Westpac, Australia’s oldest bank, announced a ban on cryptocurrency transactions to certain exchanges on May 18. The bank said that it is blocking a number of crypto exchanges as part of a trial to “reduce scam losses.” According to internal Westpac data, half of all scam losses come from investment scams, and one-third of all […]
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Silicon Valley Bank former CEO Greg Becker blamed the bank’s failure on an unprecedented bank run following rumors about the bank and the Federal Reserve’s interest rate hikes. In a May 16 testimony before the US Senate Banking Committee, the former bank executive claimed that social media fueled the bank run — adding that no financial […]
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