Major coins traded lower on Sunday night as investors continued to digest crypto-friendly banks Silvergate Capital’s S.I Fail.
| cryptocurrency | Profits (+/-) | Price (8:30pm EST) |
|---|---|---|
| Bitcoin | -0.45% | $22,464 |
| ether | -0.98% | $1,567 |
| Dogecoins | -1.65% | $0.074 |
What happened: Apex cryptocurrency Bitcoin BTC/USD traded below $23,000 after a volatile trading session.
ether ETH/USD exchanged hands below $1,600. Dogecoins DOGE/USD was trading at $0.074, down 1.65% in the last 24 hours.
At the time of writing, the global crypto market cap was $1.03 trillion, down 0.68% from the last day.
US stocks rose on Friday as Treasury yields retreated from recent highs, as investors gauged the cumulative impact of the Federal Reserve’s already implemented rate hikes and this week’s central bank comment. The S&P 500 rose 1.61%, while the Nasdaq Composite rose 1.97%.
See more: Best Crypto Day Trading Strategies
News Highlights: Binance reportedly took a proactive approach in 2009 to avoid potential legal action from US authorities and developed a plan that included the creation of an American entity. According to a Wall Street Journal report, a Binance executive warned colleagues in a private chat that a potential lawsuit from U.S. regulators, which had signaled an impending crackdown on unregulated offshore crypto players, would have “nuclear consequences” for his business would be.
Securities and Exchange Commissions (SEC) Approaching regulation through “enforcement” is not a “healthy way” to regulate an industry, according to Ripple CEO Brad Garlinghouse. In a March 3 Bloomberg interview, Garlinghouse warned that the SEC’s current methodology puts the U.S. at “serious risk” of lagging behind in the future of blockchain and crypto innovation. He suggested that given the dynamic and rapidly evolving nature of the industry, this approach to regulation could make the US less attractive…
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