Trading Account for Easier Investment Diversification

 26. January 2023      

• Bybit has launched a Unified Trading Account (UTA) that enables investors to diversify trades across several markets in one account.
• The UTA offers features such as shared margin and cross-collateralized borrowing and lending, allowing investors to switch trading strategies without hassle.
• The account provides access to more than 60 asset types for cross-margin trades.

Bybit, a leading cryptocurrency exchange, has announced the launch of its Unified Trading Account (UTA). This account will enable investors to diversify their trades across multiple markets, all from one account on the exchange. The UTA will also provide investors with a margin and risk overview, which will help them determine which strategies to use before executing trades.

The UTA offers investors multiple options and features, such as shared margin and cross-collateralized borrowing and lending. Through these features, investors are able to switch their trading strategies without needing to move their funds from one account to another. Furthermore, the UTA offers access to over 60 asset types for cross-margin trades, allowing investors to diversify their portfolios even further.

In addition, Bybit has promised that more trading products will be added to the UTA as the account develops. This includes USDT perpetuals, spot trading, margin trading, and other USDC options.

Overall, the UTA is a great tool for investors who are looking to diversify their trades and switch strategies quickly. The account provides investors with a margin and risk overview, allowing them to determine which strategies to use before executing their trades. Moreover, the UTA offers access to more than 60 asset types for cross-margin trades. With the UTA, investors are able to diversify their portfolios and have more control over their trades.