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. Following the Fed announcement, Circle…
A solo Bitcoin miner was rewarded for adding block 780,112 to Bitcoin’s blockchain, beating the odds as countless others raced toward the same goal. The miner used the Solo CK Pool mining service to establish a solo mining pool, where they produced a valid hash for the block and received a reward of 6.25 BTC and a fee reward of…
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 new banking partners lined up at “banking open tomorrow morning.” According to CoinGecko data, USDC is up 3.3% over the past 24 hours to sit at $0.99 at the time of writing. USDC…
All depositors in Silicon Valley Bank will have access to their funds starting Monday—as well as depositors of Signature Bank, which was also shut down Sunday by New York’s state chartering authority. The notice came in a joint statement delivered by U.S. Federal Reserve Chairman Jerome Powell, U.S. Treasury Secretary Janet Yellen, and Federal Deposit Insurance Corporation (FDIC) Chairman Martin…
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be made whole, similar to a…
Ripple CEO Brad Garlinghouse took to Twitter on Mar. 12 to discuss the company’s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple’s stability. Ripple had exposure to SVB, Garlinghouse said, but “we expect NO disruption to our day-to-day business, and already held a majority of our USD w/ a broader network of bank partners.” His short…
Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms. The funds would ensure that “eligible banks” would have enough liquidity to cover the needs of their customers during times of turmoil. In a Mar. 12 statement, the Federal Reserve said it…
The Board of Governors at the United States Federal Reserve has taken immediate action to close down Signature Bank. The Federal Reserve explained in a Mar. 12 press release that the decision was made in order to to protect the U.S. economy by strengthening public confidence in the banking system. “This step will ensure that the U.S. banking system continues…
Crypto exchange Binance has organized training courses for representatives of law enforcement authorities in Ukraine. The leading coin trading platform has been involved in dozens of similar initiatives over the past year, in a number of countries. Binance Provides Crypto Training to Security Officials in Ukraine The world’s largest digital asset exchange, Binance, has provided training to Ukrainian law enforcement…
Events surrounding Silicon Valley Bank are moving fast. Here is a breakdown of the major developments over the course of three days. Source: https://cointelegraph.com/news/silicon-valley-bank-collapse-everything-that-s-happened-until-now
