Microsoft is reportedly working on a built-in Ethereum cryptocurrency wallet for its Edge browser, which would enable its users to send and receive cryptocurrencies and non-fungible tokens (NFTs) without using additional extensions.

The Federal Deposit Insurance Corporation (FDIC) is selling Signature Bank’s deposits and loans to Flagstar Bank, a subsidiary of New York Community Bancorp. Cryptocurrency-related deposits, however, aren’t a part of the deal.

Nasdaq-listed cryptocurrency exchange Coinbase is exploring the launch of an offshore cryptocurrency exchange that would offer perpetual swaps tied to digital assets.

 Top stories in the Crypto Roundup today:

• Microsoft Tests Ethereum Wallet in Edge Browser
• FDIC Sells Non-Crypto Signature Bank Deposits
• Coinbase Explores Launching Offshore Derivatives Exchange
• Cardano’s ADA Struggles to Maintain Momentum

Microsoft Tests Ethereum Wallet in Edge Browser

Microsoft is reportedly working on a built-in Ethereum cryptocurrency wallet for its Edge browser, which would enable its users to send and receive cryptocurrencies and non-fungible tokens (NFTs) without using additional extensions.

The wallet is currently in a limited testing phase, and is a non-custodial solution that would give users complete control over their funds. It was discovered by the pseudonymous software documenter “Albacore.”

The wallet’s development is in its early stages, with access to it being limited to Microsoft Edge Dev Channel users. The tech giant highlights that it will not have access to users’ passwords or recovery keys during the onboarding process to the wallet.

Once onboarding is complete, the wallet generates an Ethereum address for receiving funds. The Edge Crypto Wallet supports multiple Ethereum accounts. Users can also connect to decentralized applications (dApps) and access a crypto news section.

Microsoft also appears to offer built-in cryptocurrency swap features between ETH, DAI, UNI, USDC, and USDT through a partnership with ConsenSys.

FDIC Sells Non-Crypto Signature Bank Deposits

The Federal Deposit Insurance Corporation (FDIC) is selling Signature Bank’s deposits and loans to Flagstar Bank, a subsidiary of New York Community Bancorp. Cryptocurrency-related deposits, however, aren’t a part of the deal.

According to an FDIC announcement, Flagstar Bank has agreed to take over $38.4 billion worth of non-cryptocurrency-related deposits and $12.9 billion in loans from Signature Bank

The "purchase and assumption agreement" means that all deposits taken over by Flagstar Bank will continue to be insured up to $250,000.

However, the agreement did not include approximately $4 billion of deposits held by Signature Bank's digital assets business, which the FDIC confirmed would be transferred directly to customers who opened a digital banking account.

Coinbase, Celsius, and Paxos are three cryptocurrency firms that have confirmed having some exposure to Signature Bank.

Coinbase Explores Launching Offshore Derivatives Exchange

Nasdaq-listed cryptocurrency exchange Coinbase is exploring the launch of an offshore cryptocurrency exchange that would offer perpetual swaps tied to digital assets.

The exchange reportedly briefed market-making and trading firms about its plan to roll out the platform in an offshore jurisdiction. Among the offerings, it will include perpetual swaps, a type of future contract with no expiry that’s popular in the space.

The move comes after Coinbase acquired FairX, a derivatives exchange regulated by the Commodity Futures Trading Commission (CFTC) last year. It also applied in 2021 for membership in the National Futures Association, a U.S. self-regulatory organization.

Cardano’s ADA Struggles to Maintain Momentum

Cardano (ADA) suffered a 9.84% loss in February, influenced by macro factors that raised volatility 12.1% for the month.

Average daily volumes also dropped significantly, by 24.2%, compared to January. The price decline also reduced Cardano's market capitalization, which fell 9.64% to $12.2 billion by the end of February.

Dive deeper into the cryptocurrency market via CryptoCompre’s latest Asset Report.

State of the Crypto by Top Tier Exchange Volume

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