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” Curve Finance trading volume reaches $7B historic high after USDC depeg “ Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin…
” Banks down? That is why Bitcoin was created, crypto community says “ Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community, leading many to come back to crypto roots, reviving the Bitcoin white paper published just weeks after the Lehman Brothers meltdown in 2008. …
” USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank “ Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 mark. On…
” Circle discloses $3.3B tied up at Silicon Valley Bank “ On March 10, Blockchain payment technology company Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB). “Following the confirmation at the end of today…
” Regulation and risk: Factors driving demand for a euro-backed stablecoin “ Stablecoins are a type of cryptocurrency offering investors price stability. The most popular stablecoins are those backed by the United States dollar — the world’s leading reserve currency. Others are less popular and not widely used, so many may not have heard of…
” Coinbase cutting ties with Silvergate forces crypto hedge fund to find a new bank “ The popular fintech bank Silvergate Bank lost five crypto partners on March 2, owing to a slew of investigations and lawsuits against it. Coinbase, Paxos, Gemini, BitStamp and Galaxy Digital were some of the most notable crypto firms that…
” MicroStrategy, Tether adds to firms distancing from Silvergate as stock dives 57% “ Business intelligence firm MicroStrategy and stablecoin issuer Tether have become the latest two firms to publicly deny any meaningful exposure to Silvergate Bank. The news comes after Silvergate announced on March 1 that it would postpone the filing of its annual…
” Binance ‘not planning any layoffs,’ 500 roles to be filled in H1 “ Cryptocurrency exchange Binance is “not planning any layoffs” and is instead trying to fill another 500 roles by the end of June, according to a Binance spokesperson. The comments came despite a huge spike in crypto layoffs in January — the…
” Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank “ Several crypto firms have announced they will scale back or outright terminate their relationship with Silvergate Bank following an announced investigation into its alleged involvement in the FTX collapse. Amid news that crypto exchange Coinbase would no longer accept…
” FDIC-insured Citizens Trust Bank to hold $65M in USDC reserves “ Citizens Trust Bank, a financial institution regulated by the Federal Deposit Insurance Corporation (FDIC), has partnered with Circle Internet Financial to hold some of its reserves in USD Coin (USDC) — a move the companies said would promote financial inclusion and digital literacy…