Other cryptocurrencies did not post similar gains, however, suggesting traders were not taking risks on lesser-known tokens yet. Polygon’s matic (MATIC) was up 1.6% while BNB Coin (BNB) and XRP were up a nominal 2% […]
Some $4 million in USDC futures were liquidated in the past 24 hours, Coinglass data shows. Source link
“I am alarmed by the failure of Silicon Valley Bank, which marks the second largest bank failure in U.S. history,” she said in a statement. “I am closely monitoring and convening Committee members with regulators […]
While temporary, the pause speaks to the chaos that’s roiled the crypto industry’s second-largest stablecoin in the wake of Silicon Valley Bank’s demise. All day Friday crypto traders speculated on the stability of USDC and […]
USDC is the second-largest stablecoin, trailing only Tether’s USDT, and a backbone of the crypto ecosystem. The token’s value is backed by U.S. government bonds and cash-like assets, including a total $11.1 billion of cash […]
USDC issuer Circle Internet Financial said late Friday it “awaits clarity” from federal banking regulators on the status of its deposits at Silicon Valley Bank, one of the six financial institutions it said are responsible […]
Yes, SVB was tech-forward and, while not necessarily “crypto-friendly,” it did bank crypto hedge funds and VCs like Blockchain Capital, Castle Island Ventures, Dragonfly and Pantera (oh, and even CoinDesk). SVB didn’t fail because of […]
$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System. Source link
Every U.S. bank is facing similar structural pressures to what drove crypto’s one-time favorite bank to the moon – then into the ground. Source link
Crypto is, and will for some time, be a quintessential case of unfinished business. Protocols that are sufficiently decentralized won’t be shut down because they literally cannot be. So, in one shape or another, the […]
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