Home › Weekly Headlines › The TCB Weekly News Roundup, ending 19 February 2023

The TCB Weekly News Roundup, ending 19 February 2023

By Brian in Chicago on March 19, 2023 • ( 0 )

All systemic risks. Circle depegged hard as a result of SVB’s issues. Signature bank was taken down in a politicized more, we found out Credit Suisse’s spreadsheet is garbage, and Caitlin Long has a few good words on how higher reserve requirements would fix many issues.

If banks were better capitalized, there would be more confidence (and literally more reserve buffer) and it would take some truly bad risk judgement for a bank to go under.

Anyway, know your counter party risks.

Enjoy and be well, Everyone.

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The Week’s Posts
Tuesday Post- What Bitcoin Did: “The Truth About Nuclear Energy with Anthony Jared”

Thursday Post – Tomer Strolight: “Why Bitcoin, The Series, #25: Why Bitcoin Exists”

The Week in Videos ending 19 March 2023

Reports:

This Week In Twitter

NEW: Financial giant Fidelity officially opened retail #Bitcoin trading accounts to all customers 🙌 pic.twitter.com/K3UyiL9Rlu
— Bitcoin Magazine (@BitcoinMagazine) March 16, 2023

Always some good listening. https://t.co/XwyO7soJ7B
— B. Rocks (@TinyCryptoBlog) March 18, 2023

No one talking about a 715mb mempool? pic.twitter.com/2jD7Cxg3yx
— 0x146.gfy (@wasrichnowbroke) March 17, 2023

Largest Uninsured Deposits at First Republic Bank, $FRC:

1. Bank of America: $5 billion
2. Wells Fargo: $5 billion
3. Citigroup: $5 billion
4. JP Morgan: $5 billion
5. Goldman Sachs: $2.5 billion
6. Morgan Stanley: $2.5 billion
7. Truist: $1 billion
8. PNC: $1 billion
9. US… https://t.co/R0vVomyZH6
— The Kobeissi Letter (@KobeissiLetter) March 18, 2023

Bank run https://t.co/Vr5b7oYmfA
— 【 𝓓𝖗. 𝓥𝖔𝐱 𝓞𝖈𝖚𝖑𝖎 】 (@Vox_Oculi) March 18, 2023

The Oracle of Omaha don’t fuck for free. He loves taking “risk” with the American tax payers covering his downside. pic.twitter.com/jp0bTuEmvp
— Arthur Hayes (@CryptoHayes) March 18, 2023

Ironically, the government won’t allow a bank that doesn’t lend out customer deposits. Just two weeks ago, @custodiabank, a full reserve bank, was denied an account at the Federal Reserve. https://t.co/D0p5GX767j
— Wayne Vaughan (@WayneVaughan) March 19, 2023

Remember, the IMF's plan in a crisis is to seize assets from the public – suddenly.

It's getting harder and harder to ignore bitcoin pic.twitter.com/dOhz0bSNGn
— Dan McArdle (@robustus) March 16, 2023

Headlines

Adoption, Implementation and Infrastructure
–Orca DEX to block US users from trading with its interface
–Binance to lose its British pound on- and off-ramp provider in 9 weeks
–MetaMask addresses privacy concerns with new features for enhanced control
–Swiss Bankers Association proposes deposit tokens to develop digital economy
–BitGo patches critical vulnerability first discovered by Fireblocks

CBDCs (are just Surveillance Tokens)
*CBDC Tracker 1*
*CBDC Tracker 2*
–India, UAE to explore CBDC bridge to facilitate trade, remittances without USD

COMPANIES & PROTOCOLS
–Coinbase, Celsius and Paxos disclose funds in Signature Bank
–Marathon Digital: Deposits held at Signature Bank are secure and available

CRIMES AND SCAMS
–More than 280 blockchains at risk of ‘zero-day’ exploits, warns security firm
–DeFi sees its biggest hack in 2023 as Euler loses $197M

DeFi CeFi and Lending
–This Week In DeFi – March 17
–Decentralized exchange Uniswap hits record single-day volume

Exchanges
–Binance replaces BUSD in SAFU fund with TUSD and USDT

GOSSIP/OPINION
–Binance.US, Alameda, Voyager Digital and the SEC — the ongoing court saga

Mining and Energy
*Live Mining Statistics*
–Power Bitcoin Mining Management Software – Bitcoin Magazine
–A new nuclear reactor in the US started up last week — the country’s first in nearly 7 years.
–Solo Bitcoin miner defies odds to mine valid BTC block, gets $150K block reward

Nation States (and other political jurisdictions)

NFTs / Metaverse / Web3 / DAOs
–Nifty News: Doodles ‘no longer an NFT project,’ Playboy bares all on NFT earnings and more

Regulation, Legislation, Legal Matters & Taxation
–SEC Chairman Gensler Suggests Again That Proof-of-Stake Tokens Are Securities: Report
–Signature Bank investigated for money laundering prior to demise: Report [it’s still a politicized takedown]
–Former NY Regulator: Crypto Isn’t the Reason Why Signature Bank Was Closed
–State caps or federal regulation: What’s next for political crypto donations
–Crypto assets to become a separate category in UK tax forms

STABLECOINS
–Circle taps Cross River as banking partner, expands ties with BNY Mellon
–TUSD’s supply crosses $2B amid banking woes for stablecoin rivals

Taxation

Wall Street and Big Money
*BitcoinTreasuries*
*Bitcoin Worldwide (treasuries)*
–Bitcoin surges past $24,000 on CME launch of BTC event contracts

Time Capsule

Outside News

You Do Not Change Bitcoin. Bitcoin Changes You.
“Bitcoin will eat the world.” And it is.

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