European Central Bank Unveils Big Interest Rate Hike [ Crypto Espresso 3.16.23 ]

My God this is quite the episode of Crypto espresso your teeny tiny daily Shot of caffeinated crypto headlines I'm Your host Andrew and oh yeah it's Thursday I normally give you an obscure Holiday to celebrate uh Panda day it's Panda day go find a Panda and give him a Hug or something okay okay news time First up Sam bankman freed has asked Ftx's New Management to put him in Charge of the payout list and cover his Legal expenses the 30 year old wants Access to the exchange's director and Officer insurance policies which are Worth 10 million dollars if this request Is granted by the bankruptcy court he Could receive millions of dollars before Anyone else caught up in the proceedings Gets a dime SPF is facing 12 charges Including multiple counts of Fraud and Conspiracy as well as anti-money Laundering and campaign Finance law Violations in relation to the alleged Theft of 10 billion dollars worth of FTX Customer funds to prevent his private Trading firm Elementor research from Going bust an exiled Chinese businessman With ties to ex-trump advisor Steve Bannon has been charged with defrauding Invest Masters out of a billion dollars Guo Wang GUI is accused of creating a Gold-backed coin and claiming it had Surged from 10 cents to 27 within two Weeks prosecutors claim that he used

Ill-gotten gains on buying Mansions Yachts and Ferraris not to mention two Thirty six thousand dollar mattresses And a 62 000 TV the sec's enforcement Director Gerber Grewal said guo took Advantage of the hype and Allure Surrounding crypto and other Investments To victimize thousands and fund his and His family's lavish lifestyle Incidentally Bannon was arrested on Guo's yacht back in 2020 after being Charged with siphoning money from the we Build the wall fund which was collected To establish a barrier between the U.S And Mexico the European Central Bank is Increasing its base interest rate by 0.5 Percentage points despite a crisis that Is gripping the banking sector there has Been speculation that economists in Brussels would opt for a smaller Increase given the crises triggered by The collapse of three U.S financial Institutions last week Panic has now Spread to Credit Suisse which has Uncovered material weakness in its Financial reporting meaning that it has Needed to borrow 54 billion dollars While the ECB said that Europe's banking System is resilient it did warn that Inflation is projected to remain too High for too long all eyes will now be On the Federal Reserve in the U.S which Is expected to introduce its own rate Hike next Wednesday two key upgrades on

The ethereum blockchain Shanghai and Capella will soon allow ethereum Validators to withdraw their staked eth For the first time since 2020 but Coinbase has warned that those wishing To do so should expect delays that could Last weeks or even months while the Merge has been successfully completed 17.6 million eth with a current market Value of 29.2 billion dollars remains Just out of reach since the ethereum Protocol controls the unsticking process And where simply the conduit we can't Share an exact waiting period when you Request to unstake The Exchange Explained it also stressed that those Who want to continue staking won't need To take any action once the upgrades Come into effect financial institute Tuitions that are interested in Acquiring Silicon Valley Bank and Signature Bank have until tomorrow to Put in a bid according to reports but Reuters has claimed that any buyer who Snaps up signature must agree to give up All of its crypto business prompting Allegations that the Federal Deposit Insurance Corporation is trying to Further isolate the digital asset Markets from traditional banking after The story was published in FDIC official Challenged this and said it would not Require divestment of crypto activities As part of any sale the corporation's

Chairman Martin grunberg has previously Stressed that his agency wasn't trying To limit particular banking activities Federal agencies have been accused of Using the current banking crisis in the U.S to choke off digital assets Republican Congressman Tom emmer claims That the Biden Administration is pushing American crypto firms and their American Customers into offshore unregulated Opaque and unsafe markets this claim Comes after a week where silvergate Bank Announced that it was winding down with Svb and signature banks shuttered by Regulators he now wants to know whether The Federal Deposit Insurance Corporation has instructed Banks under Its supervision to avoid providing Crypto firms with banking services or Hinted that life will be more onerous For those with clients in the digital Asset space and finally a Bitcoin mixing Service has been shut down by law Enforcement agencies in the U.S and Germany chip mixer's alleged operator Min Kwok Yin has also been indicted but He is yet to be arrested over 1900 Bitcoin has also been seized as well as Seven terabytes of data officials say That the international operation has Disabled a prolific cryptocurrency mixer Which has fueled ransomware attacks State-sponsored crypto heists and dark Net purchases across the globe it's

Believed that over the past five years Chipmixer has been relied upon for North Korean hackers Russian military Intelligence and dark net sellers of Drugs and other illicit products the US In particular has been aggressively Clamping down on coin mixers as of late And speaking of mixing here's a few Things that do mix liking this video Subscribing to our YouTube channel and Clicking on that little bell icon to get Buzzed whenever a new crypto espresso Video goes live oh they go together like Peas and carrots thoughts on today's Episode well I don't know what to tell You comments are still disabled cry into Your pillow questions about our Headlines or crypto in general why not Take the plunge to the description below And ask Alex Alex is always a great Resource for all things web 3 and the Metaverse and that about does it for Today again I've been your host Andrew These have been your headlines and we'll See all of your beautiful shining faces Tomorrow