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Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 27th April 🚨 💥First Republic Bank🔻 Bitcoin Up 🚀🔥 Coinbase sues SEC,❗ Bitcoin the future of payments 👀 Crypto is for illicit finance — US regulators (CFTC)
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27th April: Crypto & Coffee at 8
💥First Republic Bank🔻 Bitcoin Up 🚀🔥 Coinbase sues U.S. Securities and Exchange Commission,❗ Bitcoin the future of payments 👀 Crypto is for illicit finance — US regulators (CFTC)
💥 Reuters has reported that First Republic Bank’s market value plunged below $1 billion for the first time ever on Wednesday after a report said the U.S. government was unwilling to intervene in the rescue process, hammering the lender’s stock. The bank’s market capitalization at its peak in November 2021 was $40 Billion. As of today, it is currently at $886 million. Article here https://lnkd.in/dqSN7kt2
🚀 How did this impact Bitcoin?
Bloomberg reported that Bitcoin retook the $30k level due to US banking concerns. The article also explores crypto has been pitched as an alternative to traditional banking. https://lnkd.in/dCf84U7c
🚀 Bitcoin.com states customers withdrew around $100 billion in deposits from First Republic in March. Are we heading towards an era of separation of money and the state? Article here https://lnkd.in/dYuM8e6T
🔥 Coinbase took legal action against the SEC on Monday, asking a federal judge to force the regulator to share its answer on Coinbase’s July 2022 petition on whether existing securities rule-making processes could be extended to the crypto industry. Paul Grewal mentioned via Twitter
Coinbase has filed a narrow action in federal court to compel the SEC to do one simple thing: respond yes or no to Coinbase’s pending rulemaking petition that asks the SEC to provide overdue guidance for the crypto industry. The Official filing can be seen here https://lnkd.in/dd22T7gn
🔥 CNBC article has a great summary here https://lnkd.in/dyvzyVuY
❗ David Marcus, CEO of Lightspark in an interview with Decoder with Nilay Patel said that Bitcoin is still the future of payments and the article by The Verge here https://lnkd.in/dr2F3ikA states Crypto has a lot of haters these days. The former Facebook exec is trying to prove them wrong with his Bitcoin startup. Episode via Spotify here https://lnkd.i