A built-in cryptocurrency wallet is the latest finance-related feature to pop up in Microsoft’s Edge browser.

Cryptocurrencies Resurge as U.S. Backing of Failed Banks Encourages Investors

How is your cryptocurrency portfolio lately? With the significant upsets in crypto and bank failures making the news, it might be a good time to look. Especially if you were a Signature Bank customer.

However, according to cnbc.com crypto is making a comeback in 2023.

Cryptocurrencies surged on Monday, even after regulators Sunday announced the closure of Signature Bank, the last central crypto bank in the U.S.

Bitcoin rose more than 15% to $24,382.98, according to Coin Metrics, and is now about 19% above its Friday levels. Since the January rally in risk assets began to fizzle out, chart analysts have been looking for a meaningful break above $25,000.

Ether rose 9% to $1,683.20.

The jump in risk assets came after U.S. regulators announced plans Sunday night to backstop all the depositors in failed Silicon Valley Bank and make additional funding available for other banks. And this unsettled banking phase seems to be driving the new interest in cryptocurrencies.

The Fed raised interest rates on Wednesday, but only by a quarter of a percent.

“A slower hiking pace and a lower terminal rate, plus the likely injection of liquidity to prop up banks struggling to meet withdrawals (through the Bank Term Funding Program) imply greater market liquidity, even if this could be partially offset by higher volatility,” said Noelle Acheson, economist and writer of the “Crypto is Macro Now” newsletter.

Crypto Wallet From Microsoft

Microsoft has developed a new way to keep track of your cryptocurrency. The site arstechnica.com has broken down the new crypto wallet features and the reasons they have been added. Whether you need them or not.

Microsoft is testing a built-in cryptocurrency wallet for Edge, according to arstechnica.com writer Andrew Cunningham. Screenshots from a Beta version show they are for internal testing. According to the story:

“This is only one of many money and shopping-related features that Microsoft has bolted onto Edge since it was reborn as a Chromium-based browser a few years ago. In late 2021, the company faced backlash after adding a “buy now, pay later” short-term financing feature to Edge. And as an Edge user, the first thing I do in a new Windows install is disable the endless coupon code, price comparison, and cash-back pop-ups generated by Shopping in Microsoft Edge (many settings automatically sync between Edge browsers when you sign in with a Microsoft account; the default search engine and all of these shopping add-ons need to be changed manually every time).”

The wallet has extra features many may not want, such as third-party extensions, which could lead to scams. As with any product that has to do with your finances, caution is required.

read more at www.cnbc.com