Cryptocurrency
How and why do stablecoins depeg?
Discover the causes and mechanisms behind stablecoin depegs.
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South Korea launches ‘Metaverse Fund’ to expedite domestic initiatives
With the help of the Metaverse Fund, South Korea will support the mergers and acquisitions of various firms from the metaverse eco...
Cointelegraph
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South African Rand Plunges to New 2023 Low Versus the US Dollar
Just a few weeks after tapping its best exchange rate versus the greenback in 2023, the South African rand fell to a new 2023 low...
Bitcoin News
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Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD
USDC issuer Circle has pledged to cover any shortfall in the stablecoin's reserves if it does not receive the entirety of the $3.3...
Cryptonews
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Over 100 VCs, investors voice solidarity with Silicon Valley Bank
Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank to limit the fallout of the bank’s collapse...
Cointelegraph
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Nigerian Central Bank Unveils Open Banking Guidelines
The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enh...
Bitcoin News
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Bill Ackman warns US gov’t: Fix mistake in ‘48 hours’ or face ‘destruction’
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” and should be fired.
Cointelegraph
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Cryptocurrency Turnover Growing in Russia, Watchdog Reports to Putin
Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has informed President Putin. The ag...
Bitcoin News
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Do Kwon had the right idea, banks are risk to fiat-backed stablecoins — CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoi...
Cointelegraph
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Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits
Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fa...
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Silicon Valley Bank failure could trigger run on US regional banks
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses.
Cointelegraph
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Silicon Valley Bank’s UK branch shut down by Bank of England
Several U.K. venture capital firms have supported SVB UK, stating it is a “trusted” partner and plays a “pivotal” role in supporti...
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Rich Dad Poor Dad Author Robert Kiyosaki Warns Another Bank Is Set to Crash
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that another bank is set to crash following th...
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Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USDC holders have fled to other stablecoins amid fears surrounding its solvency.
Cointelegraph
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Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liqui...
Bitcoin News
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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.
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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 arm....
Bitcoin News
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Circle To ‘Stand Behind’ USDC, Cover $3.3 Billion Shortfall Held in Silicon Valley Bank
Circle stated it would use corporate resources and "external capital if necessary" to ensure that USDC is redeemable for the US Do...
Decrypt
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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,“ ena...
Cointelegraph
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