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 are small...
Day: March 11, 2023
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 “trusted” partner and plays 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.
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 hit $34 million in January.
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 has closed the company’s U.K.-based...
‘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 U.S. Federal Deposit Insurance Corporation...
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 USDC depegging incident that saw...
South Korea Doubles Down on Metaverse, Announces $51 Million Investment in Related Projects
The Ministry of Science and ICT of South Korea has approved investments of $51 million in various metaverse projects, doubling...
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 morning in the United States,"...
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 scenarios for the USD Coin...
USDC slowly repegs on unconfirmed reports of SVB resolution
According to insiders, 50% of uninsured deposits will be paid out by next week. According to a post on Mar....
Curve Finance trading volume reaches $7B historic high after USDC depeg
The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for...
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 taking advantage of a misconfigured...
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 “virtuous real yield cycle.”
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.
