Breaking: USDC slowly repegs on unconfirmed reports of SVB resolution
According to insiders, 50% of uninsured deposits will be paid out by next week. Go to Source Powered by WPeMatico
Cryptocurrencies
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Failed tech bank SVB held over $5B for prominent crypto VCs: Report
It is unclear how much assets custodied on behalf of crypto VCs are stuck in Silicon Valley Bank. Go to Source Powered by WPeMatico
Crypto whales suffer huge losses due to USDC depeg, SVB collapse
The depegging of the USDC stablecoin has affected other stablecoins, which in turn wreaked havoc on crypto projects and stakeholders in a massive chain reaction. Go to Source Powered by WPeMatico
Aavegotchi bonding curve closes on exact day of DAI depeg
The price of GHST was supported by that of DAI stablecoin for over two years. Go to Source Powered by WPeMatico
Maker DAO files emergency proposal addressing 3.1B USDC exposure
“Proposal(s) implementing the above changes are expected to be posted in the next ~12 hours or less,” says Maker. Go to Source Powered by WPeMatico
Kazakhstan Shuts Down Crypto Exchange That Transferred $34 Million Through Binance
Authorities in Kazakhstan have busted an illegal crypto trading platform, seizing over $350,000. The exchange allegedly processed almost $34 million in transactions through wallets on Binance, two of which have been blocked during the ongoing investigation. Digital Asset Exchange Making Millions in Turnover Closed Down in Kazakhstan A platform illegally trading cryptocurrencies in Kazakhstan, ABS … Read more
Binance Bans Russians From P2P Transactions With Dollars and Euros
Cryptocurrency exchange Binance has introduced new restrictions for Russian users, in accordance with the latest European sanctions. The platform is restricting access to peer-to-peer (P2P) transactions in U.S. dollars and euros for traders based in the Russian Federation. Binance Prohibits US Dollar and Euro Transactions for Russians on Its P2P Market The world’s largest crypto … Read more
Signature Bank Considered a Buy as Last Major Bank Standing in Crypto Market Amid Silvergate and SVB Troubles
Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” according to Wells Fargo equity analyst Jared Shaw. Silvergate’s liquidation caused SBNY shares to sink on Friday, dropping more than 13% as … Read more
Crypto funding shifts from CeFi to DeFi after major collapses: Finance Redefined
The majority of the DeFi tokens in the top 100 traded in the red on the weekly charts due to a downturn in the broader financial market. Go to Source Powered by WPeMatico
US senators write to banking regulators about potential crypto discrimination
The four Republican senators sense hints of the Obama administration’s Operation Choke Point that used regulation against disfavored industries. Go to Source Powered by WPeMatico