Monat: März 2023

• ECB President Christine Lagarde has highlighted the importance of a digital euro in preserving European payment autonomy.
• The digital euro is intended to be safe, sovereign and widely available at the cheapest cost possible.
• The European Commission is expected to propose a legal framework by the end of June, with a decision on whether or not to proceed with the project coming later this year.

European Payment Autonomy

ECB President Christine Lagarde has emphasized the important role of a digital euro in preserving Europe’s payment autonomy. During a discussion devoted to central bank digital currencies (CBDCs), Lagarde warned against relying on single sources for critical aspects of daily life, citing Russia’s weaponization of energy supplies after its invasion of Ukraine as an example.

Digital Euro Features

The digital euro is being developed with the intent that it will be sovereign and safe, cheap and widely available. Lagarde pointed out that when looking at wallets and apps used for payments or cards used for payment, they are not necessarily European. A digital currency will never provide the same privacy as paper banknotes, she acknowledged.

Project Development

The project to issue a digital version of the euro is still under investigation which began in mid-2021. In December 2022, the ECB released a second report on progress made during this stage and in January 2023 eurozone finance ministers pledged support for the initiative. In November last year Lagarde said Brussels would soon put out draft legislation for CBDCs.

Legal Framework Proposal

The European Commission is expected to propose legal framework by end June 2021 and final decision on whether or not to proceed with project should come later this year. This framework will ensure that the digital currency remains safe, sovereign and widely available at cheapest cost possible while maintaining certain level of privacy similar paper banknotes offer.

Conclusion

In conclusion, ECB President Christine Lagarde has highlighted importance of introducing digital euro for preserving Europe’s payment autonomy while ensuring safety, sovereignty availability at lowest cost possible without compromising privacy offered by paper banknotes . EC’s proposed legal framework should provide clarity about proceeding with this project later this year .

• The U.S. government and the FDIC are auctioning SVB and SNBY, with bids due on March 17, 2023.
• Sources say that the qualifications to purchase these banks are stringent and bidders cannot deal with crypto businesses.
• There is controversy surrounding the alleged crypto restrictions for potential bank buyers.

Failed Banks SVB and SNBY Up For Auction

The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17th, 2023.

Stringent Qualifications for Buyer

Sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal with crypto businesses anymore.

Controversy Surrounds Alleged Crypto Restrictions

Last week, the second- and third-largest bank failures in America occurred within 48 hours of each other, and both banks are being sold this week via investment bank Piper Sandler Companies which is managing the auctions of both banks. The FDIC hopes to sell both SVB and SNBY in their entirety but partial offers will be considered as well. To purchase them however strict rules apply as only an existing chartered bank can submit an offer though bidders must not cater to cryptocurrency firms if they are to acquire SVB and SNBY according to sources familiar with the matter who spoke with Reuters reporters David French and Pete Schroeder .

New York State Department of Financial Services Response

This account of events stemming from unnamed sources contradicts a statement made by New York State Department of Financial Services who insisted that recent shut downs had “nothing to do with crypto” after former member of U.S House of Representatives from Massachusetts Barney Frank said he suspected it was an “anti-crypto” message which suggests his suspicions may be true if rules about purchasing SVB&SNBY hold up .

Conclusion

This article details that US government & FDIC have put up 2 failed financial institutions SVB & SNBY up for auction but has implemented stringent qualifications so only existing chartered banks can submit an offer while also having a no dealing policy when it comes to cryptocurrency firms which raised suspicions from Barney Frank who believes it could be an anti-crypto message yet NYDFS insists otherwise though there still remains some uncertainty around these claims

• Ethereum co-founder Vitalik Buterin allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000.
• Blockchain explorers show that the address associated with Buterin sold various low-liquidity coins from chains like Binance Smart Chain.
• Crypto speculators questioned the motives behind the token sell-off and criticized the move for tanking prices and draining liquidity.

Ethereum Co-Founder Vitalik Buterin’s Token Sell-Off

Observed Onchain Transaction

On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the airdropped tokens was shallow, and the relatively unknown ERC20 tokens plummeted in value after Buterin reportedly sold the funds.

Reaction From Crypto Speculators

Crypto Speculators Question Motives Behind Vitalik Buterin’s Airdropped Token Sell-Off According to a record of token transfers associated with an address labeled „VB,“ Vitalik Buterin appears to have sold a significant amount of ERC20 tokens that were airdropped to his address. Blockchain explorer statistics show that he sold billions of cult dao (CULT) tokens, billions of MOP, billions of kiboshib (KIBSHI), trillions of dingo (DINGO), and trillions of shikoku (SHIK) tokens. An onchain visual from Arkham Intelligence also shows that other unknown low-liquidity coins from chains like Binance Smart Chain (BSC) were also sold. Some speculated that Buterin may have sold the tokens for tax compliance purposes while others criticized him for tanking prices and draining liquidity instead of sending them to a burn address to destroy them.

Butterlin Donates $1 Billion Worth Of SHIB Tokens

In May 2021, Buterin donated $1 billion worth of shiba inu (SHIB) tokens to India’s Crypto Covid Relief Fund charity after being gifted the tokens during their initial coin offering (ICO).

Conclusion

Butterlin’s selloff caused shockwaves across crypto markets as investors struggled to comprehend why such an influential figure would take such action. While some speculated it was done for tax compliance reasons others felt it could have been handled differently by sending them to be burned rather than selling them off causing prices to plummet due to low liquidity levels. However Butterlin did eventually donate $1 billion worth SHIB token which was well received by many in the crypto community

• GameSwift has launched an all-in-one web3 gaming platform with a revolutionary passwordless sign-on system and inbuilt wallet to help bring gamers into web3.
• The platform aims to streamline onboarding processes, enable in-game transactions, and make it easier for even crypto newbies to explore the web3 world.
• The company has secured strategic partnerships with Polygon and Casper Network to accelerate the mass adoption of web3 games.

GameSwift Launches Web3 Gaming Platform

GameSwift has unveiled its all-in-one Platform for playing and building web3 games – featuring an innovative passwordless sign-on system with an integrated wallet that offers seamless onboarding for games and players.

Revolutionary Passwordless Sign-On System

The newly released GameSwift Platform comes with GameSwift ID – a revolutionary passwordless sign-on system with built-in wallet that simplifies onboarding processes for gamers seeking a smooth experience in the web3 world, even without blockchain knowledge. It also allows users to easily store passwords and seed phrases without fear, process transactions without prior knowledge, and access universal logins from services like Google or Facebook.

Strategic Partnerships With Polygon & Casper Network

GameSwift’s strategic partnerships with Polygon and Casper Network are aimed at accelerating the mass adoption of web3 games by providing an easy way for new players to discover quality information, navigate different chains, create wallets, enjoy zero gas fees gaming, cash out rewards via bankcard payments, and more!

User Friendly Solution For Mass Adoption Of Web3 Gaming

Thanks to this user friendly solution offered by GameSwift Platform, even those without blockchain knowledge can join the exciting new world of web3 gaming. With its comprehensive hub for gamers seeking an optimal experience in the decentralized space, it is well positioned to help drive mass adoption of this technology.

Conclusion

GameSwift’s innovative platform is designed to make it easier than ever before for mainstream gamers to explore the exciting world of decentralized gaming thanks to its user friendly features such as passwordless sign on system with integrated wallet and strategic partnerships with major industry players like Polygon and Casper Network.