{"id":18627,"date":"2023-03-12T13:15:03","date_gmt":"2023-03-12T13:15:03","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/critics-call-warrens-silvergate-take-terribly-misinformed-svb-collapses-vitaliks-token-sell-off-moves-markets-and-more-week-in-review-the-weekly-bitcoin-news\/"},"modified":"2023-03-12T13:15:03","modified_gmt":"2023-03-12T13:15:03","slug":"critics-call-warrens-silvergate-take-terribly-misinformed-svb-collapses-vitaliks-token-sell-off-moves-markets-and-more-week-in-review-the-weekly-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/critics-call-warrens-silvergate-take-terribly-misinformed-svb-collapses-vitaliks-token-sell-off-moves-markets-and-more-week-in-review-the-weekly-bitcoin-news\/","title":{"rendered":"Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik\u2019s Token Sell-Off Moves Markets, and More \u2014 Week in Review \u2013 The Weekly Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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It\u2019s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on \u201ccrypto risk,\u201d and individuals on social media pointing out that Warren is \u201cterribly misinformed.\u201d Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank run and other troubles. In other developments, Ethereum co-founder Vitalik Buterin\u2019s address allegedly sold trillions of airdropped ERC20 tokens, causing negative price moves, and India-Russia oil deals could be challenging U.S. dollar dominance. All this and more, just below, in the Bitcoin.com News Week in Review.<\/strong><\/p>\n

\"Extreme<\/p>\n

Elizabeth Warren Blames \u2018Crypto Risk\u2019 for Silvergate Bank\u2019s Liquidation, Critics Dismiss Senator\u2019s Claims as \u2018Terribly Misinformed\u2019<\/h2>\n

After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution\u2019s downfall to \u201ccrypto risk.\u201d According to Warren, she had previously warned about Silvergate. However, some critics are dismissing Warren\u2019s opinion as \u201cterribly misinformed\u201d and claim that she is \u201ctossing out egregious accusations.\u201d<\/p>\n

Read More<\/strong><\/a><\/p>\n

\"Extreme<\/p>\n

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual<\/h2>\n

After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank.<\/p>\n

Read More<\/strong><\/a><\/p>\n

\"Extreme<\/p>\n

Ethereum Co-Founder Vitalik Buterin\u2019s Address Sells Trillions of Airdropped Tokens, Causes Illiquid Coin Prices to Plummet<\/h2>\n

On March 7, onchain observers noticed that Vitalik Buterin, the co-founder of Ethereum, had allegedly sold billions and trillions of airdropped ERC20 tokens, resulting in a gain of an estimated $700,000 in value. The market liquidity of the airdropped tokens was shallow, and the relatively unknown ERC20 tokens plummeted in value after Buterin reportedly sold the funds.<\/p>\n

Read More<\/strong><\/a><\/p>\n

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India-Russia Oil Deals Chip Away at Dollar Dominance in International Trade<\/h2>\n

On Wednesday, Reuters reported that Western sanctions on Russia and oil trading between Moscow and India have started to erode the dollar\u2019s decades-old dominance of international oil trade. The oil deals between India and Russia have been settled in other currencies, putting the U.S. dollar\u2019s dominance in the oil trade under pressure.<\/p>\n

Read More<\/strong><\/a><\/p>\n

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\nTags in this story
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China<\/a>, dedollarization<\/a>, Elizabeth Warren<\/a>, ERC20<\/a>, FDIC<\/a>, India<\/a>, OIL<\/a>, Sell Off<\/a>, Silicon Valley Bank<\/a>, Silvergate Bank<\/a>, SVB<\/a>, USD<\/a>, Vitalik Buterin<\/a><\/div>\n<\/div>\n

What are your thoughts on this week\u2019s stories? Be sure to let us know in the comments section below. <\/strong><\/em><\/p>\n

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\nBitcoin.com <\/h6>\n

\nSince 2015, Bitcoin.com has been a global leader in introducing newcomers to crypto. Featuring accessible educational materials, timely and objective news, and intuitive self-custodial products, we make it easy for anyone to buy, spend, trade, invest, earn, and stay up-to-date on cryptocurrency and the future of finance.<\/p>\n<\/div>\n<\/div>\n

Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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