#Ethereum Co-Founder Vitalik Buterin’s Address Sells #Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet

South Africa’s #power shortages as well as the country’s recent grey-listing by the #Financial Action Task Force (FATF) are believed to be fueling the rand’s slide.

The #exchange rate of the South African rand versus the U.S. dollar recently #plunged to a new 2023 low of 18.636 units for every dollar on March 7, 2023, the latest data has shown

Before the latest #plunge, the rand soared to 16.721 per dollar on Jan. 12, 2023, the currency’s best #performance since the start of the year.

However, since then, the rand has #depreciated by almost 10% making it one of the worst-performing #African currencies in 2023

#According to reports, the rand’s slide is blamed on South Africa’s unending #electricity woes which have seen many homes and businesses go for more than 10 hours without power.

The #debilitating blackouts have since prompted South African president Cyril #Ramaphosa to appoint the country’s first minister of electricity. 

Besides dealing with the #crippling power cuts, president Ramaphosa said the new minister, #Kgosientsho Ramokgopa, is expected to help facilitate the coordination of entities that are working towards finding a solution.

#Machine learning compares data sets across different regions and aligns #recommendations based on regional differences.

He was away from its #centre but it made him long for home. “I didn’t feel #safe at that point,” he said When the #Turkish earthquake struck last month he heard its rumble like a heavy #truck driving past.

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.”

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

In a brief and #straightforward message, crypto exchange Gemini denied rumors, saying its banking #relationship with JPMorgan remains intact.

Several U.K. venture #capitalists (VCs), including Index Ventures and Atomico, issued a joint #statement on Mar. 12 endorsing SVB UK. 

Silicon Valley Bank is one of the top 20 #largest banks in the United States, #providing banking services to many crypto-friendly venture firms

a failure on the tech bank would put in "risk of a run on #thousands of small banks", further #making the SBV situation a "main street problem," said Elliot.

Ackman said the only other way to #prevent this was in the “unlikely” event that major #financial institutions, such as JPMorgan Chase, Citibank or Bank of America, acquire SVB before Monday.