🌐Thursday Morning News Recap - March 9, 2023 \ stacker news ~bitcoin

The US crypto bank Silvergate announced its intentions to voluntarily initiate liquidation procedures and return all deposits to its clients. The real impact of this bank's collapse on the market is not very clear, but in turn, major crypto companies claim to no longer have dealings with the bank. It is emphasized that the bank collapsed not due to problems related to investments in cryptocurrencies, as some politicians try to spin, but because clients withdrew their money.
After Silvergate announced its liquidation plans, BTC suffered further losses, and its price has been fluctuating in search of a stronger support to stabilize. In brief, regulatory and interest rate uncertainties (the Fed chairman emphasized yesterday that no decisions regarding higher interest rates have been made), speculations about a recession, all of these certainly don't help the markets recover.
Jerome Powell, the head of the US Federal Reserve (Fed), also said that the Fed is only experimenting with a possible CBDC (central bank digital currency) project for now and is still far from making "real decisions" in this area.
The US presidential administration plans to eliminate the "tax loss harvesting" loophole that allows BTC and crypto investors to sell their assets at a loss and reduce their payable taxes. The loophole was utilized by Microstrategy late last year.
According to unconfirmed sources, the investment banking giant J.P. Morgan is ending its relationship with the Gemini crypto exchange.
The market will be watching yet another important hearing in the US Congress today concerning the regulatory attacks on the digital asset ecosystems.
Perth Heat, the Australian Baseball League’s most successful baseball team, has announced a new partnership involving Bitrefill, Wallet of Satoshi and IBEX that will allow fans to “Steal Sats” by scanning a QR code displayed on the game stream or on the team's social media channels when a player makes an impressive play.
Michael Sonnenshein, the head of Grayscale Investments, predicts that a decision on allowing GBTC to become an exchange-traded fund (ETF) is possible in the third quarter of this year.
The bankrupt crypto lender Celsius claims to have already prepared $25 million worth (although probably now smaller) of crypto assets that clients will be able to withdraw.
Coinbase has launched a service called Wallet as a Service that helps other companies create crypto wallets for their clients and integrate them into their systems and applications.
Balvi Philanthropic Fund led by Vitalik Buterin donated USDC 15 million to the University of California, San Diego for research on "airborne disease in changing climate", while altcoin creators continue to send Vitalik their coins and he immediately sells them, earning hundreds of thousands of USD in recent days.
Rostin Behnam, the head of the US Commodity Futures Trading Commission (CFTC), stated yesterday that ETH and stablecoins are commodities.
Germany's market regulator BaFin also said it does not yet see any NFTs that could be subject to securities regulation.
Swiss-based hardware wallet manufacturer Shift Crypto has announced a long-term partnership with Swiss bitcoin broker Pocket Bitcoin to provide an easy and secure way to buy and store self-custodial bitcoin.
In the market, there is concern and speculation about what will happen to the almost 10,000 BTC (worth $217 million USD) that the US government transferred to Coinbase yesterday. This transfer is unusual in that the US government has previously sold confiscated cryptocurrencies at auctions.
Meanwhile, the largest creditor of the bankrupt BTC exchange Mt. Gox, The Mt Gox Investment Fund, has confirmed that it does not plan to sell the BTC that it is due to be returned to them this year, likely in September.
Economics Nobel laureate Paul Krugman earned another "prize," as he encountered hostility from Venmo, a payment company owned by PayPal, as it did not allow him to make payments.
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CryptoCompare calculates that Binance crypto exchange's share of the market increased for the fourth consecutive month in February and exceeded 59%.
Bitcoin Magazine has announced a partnership with River Financial to provide its readers the ability to purchase BTC via the Bitcoin Magazine App.
Asia’s first Bitcoin and Lightning Network conference will take place in Da Nang, Vietnam, March 22-24, 2023 at the Furama Resort.
Zeus Lightning Network wallet released version 0.7.3.