Press Releases TheBitTimes.com

After leading Zodia’s series A funding round, the Japanese financial conglomerate SBI Holdings became its second-largest shareholder. Global Banks continue to expand their crypto currency-related capabilities, with the British multinational bank Standard Chartered raising new Funding for its crypto platform Zodia. Standard Chartered-backed crypto custody subsidiary Zodia Custody has raised $36 million in a new series A funding round, Bloomberg reported on April 27. Japanese financial conglomerate SBI Holdings has led the fund raise , becoming Zodia’s second-largest shareholder, Zodia Custody CEO Julian Sawyer reportedly said. Prior to the Funding round, London-headquartered Zodia was backed exclusively by Standard Chartered and Northern Trust, with Standard Chartered owning a 90% stake in the firm. It still remains the majority shareholder following the fund raise , according to Sawyer. Zodia CEO emphasized that it’s typical of Standard Chartered’s ventures strategy to raise external...

Bitcoin's price surged to surpass the $28,000 zone, marking a 16% boost in value in the past 7-days At the time of writing, the leading cryptocurrency is trading at $28,063, a 2.4% increase in the past 24 hours. The price reached $28,459 at its highest point during the day, before trading at $26,877 during the day's low. Overall this week, Bitcoin has gained over 37% against the U.S. dollar. Bitcoin's market capitalization added $194 billion in 2023, representing a 66% gain year-to-date, outperforming Wall Street banks stocks especially as fears of a global banking crisis are rising. United States bank valuations have slid amid the ongoing fear surrounding regional banks in the country following last week's developments, including the shut down of Silvergate, followed by regulators' subsequent takeover of Signature Bank and Silicon Valley Bank. Bitcoin's (BTC) price surged on March 19 to surpass the $28,000 zone, marking a 16% boost in value in the past 7-day...

The financial landscape is currently plagued by the banking sector crisis. The unanticipated, abrupt shutdown of a string of well-known banks in a short period of time has taken people by surprise. To calm down the situation, and assist the institutions in need, regulators have adopted several measures. The Federal regulators have indicated that they will continue supporting the distressed sector. The Federal Reserve reportedly “stands ready” to provide liquidity via the discount window to all eligible institutions. JUST IN: Fed eral Reserve says it stands ready to provide liquidity to eligible institutions. — Watcher.Guru (@WatcherGuru) March 16, 2023 In the face of adversity, U.S. Banks have already borrowed a record-high amount from the Fed . As reported earlier, a total of $164.8 billion has been scooped by financial institutions via two Fed backstop facilities over the past week. Out of the total amount, around $152.85 billion was borrowed through the discount window or th...

Blockchains aren’t meant to provide big banks with another venue for imposing new fees on users. Only one of the following news items is real, but someday, all will sound equally comical. Headline, 1896: The owner of Wagoneer & Sons, a leading horse-drawn carriage maker, has announced the adoption of a new machine called the “internal combustion engine” to improve its manufacturing process. “Gas engines are powerful but dangerous,” the owner said. “We will use them to make better wagons. Headline, 1918: The American Association of Candle Makers has announced a new initiative to electrify its wax-making process. It believes that electricity is too dangerous to use for lighting but can be utilized to make cheaper candles. Headline, 1989: The United States postal service will adopt a new Technology called “the internet” to speed up the sorting and delivery of letters and postcards. Headline, 2022: The CEO of a major investment bank argues that blockchain, a technology invented to eli...