Hodler’s Digest, Mar. 12-18 via Cointelegraph

SBF Fiat Fee, BTC Market Cap Volatility, Meta and USDC Volatility to $1: Hodler’s Digest, March 12-18

Sam Bankman-Fried petitions the court to prioritize payment of his legal fees

Sam Bankman-Fried (SBF) seeks to use FTX’s insurance policies to cover his legal expenses, according to a March 15 court filing. Depending on the deposit, the policies give priority payment to insured individuals such as Bankman-Fried. The move will put the former CEO at the top of FTX’s revenue list. Another address that shows the inner circle of Bankman Fried Received $3.2 billion in payments and loans of FTX related entities. The amounts do not include more than $240 million used to purchase luxury real estate in the Bahamas, political and charitable donations, as well as large transfers to non-FTX affiliates. At another address, debtors FTX It reported $11.6 billion in claims and $4.8 billion in assetswhich means a gap of $6.8 billion in the exchange’s balance sheet.

signature bank (NASDAQ:) closed by New York regulators for failure to provide data

The crypto-friendly signature bank is officially created It was shut down and dismissed by the New York Department of Financial Services on March 12 for failing to provide consistent and reliable data. was the bank Investigation by two governments of the United States The bodies about whether they have taken adequate measures to monitor and detect potential money laundering operations by their clients. Former Member of the United States House of Representatives Barney Frank Suggested that the regulators in New York closed The signing is part of an apparent show of force against the cryptocurrency market.

USDC bounced back towards $1 after Fed’s announcement

The US Federal Reserve announced funding of $25 billion to support banks

Tech giant’s market cap flips Meta, widens gap on Visa (NYSE:)