Bitcoin News / Bitcoinist - 1 year ago
Reports have shown that BlockFi also has $227 million in the troubled Silicon Valley Bank, which wasn’t insured. Notably, SVB is not managing the fund directly.
As the saga of the Silicon Valley Bank shutdown continues, more victims are emergi...
Cryptocoins News / The Cointelegraph - 1 year ago
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses. Federal Reserve and Federal Deposit In...
Cryptocoins News / The Cointelegraph - 1 year ago
Several U.K. venture capital firms have supported SVB UK, stating it is a “trusted” partner and plays a “pivotal” role in supporting startups. The Bank of England (BoE...
Cryptocoins News / EthereumWorldNews - 1 year ago
Circle CEO Jeremy Allaire has stated that USDC will be supported through external capital if necessary.& The Circle executive revealed that the company had initiated a transaction to transfer $3.3 billion out of Silicon Valley Bank.& Allaire...
Cryptocoins News / The Cointelegraph - 1 year ago
Bank run on Silicon Valley Bank, USDC depegged from U.S. dollar and FTX’s bankruptcy expenses hit $34 million in January. Top Stories This WeekSilicon Valley Bank shut...
Bitcoin News / Bitcoin.com - 1 year ago
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures.
Fallout From S...
by COINS NEWS - 1 year ago
According to Circle, USDC liquidity operations will “resume as normal when banks open on Monday morning in the United States,“ enabling USDC redemption at 1:1 with the U.S. dollar....
Bitcoin News / Bitcoin.com - 1 year ago
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catal...
Cryptocoins News / EthereumWorldNews - 1 year ago
The collapse of Silicon Valley Bank has jolted the entire crypto industry.& USD Coin issuer Circle’s $3.3 billion exposure to the bank has caused the stablecoin to lose its peg.& USDC fell as low as $0.87 earlier today as holders rushed to r...
Bitcoin News / Google News Bitcoin - 1 year ago
This Week in Coins: After Silvergate and Silicon Valley Bank Collapse, Bitcoin and Ethereum Crash& & DecryptBitcoin tanks as Silicon Valley Bank's collapse stirs up contagion fear& & MarketWatchBanks down? That is why Bitcoin was created, crypto comm...
Bitcoin News / Bitcoinist - 1 year ago
Stablecoin issuer Circle disclosed late Friday that around $3.3 billion of its $40 billion USDC reserves remained at Silicon Valley Bank. This comes after the high-tech lender’s share price dropped precipitously in response to a run on deposits...
Bitcoin News / Bitcoinist - 1 year ago
The cryptocurrency market has seen a decline in the value of Dogecoin (DOGE) as massive amounts of fear, uncertainty, and doubt swept across the market after Silicon Valley Bank collapsed on Friday morning as a result of a bank run and a capital cris...
Cryptocoins News / CoinJournal - 1 year ago
Circle said it failed to remove $3.3 billion from Silicon Valley Bank.
SVB is under FDIC receivership following its collapse.
USDC depegged following the news, falling 8% to hit lows of $0.91 on Saturday morning.
Circle, the blockchain payments com...
Cryptocoins News / The Cointelegraph - 1 year ago
At the time of writing, USDC had lost over 10% of its value as it traded at $0.8774, and a Circle executive envisions broader implications for business, banking and entrepreneurs without...