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Positive developments concerning Circle’s $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg. Go to Source Powered by WPeMatico
Bitcoin recovers from the depegging of USDC, the second-largest stablecoin, from the U.S. dollar. Go to Source Powered by WPeMatico
Circle joined other customers and depositors in calling for the continuity of SVB in the US economy. Go to Source Powered by WPeMatico
BlockFi’s capital allocated to the money market mutual fund is not FDIC insured, however the fund doesn’t appear to be managed by Silicon Valley Bank. Go to Source Powered by WPeMatico
The crypto market is taking a walloping, and there are three important reasons why BTC’s $380 billion valuation is a key support for the entire market. Go to Source Powered by WPeMatico
BTC price targets extend to $18,000 with Bitcoin bulls increasingly failing to preserve $20,000 as support amid further SVB Financial fallout. Go to Source Powered by WPeMatico
Concerns have been raised around the financial health of the tech-focused bank, which services the likes of crypto-friendly VCs such as Sequoia and a16z. Go to Source Powered by WPeMatico
The company claimed that the bank’s voluntary liquidation is its best path forward due to recent industry and regulatory developments. Go to Source Powered by WPeMatico
Officials from the government agency reportedly entered Silvergate’s headquarters last week, with discussions revolving around how to salvage the crypto bank. Go to Source Powered by WPeMatico
BTC’s $1,420 decline in the span of 1-hour negatively impacted demand for stablecoins in Asia and it shifted futures traders into a more defensive attitude. Go to Source Powered by WPeMatico
