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” Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank “ Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (SVB). Speaking with Bloomberg Markets on March…
” SVB crisis: Here are the crypto firms denying exposure to troubled US banks “ Amid the ongoing United States banking crisis, several major cryptocurrency firms have denied exposure to dissolved U.S. banks like Silicon Valley Bank (SVB). As potential implications of the SVB crisis for the crypto market continue to unfold, Cointelegraph highlighted several…
” Circle’s USDC instability causes domino effect on DAI, USDD stablecoins “ The stablecoin ecosystem felt an immediate effect as USD Coin (USDC) depegged from the US dollar due to a subsequent sell-off after Silicon Valley Bank (SVB) did not process $.3.3 billion of Circle’s $40 million transfer request. Given USDC’s collateral influence, major stablecoin…
” USDC investor shells out $2M to receive $0.05 USDT trying to evade crash “ Soon after Circle revealed that Silicon Valley Bank did not transfer $3.3 billion of its USD Coin (USDC) reserves, the market responded with a massive sell-off — depegging the stablecoin from the US dollar. However, not all investors were lucky…
” Stablecoins and Ether are ‘going to be commodities,’ reaffirms CFTC chair “ Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate hearing. At the Mar. 8 Senate Agricultural hearing, CFTC chair, Rostin Behnam,…
” Key Bitcoin price metrics point to BTC downside below $22.5K “ Bitcoin (BTC) faced a 1-hour $1,420 pullback on March 3 following Silvergate Bank’s 57.7% stock crash which was due to significant losses and “suboptimal capitalization.” The U.S. fintech-friendly bank was a key financial infrastructure provider for exchanges, institutional investors and mining companies and…
” Tether strikes at WSJ over ‘stale allegations’ of faked documents for bank accounts “ The company behind stablecoin Tether (USDT) has rebuffed a report by The Wall Street Journal (WSJ) claiming it had ties to entities that faked documents and used shell companies to maintain access to the banking system. On Mar. 3 the…
” 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…
” 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…
” Ukraine netted $70M in crypto donations since start of Russia conflict “ Ukraine has received over $70 million in the form of cryptocurrencies since the start of the Russian-Ukrainian conflict, providing the nation with military equipment and humanitarian assistance. The figures came from a Feb. 24 report by blockchain data platform Chainalysis, which found…