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” Coinbase, Celsius and Paxos disclose funds in Signature Bank “ Crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank. The crypto-friendly Signature Bank was shut down by New York regulators on Mar. 12 in conjunction with the United…
” ‘Nobody left to bank crypto companies’ — Crypto Twitter reacts “ Crypto companies could find it harder to access traditional banking partners with the loss of two major crypto-friendly banks in less than a week, according to some in the crypto community. On Mar. 12, the Federal Reserve announced the closure of Signature Bank…
” USDC bounces back toward $1 peg after Fed announcement “ Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.” According to CoinGecko data, USDC is up…
” Ripple CEO assures ‘strong financial position’ despite SVB collapse “ Ripple CEO Brad Garlinghouse took to Twitter on Mar. 12 to discuss the company’s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple’s stability. Ripple had exposure to SVB, Garlinghouse said, but “we expect NO disruption to our day-to-day business, and…
” US Fed announces $25B in funding to backstop banks “ Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms. The funds would ensure that “eligible banks” would have enough liquidity to cover the needs of…
” Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF “ According to a new bankruptcy filing, defunct crypto lender BlockFi has $227 million worth of uninsured funds allocated to a money market mutual fund (MMMF) offered by troubled Silicon Valley Bank (SVB). SVB — one of the U.S’s largest banks and key…
” What does the Silvergate collapse mean for crypto? “ The collapse of crypto-friendly bank Silvergate will likley have a significant impact on the crypto ecosystem and its ties with the banking sector in the U.S. Earlier this week, the parent company of Silvergate Bank announced plans to wind down operations and liquidate the bank….
” US senators write to banking regulators about potential crypto discrimination “ Four United States Republican senators lead by Bill Hagerty have written a letter to the heads of federal banking regulatory agencies questioning the ideological motivation behind recent regulatory moves in regard to cryptocurrency. They compared the regulators’ policies to the Obama administration’s Operation…
” Nigerian president-elect aims to use blockchain technology in the banking sector “ Nigerian President-elect Bola Tinubu has recently released a manifesto that, if implemented, would enable the use of blockchain technology and cryptocurrencies in the nation’s banking and finance sector. The manifesto suggests reviewing existing Nigerian Security Exchange Commission (SEC) regulations on digital assets…
” US bank woes? Silicon Valley Bank stocks plunge 1 day after Silvergate downfall “ Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional capital. However, some investors may be concerned that not…