“The crypto #community is really full of an #eclectic group of people.”

Global banking giant #HSBC is coming to rescue the United Kingdom-based branch of the collapsed #Silicon #Valley #Bank with a new acquisition.

The #company added that the acquisition would be #funded from existing resources and would be completed immediately.

Those banks saw uneven #recovery when trading resumed, with Regions #Financial and Zions Bancorp springing back, and the others rising slightly.

The banking crisis may affect the #crypto industry even after prices stabilize, as the failed #Silvergate and Signature banks were crypto-friendly, unlike many traditional banks.

#despite having over $200 million in exposure to Silicon Valley Bank, #Bloomberg reported.

DBS also offers a separate financial tool, which it calls the #DBS Digital #Exchange and is backed by the #bank. 

Cross River, a U.S.-based #financial services firm, offers #crypto solutions to #fintech companies. 

Therefore, it is #essential for investors to carefully consider such risks and conduct their due #diligence before investing in any DeFi project.

For instance, the market volatility of #cryptocurrencies can create #significant risks for those investing in DeFi platforms. 

#However, DeFi also has its share of risks that #should not be neglected

The GFC and the collapse of SVB #highlighted the risks of #centralized financial systems, leading to an increased interest in the decentralization of banking.

 introduced the world to #decentralized currency and challenged the #centralized banking system.

#Decentralized finance (DeFi) enables #financial systems that are transparent, secure and accessible to all.

In this case, the bank’s CAR is 15%, which #indicates that it has sufficient #capital to cover its potential losses from its lending and investment activities.

For #example, if a bank has Tier 1 capital of $1 billion, Tier 2 capital of $500 #million and risk-weighted assets of $10 billion, the CAR would be:

The risk #weighting determines the sum of the #bank’s assets and varies for each asset class, such as cash, debentures and bonds.

Risk-weighted assets are a bank’s assets #weighted by risk, with each asset class #assigned a risk level based on its likelihood to decrease in value

 Tier 2 is #supplementary capital, including revalued and #undisclosed reserves and hybrid securities.

The Bank of #International Settlements separates capital into Tier 1 and Tier 2, with Tier 1 being the primary #measure of financial health, including shareholder equity and retained earnings.

 A good CAR #indicates that a bank has enough capital to absorb losses and avoid insolvency, #protecting depositors’ funds.

The capital #adequacy ratio assesses a bank’s ability to pay #liabilities and handle credit and operational risks.

For example, let’s say a bank has loan loss #provisions of $100 million and #nonperforming loans of $50 million. The loan loss provisions coverage ratio for this bank would be:

This is the ratio of a bank’s loan loss #provisions to its non-#performing loans. It reflects the bank’s ability to cover potential loan losses with its provisions.

 In #general, a lower cost-to-income ratio is preferable since it shows that the bank is more #profitable and efficient because it can generate more income with fewer expenses.

This means that the #bank spends $0.50 on operating costs for every dollar of #operational income it generates.

For example, let’s say a bank has total #operating expenses of $500 #million and a total operating income of $1 billion. The cost-to-income ratio for this bank would be:

This is the ratio of a bank’s #operating costs to its operating income. A lower ratio #indicates higher efficiency and profitability.

This example #illustrates how non-performing loans can have #significant implications for a bank’s financial position, and why it is crucial for banks to manage their loan portfolios effectively to minimize the risk of such loans.

 As a result, the bank’s loan #portfolio would drop to $930 million, which would have an #effect on the bank’s profitability and capital adequacy ratios.

Let’s now #imagine that the bank must write off these non-#performing loans because it will not be able to recover $20 million from them.

If the bank has to set aside a #provision of 50% for these non-#performing loans, it would need to allocate $50 million toward provisions. This means that the bank’s net loan portfolio would be $950 million.

Let’s say a bank has a $1-billion loan portfolio. Because the #borrowers have missed #payments for more than 90 days, $100 million (or 10%) of these are classified as non-performing loans.

This is the ratio of the bank’s non-performing loans to its total loans. A high NPL ratio #indicates higher credit risk and #potential loan losses.

#Suppose that Bank B has a net income of $4 million and #shareholders’ equity of $20 million. Now, its ROE will be:

This measures the #profitability of a bank in relation to #shareholder equity. A higher ROE indicates better performance.

Nguyễn allegedly #promoted ChipMixer online and advised #customers on how to avoid Know You Customer (KYC) and Anti-Money Laundering (AML) measures.

In addition, #ChipMixer serviced American customers without #registering with the U.S. Treasury Department’s Financial Crimes Enforcement Network or collecting KYC/AML data.

The Justice #Department linked ChipMixer to a number of illegal activities #between August 2017 and March 2023,

#Cybercrime seeks to exploit boundaries, but the Department of Justice’s network of alliances #transcends borders and enables disruption of the criminal activity that jeopardizes our global cybersecurity

The Justice #Department linked ChipMixer to a number of illegal activities #between August 2017 and March 2023,

including #facilitating the laundering of $17 million in #Bitcoin (BTC) connected to #ransomware attacks.

it also helped #launder over $700 million in #Bitcoin connected to wallets flagged as #containing stolen funds,

 #including funds from the Axie Infinity Ronin Bridge and #Harmony Horizon Bridge exploits, and over $200 million in #Bitcoin associated with the darknet, as well as the Bitcoin used by the Russian General Staff Main Intelligence Directorate to buy malware.

Elliptic said it had #analyzed the mixer’s blockchain transactions and found, #ChipMixer has been used to launder over $844 million in #Bitcoin that can be linked directly to illicit activity — including at least $666 million from thefts.

ChipMixer was already known to #international law enforcement. Its #processing of stolen funds was noticed at least as early as 2019.

#Cointelegraph’s Turner Wright and Rudy Takala discussed the recent events at #ETHDenver on the Decentralize with Cointelegraph podcast.

On this #episode of #Decentralize with Cointelegraph, United States policy reporter Turner Wright and #opinion editor Rudy Takala speak to listeners about their experiences at the ETHDenver conference from Feb. 24 to March 

#Wright arrived in time to interview industry experts, check out a “hacker house” and watch #developers go through BUIDLWeek. 

Takala talks about the #highlights of #ETHDenver and how it #compared with, in his opinion, better-organized conferences.

Can’t trust ‘AFL’s Dallas #Cowboys’; fears for Hawks coach, team that ‘must #play finals’: Mega preview

#Six pundits have tipped the Roos to finish 18th again... but two key factors could #catapult them

#AFL champ’s wild #Brownlow tip finished 75th last year... a ‘next level’ gun has even more support

‘Get f***ed’: #AFL great reveals wild #new details over sacking... and lifts lift on #THAT viral moment

#England fall to T20 series defeat against !#Bangladesh

LIVE. WSL: Watch #Chelsea 1-0 Man Utd - Kerr close to #doubling lead

That's just about everything from today's game as #Bangladesh chalked up #back-to-back #T20 victories over England to take the series 2-0.

This includes a wire #transfer request made before SVB’s FDIC receivership. A $3.3 billion cash #exposure remains — but we follow state and federal regulatory guidance.”

Circle #confirmed that the wire #transfers were not wholly processed, with $3.3 billion of USDC reserves still with SVB.

On March 9, #Circle initiated a wire transfer to remove its funds from SVB as the Federal #Deposit Insurance Corporation-insured bank was about to shut operations. However, two days later, on March 11

Such a move #highlights the difficulty centralized crypto companies face now that #Silvergate no longer provides them with round-the-clock banking services.

SVB — one of the 20 largest banks in the U.S. — #provided financial services to several #crypto-focused venture firms, including Andreessen Horowitz and Sequoia.

Notably, before the #announcement, USDC was sitting below its $1 peg at $0.98 as per #CoinGecko data; however, promptly after, the price dropped significantly to $0.93 at the time of writing.

to #things that don’t align with your goals, following your energy, #practicing positive thinking, and staying mindful.It’s #important to remember that change takes time and effort, so don’t expect to see #immediate results. 

#Remember that it’s okay to make mistakes and have setbacks along the way. The #important thing is to keep going and stay committed to your

focus on your breath. Notice any #thoughts or #feelings, and observe them without judgment. Another way to stay mindful is to be fully

Small habits can have a #massive impact on your life. You can create a more #fulfilling and balanced life by saying”no”

The bank said it would be #closing its exchange network on March 3, claiming the #termination was a “risk-based decision.“

Many crypto firms, #including Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital, announced in March they would cut ties to the bank #following an investigation into Silvergate’s alleged involvement in the collapse of FTX. 

#According to the company, the Silvergate Bank liquidation plan included “full #repayment of all deposits".

In a March 8 #announcement, Silvergate Capital Corporation said the decision to shutter operations was “in light of recent industry and #regulatory developments

The parent company of #Silvergate Bank, known to many in the space as one of the major #crypto banks, has announced plans to “wind down operations” and liquidate the bank.

The #company claimed that the bank's voluntary liquidation is its best path #forward due to recent industry and regulatory developments.

The #Financial Services and Markets Act was introduced into Parliament in July and amended in October to expand crypto #regulatory provisions.

Most British #crypto holders own no more than “several hundred pounds’” worth of #cryptocurrency, he added.

but not #eliminate the risks posed by cryptocurrency. Rathi said, “We are not going to be able to put in place a #framework that protects consumers from losses.”

The #Financial Services and Markets Act, when passed, would give the FCA new regulatory #powers over the crypto currency industry, 

but said public #policy issues such as money laundering cannot be tackled without #regulation.

When asked if #regulation “undeservedly #legitimizes” crypto, Alder responded, “I agree,

The #interesting aspect to this is the degree to which crypto would need to adapt and #effectively detoxify in order to fit within that regime

If the #principle of “same risk, same regulation” were applied to crypto #businesses, Alder said:

Alder #responded that globally “this is not going to be looked at from a regulatory #perspective other than by financial regulators.” Financial regulation “needs to be appropriately tough,” Alder added.

Former FCA chair #Charles Randell sent a letter to the committee saying “speculative #crypto is gambling pure and simple and it should be regulated and taxed as such

He and CEO Nikhil Rathi answered #questions on predatory lending, mortgage rates and a number of other topics before #addressing crypto in the final minutes of the hearing.

To allow CBDCs to compete favorably with other payment #platforms, central banks are embedding several functionalities into their #experiments

 Top of the list for the central banks is cross-border payment functionality, a feature that several #Southeast Asian countries are #considering

#Furthermore, the digital yuan has been integrated with the red envelope feature to allow users to send #customary Chinese New Year gifts to family and friends

Soochow #Securities announced that it is now possible to use digital yuan to purchase securities, while the People’s Bank of China (PBoC) has made #significant progress with contactless payments

To learn more about central bank digital currencies and some of the #design decisions that need to be considered when creating and launching it, read nChain’s #CBDC playbook

The founders of Singaporean digital asset lender #Hodlnaut have been courting investors in a bid to sell the collapsed company rather than liquidate it as #proposed in January.

Even sharing that the #Blockchain #Council could be of service regarding this matter

“Maybe the #Blockchain Council can sit as part of the #technical working group. We can bring in our experts so you know where to go…We

As an #independent body, as a collegial body, can now come in and help you,” he stated. “We’re not a for-profit or trade #organization

#Ourintent is to hasten the adoption of blockchain because we believe that it’s the #technology that will fuel the next generation

Lim added that their goal for the #Philippine Blockchain Week and the council is to make the Philippines a #blockchain capital

“When I ventured into this space, it’s really a bit #chaotic. It’s a pocket of #communities, but they don’t talk to one another

 The #government wants to regulate, but they don’t know what to regulate [since] they don’t #understand [the space

 Hopefully, the #Philippine Blockchain Week is really a #unifying platform for all of them to be in one room to understand

And when we leave the #Philippine #Blockchain Week, [hopefully] more working groups [could be created

Lim admits that this path will be #challenging, and the #conference will only solve some of the problems in the space