Yet another crypto-friendly bank has gone down with the collapse of New York-based Signature Bank. But according to the industry, crypto now cannot be stopped…. Read More: Another Bank Down: Crypto-Friendly Signature Bank Closed Over Systemic Risk Concerns – What Does This Mean for Crypto? Read more »Sign up for e-EUR – the progressive stablecoin
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and…
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U.S. dollar withdrawals on Okcoin are not affected by the suspension. According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that Okcoin’s U.S. dollar wire and ACH deposits have been “immediately paused”…
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Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Cryptocurrency is ‘Inevitable’, Two Hacks, OKCoin Pauses USD Deposits, Beatport & Polkadot’s Music Platform, Alchemy Notify’s Custom Webhooks Read more »Sign up for e-EUR – the progressive stablecoin
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed. Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy. In a move which can…
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Coinbase CEO Brian Armstrong says the exchange has previously considered adding features to become a neobank. The broader cryptocurrency community continues to debate the ongoing fallout following the closure of three major American banks, with calls for neobank services for the industry on the cards. Silicon Valley Bank (SVB), which has traditionally served startups across…
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The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley Bank (SVB) and New York’s Signature Bank.…
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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. Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has…
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The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm. Crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank. The crypto-friendly Signature Bank was…
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Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks. Crypto companies could find it harder to access traditional banking partners with the loss of two major crypto-friendly banks in less than a week, according to some in the crypto community. On Mar. 12, the Federal Reserve announced the…
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