The Federal #Deposit Insurance Corp. says Silicon Valley Bridge Bank’s $72 billion in assets will be purchased by First Citizens at a discount of $16.5 #billion.

First Citizens to Buy Silicon Valley #Bank's Deposits, Loans in $55.5B Agreement With #FDIC

The Fed’s current #projection of the terminal interest rate in 2023 is 5.1%, same as the #projection in December 2022, indicating that one more rate hike in 2023 could bring the Fed’s tightening cycle to an end.

Analysts at the #CME Group expect a 83.2% chance the Fed will keep rates at 4.75% to 5%. The chance of another 25 basis-point hike is at 16.8%, down from 34.2% on #Friday.

The Federal Reserve will meet on May 3 to make its next move on interest rates to tackle inflation. #news #blog

In the week ahead, the #U.S. Congress on Wednesday will hold a hearing on Silicon Valley #Bank and Signature Bank, which both failed this month, and data releases are expected on U.S. inflation and #GDP growth.

Dow Jones Industrial Average futures moved up 0.36%. S&P 500 futures gained 0.37%. The Nasdaq #Composite Index futures edged up 0.24%. #news 

Ahead of the opening of #U.S. equity markets on Monday, stock futures rose as of 9:00 a.m. in #Hong Kong

#banking system remains sound and resilient.” Other officials from #U.S. President Joe Biden on down have repeated the same in recent weeks.

On the same day in the #U.S., the Financial Stability Oversight Council said that although “some institutions have come under stress, the #U.S.

Despite the gains, bank worries remain. Deutsche #Bank, the largest lender in Germany, saw the cost of its default insurance jump on Friday, triggering an 8% sell-off in its stock, according to #CNBC. 

All three indices logged gains after a volatile week #characterized by wobbly #banks and the Federal Reserve’s latest 25-basis-point rate hike.

#U.S. equities closed higher on Friday. The Dow Jones Industrial Average rose 0.41%, the S&P 500 gained 0.56%, and the Nasdaq #Composite Index moved up 0.31%. 

The index is a proxy measure of the performance of the global #NFT market and includes 500 eligible smart contracts on any given day. It is managed by Forkast sister company, #CryptoSlam. 

In the non-fungible token (#NFT) market, the Forkast 500 #NFT index dropped 1.52% in the past 24 hours to 4,024.34 as of 09:30 a.m. in Hong Kong, moving down 2.66% for the week.

The total #crypto market capitalization rose 1.34% in the past 24 hours to US$1.17 trillion. Total trading volume over the last 24 hours dipped 4.67% to US$31.46 #billion.

#Litecoin led the winners for the past 24 hours, gaining 1,85% to US$93.57 and up 12.39% for the week. #news

#making it the first zero-knowledge scaling system for Ethereum that was opened to general users. #news

Ether moved up 1.61% to US$1,780, a weekly gain of 0.16%. Ethereum developer Matter Labs launched the #mainet of zkSync Era on #Friday,

Maxwell Goldstein, cofounder of on-chain fine art investment platform Freeport, told Forkast.#News on Friday. Due to fears of inflation, “investors are absolutely seeking a safe haven asset and #Bitcoin fits the bill

Traders are flocking to #Bitcoin and similar assets to diversify their holdings. Recent bank failures have also strengthened the case for investing in #Bitcoin, along with murmurs of hyperinflation,

Trading turned #choppy later in the morning and it moved above and below that line.   #news

#Bitcoin rose 1.69% to US$28,026 in the 24 hours to 09:00 a.m. in Hong Kong, adding 0.37% for the week, according to CoinMarketCap data. The world’s largest #cryptocurrency dipped below the US$28,000 resistance level over the weekend, and bounced back above it early on Monday.

#U.S. equity futures rose this morning as authorities sought to reassure investors the financial system is sound following bank failures and sharp declines in some lender’s #stocks. 

#Bitcoin and the other top 10 non-stablecoin #cryptocurrencies opened the working week with gains in Monday morning trading in Asia, as investors seek to diversify portfolios amid #banking turmoil and the Federal Reserve’s latest rate hike. Litecoin led the winners. 

#Bitcoin gains as investors diversify amid worries about banking system; #U.S. equity futures rise
 

According to their tweet, The #Bitcoin Researcher has based their findings on the assumption that coins which have not moved for the past seven years are lost. #news

However, in their response to Peterson’s latest tweet, a user going by the name of The #Bitcoin Researcher insisted that the number of #BTC in circulation is in fact 15.5 million.

 The 13 million circulating now is probably all you will have access to in your lifetime,” Peterson explained in the #tweet. #news

“This means 13.3 million remain with only 1.7 #million left to be mined over the next 100+ years. In that time, it’s almost certain that another million will be lost, and old coins are being lost as new coins are being created. #news

 In the tweet, he also predicts a loss of one million #BTC in the next 100+ years. #news

While some #bitcoiners have either questioned or dismissed Peterson’s past claims including Cane Island’s April 16, 2020 research note, in his March 25 tweet the author appears to use the same findings to #back his latest prediction.

researchers at Cane Island also insisted that the widely used #BTC capitalization is inaccurate because it includes coins that are irretrievably lost. #news

Peterson claimed then that the ongoing loss of an estimated 1,500 #BTC per day meant only fewer than 14 million coins will ever circulate. In their 2020 note, #news

The author’s latest estimate of the number of #bitcoins that will ever circulate #appears to be in tandem with his 2020 prediction. As reported by #Bitcoin.com News in Sept. 2020,

In his latest #tweet on the subject, Peterson asserts that from the estimated 19.3 million #bitcoins that had been mined by March 25, 2023, only 13.3 million remain in circulation which is “probably all you will have access to in your lifetime.”

One Million Lost #Bitcoins
According to Timothy Peterson, an author and manager of Cane Island Alternative Advisors, the number of irretrievably lost #bitcoins has now reached 6 #million. 

Peterson added that out of the 1.7 million #bitcoins that will be mined in the next 100 years or more, one #million coins will be lost in the same period.

The number of irretrievably lost bitcoins has now reached 6 #million, which leaves 13.3 million as coins that remain in circulation, Timothy Peterson of Cane Island Alternative Advisors has said. #news

Number of Irretrievably Lost #BTC Now 6 Million — Cane Island #Manager

If you #buy #crypto assets and the price goes to #zero at some point, please don’t be surprised and don’t expect taxpayers to socialize your losses.

He added: “If people want to hold such an asset, then go for it. I wouldn’t do it, but I don’t collect #baseball cards, either.” However, the Fed governor warned: #news

If people believe others will #buy it from them in the future at a positive #price, then it will trade at a positive price today,” he described. “If not, its price will go to #zero.”

“To me, a #crypto asset is nothing more than a speculative asset, like a baseball card. #news

#Waller warned about the danger of investing in #cryptocurrency on Thursday at the Global Interdependence Center Conference on “digital money, decentralized finance, and the puzzle of #crypto.”

Please don’t be surprised and don’t expect #taxpayers to socialize your losses” when that happens, the Fed governor stressed. #news

#U.S. Federal Reserve Governor Christopher #Waller has warned that #crypto prices could fall to zero at some point. #news

Fed Governor Warns #Crypto Prices Could Fall to Zero — Says 'Don't Expect Taxpayers to Socialize Your #Losses' #news

Over the long-term, #bitcoin price has been in a secular uptrend of 2.3x annually over the past twelve years, on average. #news #blog

I think we’re done with that and beginning to grind higher.” Morehead further noted: #news #blog