27th March: Crypto & Coffee at 8 🎙️
🔥 US bank: $ 1.7 trillion Unrealized Loss. 🔴The U.S. government: 205,515 BTC 🟠 Metaverse NFT Trading 🚀 XRP 🆚 Security Exchange Commission

📊 The rapid collapse of Silicon Valley Bank, Signature Bank, Silvergate Bank, Credit Suisse maybe? has definitely shaken & questioned the “trust” in traditional finance. Interesting article here by Fortune that discusses U.S. Banks are sitting on $1.7 trillion in unrealized losses, research says. That’s not a problem until it is. https://lnkd.in/d4jCina9

❗ A new paper by researchers at New York University on March 13 found that they aren’t the only ones with these issues U.S. banks had unrealized losses of $1.7 trillion at the end of 2022. The losses were nearly equal to the banks’ total equity of $2.1 trillion.

🎙️ Check out the Blockchain DXB podcast where we explore this in detail and also discuss where Bitcoin & Cryptocurrency fit in during the banking financial crisis.

⚡ As of March 25, 2023, the U.S. government held 205,515 bitcoins worth $5.6 billion, which is approximately 1.06% of the circulating supply, according to current statistics. Bitcoin.com reported that The cache of bitcoins resulted from three forfeitures that began in 2020. Article here https://lnkd.in/dE3GbNbg The current estimate of 205,515 bitcoins (BTC) comes from Dune Analytics set of metrics created by 21Shares, an exchange-traded product provider.

🟥 Record-Breaking Performance
🚀 DappRadar published an article on the 23rd that states that Virtual Worlds Soar: Record Land Sales Generate $311M. In Q1 of 2023 surges with $502 million in investments in blockchain gaming and the metaverse. Article here https://lnkd.in/dWsjD_SH
Some of the highlights via DailyCoin are
- Metaverse NFT trading volume reached an all-time high in Q1 2023.
- Virtual land trading soared by 277% since Q4 2022.
- Digital Fashion and Web3 gaming emerged as top prospects for growth.

🔹 The article here https://lnkd.in/dc7PE_4f states Interest in Web3 gaming and the metaverse has significantly increased in recent years. In the first quarter of 2023, the sectors have shown remarkable growth, with investors and companies flocking to capitalize on the trend.

🟦 CNBC published an article last week that discussed the drama between Ripple VS SEC.
🆚 The article here https://lnkd.in/dMxN4nQQ states XRP cryptocurrency jumps as investors hope Ripple will win a legal battle with the SEC. Monica Long, president of Ripple, told CNBC Wednesday she is “very hopeful” about achieving a positive resolution to the SEC case, with an outcome expected “sometime this year.”

Check out our commentary on this in our Crypto & Coffee at 8 episodes for today on this

🚨 Two UAE News (See slides)
⚡ Dubai Police HQ NFT named Best NFT Government Project
⚡ Central Bank of The UAE launches the Central Bank Digital Currency Strategy “The Digital Dirham”

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Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 27th March 🚨 🔥 US bank: $ 1.7 trillion Unrealized Loss. 🔴The U.S. government: 205,515 BTC 🟠 Metaverse NFT Trading 🚀 XRP 🆚 Security Exchange Commission 38:27 Share

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Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 27th March 🚨 🔥 US bank: $ 1.7 trillion Unrealized Loss. 🔴The U.S. government: 205,515 BTC 🟠 Metaverse NFT Trading 🚀 XRP 🆚 Security Exchange Commission