While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tětek said they are “definitely good” for Bitcoin. The ongoing crisis of banks in the United States has many positive implications for Bitcoin (BTC), according to an executive at the hardware wallet firm Trezor. On March 14, Bitcoin…
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Some of the biggest firms in crypto have denied exposure to any of the failed banks in the United States. Amid the ongoing United States banking crisis, a wide number of major cryptocurrency firms have denied exposure to dissolved U.S. banks like Silicon Valley Bank (SVB). As potential implications of the SVB crisis for the…
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Digital asset investment products saw their highest-ever weekly outflow last week, according to the latest Digital Asset Fund Flows Weekly Report released by CoinShares. The $255 million in net outflows amounted to 1.0% of total assets under management (AuM) fleeing from the space…. Read More: Investors Dumped a Record Amount of Bitcoin Last Week, Only…
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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
Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted due to extreme losses. Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView BTC price…
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Fear and trepidation spread across the crypto market last week following the high-profile collapses of Silvergate Bank and Silicon Valley Bank. Cryptocurrency investment products lost 10% of assets under management last week as institutional investors rushed for the exit during the latest episode of market volatility prompted by the Silvergate and Silicon Valley Bank collapses.…
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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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Circle joined other customers and depositors in calling for the continuity of SVB in the US economy. On March 10, Blockchain payment tech company and USD Coin (USDC) issuers Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon…
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BlockFi’s capital allocated to the money market mutual fund is not FDIC insured, however the fund doesn’t appear to be managed by Silicon Valley Bank. According to a new bankruptcy filing, defunct crypto lender BlockFi has $227 million worth of uninsured funds allocated to a money market mutual fund (MMMF) offered by troubled Silicon Valley…
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After falling another 1% on Friday to take its week-to-date losses above 10%, Bitcoin (BTC) is now oversold, according to the widely followed 14-Day Relative Strength Index (RSI) indicator. BTC/USD was last changing hands in the $20,100s, having dipped as low as the $19,500s earlier in the session, with its RSI last just above 28….…
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