The Disrupt Weekend

“On weekly timeframes, BTC/USD is in line for an impressive candle close, having last acted around $27,000 in June 2022. Rekt Capital highlighted the ongoing significance of the 200-period moving average (MA) on weekly timeframes, currently sitting at $25,350 and primed for a resistance or support flip.

BTC has finally broken out from its Accumulation Range.”

UBS Group doubled its initial offer and agreed to buy its competitor Credit Suisse for nearly $2 billion on March 19, in a historical deal for the two biggest banks in Switzerland, the Financial Times reported.

To close the deal, Swiss authorities also agreed to change the country’s regulations to bypass a shareholder vote and announce the deal over the weekend, ahead of the markets opening.

Also, as part of the deal, the Swiss National Bank (SNB) committed to provide over $100 billion in liquidity line to USB. According to the FT, the deal was heavily influenced by the SNB and the Swiss Financial Market Supervisory Authority (FINMA). United States and European regulators are said to have approved the deal, with coordinated statements to be released later on Sunday.

Swiss authorities considered alternatives to Credit Suisse in case the deal with UBS failed over the weekend, including a full or partial nationalization of the bank as an emergency option.”

See Also: Fed Panics, Announces “Coordinated” Daily US Dollar Swap Lines To Ease Banking Crisis
See Also: US midsize banks seek FDIC Insurance on ‘all deposits’ for 2 years: Report
See Also: More than 186 US banks well-positioned for collapse, SVB analysis reveals
See Also: SVB’s UK arm issues 15M pounds in bonuses after symbolic bailout: Report

“As crypto firms in the U.S scramble for alternatives to Silvergate and Signature Bank, an opportunity to capitalize on the calamity presents itself for Europe.

The longer it takes U.S banks to declare they’re open for crypto business – i.e., receptive to taking in some of the millions of dollars once parked at Silvergate – the more likely it is that crypto firms could choose somewhere like Europe with more regulatory clarity and easier fiat payment rails.

Regulatory clarity in Europe in the form of MiCA, the Markets in Crypto-Assets Act, paints a stark contrast to the ambiguity in the U.S., where firms face new regulatory headwinds seemingly every day. This creates an increasingly challenging environment for the operations of any crypto organization. For new and existing market entrants this is going to be a significant consideration.

In addition, it seems that U.S. policymakers are doing their best to suffocate dollar on-ramps into crypto, leaving the door wide open for the rest of the world to gain a competitive edge over the U.S.

Early indicators are that the euro may be a big winner of a U.S. crypto banking cutoff, with volumes spiking for the BTC-EUR pair as the Silvergate troubles ensued. The bitcoin-euro pair hit its highest level of market share against the U.S. dollar ever, rising to 21% of BTC volumes last week from 7% in November.”

“Web3 operates on transparency, traceability, and most importantly: verifiability. In order to be fully integrated as a tool for Web3, AI has to be verifiable.

For AI to become reliable and trusted, you need to ensure that the data being fed into it is accurate and it hasn’t been tampered with.

The CTO’s firm, which landed $20 million in investment led by Microsoft’s M12 Fund, is focused on doing precisely this. Space and Time has rolled out a unique protocol called Proof of SQL to help verify that incoming data has been untampered with. This allows an external verifier, such as a smart contract or an oracle network, to “double-check” the data warehouse.

The consequences of an AI trained on malicious or inaccurate data could be disastrous.”

See Also: OpenAI co-founder’s ‘World ID’ project launches, along with SDK waitlist
See Also: Finding Alpha in AI-Related Crypto

“In a March 16 Reddit post on the r/ethereum community titled “How I think about choosing guardians for multisig and social recovery wallets,” Buterin gave a detailed run down of how he approaches wallet security.

According to Buterin, it’s important to decentralize wallet guardians, as owning more than one of your guardians provides a ‘tricky tradeoff: you get to trust other people less, but you’re also concentrating more power into yourself, which can create a risk if you get hacked, coerced, or incapacitated or die.’

Buterin went on to advise that someone’s set of guardians should not know of each other, as this “greatly reduces the risk that they collude” to attack their wallets and assets. Additionally, the Ethereum co-founder suggested that people should “instruct guardians to ask a security question” that only they and the guardian will know when confirming an operation — and only confirmed when the correct answer is given.”

“Fortnite developer Epic Games expects to add a flurry of crypto-powered games to its marketplace by next year. Epic Games executive Steve Allison recently told Axios the brand currently has five crypto games in its marketplace and there are plans for nearly 20 more.”

“Long story short, there was someone planning to launch a LLAMA token without approval of a single person on the defillama team. There is an ongoing attempt to launch a token that does not represent us. We don’t want to be associated with it.

According to 0xngmi, a person controlling both defillama’s Twitter and domain decided to launch a token ‘despite everybody in the team not wanting it,’ said the developer before adding that ‘the DefiLlama team who have built the site […] for the past three years have decided to fork Defillama and start fresh on'”

On March 18, roughly 3,000 Ether (ETH) ($5.4 million) were returned to Euler Finance’s deployer address from the Euler Finance hacker’s address. However, chances that the hacker will return the entire loot of $197 million remain slim, as no more outbound transactions were recorded at the time of writing.

On March 16, Euler Finance announced a $1 million reward to track down the hacker and retrieve the funds.”

Joselit Ramirez, the top authority on cryptocurrency policies in Venezuela, has been arrested, according to Venezuelan media, under investigation for participating in a scheme to steal from Venezuela’s oil operations.

According to an Official Gazette published by the Venezuelan government on March 17, his removal affects not only Ramirez but also a significant portion of the institution’s management staff, as it calls for a comprehensive restructuring of the National Superintendency of Crypto Assets and Related Activities (SUNACRIP).

Últimas Noticias explains that Venezuelan authorities are investigating a corruption scheme through which $3 billion from Venezuelan oil sales were diverted so as not to appear in the official accounts of the Venezuelan government.

To coordinate the restructuring of SUNACRIP, a mixed commission was appointed, consisting of a president and four directors endorsed by Maduro who will be supervised by the Ministry of Economy, Finance, and Commerce.”

Crypto VS Banks (Meme)