Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing…
Month: March 2023
Silicon Valley Bank failure could trigger run on U.S. regional banks
A petition urging regulators to step in claims that nearly 40,000 of all depositors at…
Silicon Valley Bank’s UK branch shut down by Bank of England
Several U.K. venture capital firms have shown support for SVB UK stating it is a…
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency.
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England…
‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the…
Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the…
Silicon Valley Bank down, USDC depegged, FTX billed $34M in Jan.: Hodler’s Digest, March 5-11
Bank run on Silicon Valley Bank, USDC depegged from U.S. dollar and FTX’s bankruptcy expenses…
DeFi lender Tender.fi suffers exploit, white hat hacker returns funds
DeFi lending platform Tender.fi sees $1.59 million of assets drained by a white hat hacker…
Aave freezes stablecoin trading on Avalanche V3 as activity surges on CEXs
The trading freeze follows an analysis from DeFi’s risk manager firm Gauntlet Network considering different…
USDC slowly repegs on unconfirmed reports of SVB resolution
According to insiders, 50% of uninsured deposits will be paid out by next week. According…
SEC denies VanEck spot BTC trust product, commissioners see double standard
SEC Commissioners Mark Uyeda and Hester Peirce have issued a joint statement highlighting discrepancies they…
Circle’s exposure to US banks could top $9B
Circle’s reserves are held in a number of banks in the United States, including Silvergate,…
Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds
According to Circle, USDC liquidity operations will “resume as normal when banks open on Monday…
ATOM bulls watch closely as Cosmos interchain security prepares for March 15 launch
Cosmos governance has approved the v9-Lambda upgrade, including interchain security and possibly kicking off a…