First Republic Bank is on the edge of collapse, and US regulators are scrambling to find it a new home over the weekend faster than you can say "Bitcoin to the rescue!" Half a dozen banks, including JPMorgan Chase, Citizens Financial Group, and PNC Financial Services Group, are bidding for the troubled institution in an auction led by the Federal Deposit Insurance Corp (FDIC). The deal, expected to be announced on Sunday, marks the third major US bank failure in just two months – talk about a trend!

First Republic's downfall follows the failures of Silicon Valley Bank and Signature Bank, which triggered deposit flights from US lenders and forced the Federal Reserve to take emergency measures. This latest bank collapse could further fuel the growth and popularity of cryptocurrencies as alternative financial solutions – perhaps it's time for traditional banks to consider a crypto makeover? 🏦🔥

Cryptocurrency exchange Binance has reportedly lifted restrictions on Russian users that were imposed over a year ago due to EU sanctions in response to Russia's attack on Ukraine.

Previously, the exchange did not support deposits from Visa and Mastercard cards issued in Russia or any Visa and Mastercard deposits made from the country, but now users can deposit Russian rubles, euros, British pounds, and other currencies from Russian bank cards, as if the "friendship" has been rekindled.

Binance has also lifted limits for accounts with balances larger than €10,000 for users in Russia, giving them the green light to enjoy their crypto adventures. However, Binance still prohibits peer-to-peer trades in dollars and euros for Russian citizens and residents, showing that not all fences have been fully mended.

Mastercard is stepping into the Web3 world with its new "Mastercard Crypto Credential," aiming to make digital asset transactions more secure and put a leash on those pesky bad actors.

Users will get a unique identifier, letting others know they've got Mastercard's stamp of approval. The solution is designed to support compliance, while also reducing the chances of digital ne'er-do-wells running off with your precious crypto. Mastercard has teamed up with wallet providers like Bit2Me, Lirium, Mercado Bitcoin, and Uphold, as well as blockchains Aptos, Avalanche, Polygon, and Solana.

Oh, and they've got CipherTrace watching their backs too, for address verification and Travel Rule compliance. Looks like Mastercard is ready to bring order to the Wild West of Web3! 🤠🔒

Mt. Gox, the once unstoppable Tokyo-based Bitcoin trading platform, kicked off in July 2010 and quickly gobbled up over 70% of all global Bitcoin transactions. But in April 2014, the company hit a financial pothole and went bankrupt, leaving a bunch of bitcoins orphaned and undistributed to its clients. A Japanese court then stepped in and appointed a bankruptcy trustee to babysit the remaining Mt. Gox bitcoins.

In a recent turn of events, Bitcoin's price took a 7% tumble in just an hour, tripping below the $28,000 mark. This decline was sparked by reports from blockchain analytics firm Arkham, which initially claimed that wallet movements tied to Mt. Gox had started selling Bitcoins like hotcakes. Arkham later retracted their statement, admitting that the movements were unrelated and that their initial alert had been sent out mistakenly due to a bug. One can wonder if Arkham had short positions opened at the time 🫣

This little mix-up led to a frenzy, with the liquidation of $320 million as a result. However the market showed resilience, and Bitcoin's price dusted itself off and climbed back to $29,500 as more information surfaced to bring clarity to the situation.

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