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Silicon Valley Bank
Burning USDC and Minting DAI Prove to Be Popular On-Chain Activities Amid SVB Collapse
Circle’s USDC stablecoin had nearly $3 billion in net redemptions since Friday, while the total supply of DAI increased by 1.2 billion tokens over the same time period.
IMF Had Warned G-20 That Widespread Crypto Use Could Impact Banking Sector
The International Monetary Fund's report on "Macrofinancial Implications of Crypto Assets," given to the G-20 in February during a meeting in India, was made public on Monday, days after the collapse of crypto-friendly banks Signature Bank, Silicon Valley Bank, and Silvergate Bank. "The Hash" panel discusses the significance of the report, as the IMF had warned the Group of 20 (G-20) nations that the widespread proliferation of crypto assets could lead to banks losing deposits and curtailing lending.
Silicon Valley Bank's Parent Looking at Strategic Alternatives
SVB Financial Group appointed a restructuring committee for its venture capital and investment banking arm.
USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank Collapse
The USDC stablecoin regained its peg to the U.S. dollar, according to CoinGecko, after falling below the $1 value it was supposed to hold as the federal banking and finance regulators said on Sunday that all Silicon Valley Bank depositors would have access to their funds beginning Monday. "The Hash" panel discusses the implications for stablecoins and the wider crypto market.
Bitcoin Climbs Above $24K as Silicon Valley Bank Customers Can Fully Access Funds
Depositors of Silicon Valley Bank will have full access to their money beginning Monday morning, the Federal Deposit Insurance Corp. said, after confirming a successful transfer of deposits to a new bridge bank called Silicon Valley Bank N.A. "The Hash" panel discusses the latest developments as bitcoin (BTC) surges above $24,000.
Bitcoin Miner Stocks Surge Amid Banking Meltdown
Mining equities were up about 11% on average on Monday alongside big gains for bitcoin.
Bitcoin Surges 18% to Above $24K
Some $160 million in short positions have been liquidated on Monday.
Panic Mustn’t Be Allowed to Spread After SVB Collapse: EU Lawmaker
Germany’s Markus Ferber said there needs to be a review of interest rate and sovereign bond exposures.
President Biden Calls for Stronger Bank Regulations in Wake of SVB, Signature Bank Collapses
The government on Sunday evening stepped in to guarantee no losses will be borne by the lenders' depositors.
BlockFi Has Cash Access for Staff, Vendors Despite SVB Collapse: Attorney
The company had millions deposited with Silicon Valley Bank but regulators intervened Sunday evening to safeguard all customer monies.
