By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data USDC’s normally stable price sank to $0.89 from $1 while Ethereum gas fees soared hours after the crypto-tied bank failed.Publish at: March 11, 2023 at 05:51AM
USDC Stablecoin and Crypto Market Go Haywire After Silicon Valley Bank Collapses
Coinbase Pauses Conversions Between USDC and U.S. Dollars as Banking Crisis Roils Crypto
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Circle’s USDC stablecoin was hit by the shutdown of Silicon Valley Bank, one of its key banking partners.Publish at: March 11, 2023 at 04:14AM
Circle Confirms $3.3B of USDC’s Cash Reserves Stuck at Failed Silicon Valley Bank
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Silicon Valley Bank, one of the reserve banking partner for Circle’s USDC stablecoin, was shut down by regulators on Friday.Publish at: March 11, 2023 at 03:52AM
Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank’s Shutdown
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Stablecoin issuer Circle held an undisclosed amount of USDC’s cash reserves at failed Silicon Valley Bank.Publish at: March 11, 2023 at 01:01AM
USDC Issuer Circle Says it ‘Awaits Clarity’ From FDIC on Silicon Valley Bank Collapse
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data In its first statement following the collapse of Silicon Valley Bank, Circle declined to state how much cash it has tied up at the bank.Publish at: March 11, 2023 at 12:05AM
USDC Stablecoin Depegs From $1; Circle Says Operations Are Normal
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data USDC dropped to $0.973, its lowest level since the collapse of FTX.Publish at: March 11, 2023 at 12:01AM
Who Failed Silicon Valley Bank Depositors?
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Should we point fingers at Silicon Valley Bank, the Federal Reserve, the banking system, crypto or the depositors themselves?Publish at: March 10, 2023 at 11:06PM
Crypto VC Firm Pantera Used Silicon Valley Bank as a Custodian
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data A regulatory filing shows the shuttered bank as one of three custodians for Pantera’s funds.Publish at: March 10, 2023 at 10:59PM
DeFi Protocol Curve’s $500M Stablecoin Pool Hammered as Traders Flee USDC
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data Curve’s 3pool is supposed to have equal parts USDC, DAI and USDT. The trio are becoming imbalanced amid fallout from Silicon Valley Bank’s collapse.Publish at: March 10, 2023 at 10:51PM
How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout
By CD Read more: CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data For all the angst this week about how troubles in the crypto industry are fueling a banking crisis, the reality, so far, is actually something else: Of the two banks that went under, the one squarely focused on crypto – Silvergate Capital – escaped the black mark of […]