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” but should be fired. via Cointelegraph.com News https://ift.tt/FRt7ZQ9
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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 stablecoins. via Cointelegraph.com News https://ift.tt/PDm4Uqi
Silicon Valley Bank's UK branch shut down by Bank of England
Several U.K. venture capital firms have shown support for SVB UK stating it is a “trusted” partner and plays a "pivotal" role in supporting startups. via Cointelegraph.com News https://ift.tt/UknT6Rv
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. via Cointelegraph.com News https://ift.tt/87vfqKb
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. via Cointelegraph.com News https://ift.tt/nr3Qhg9
Circle Confirms $3.3B of USDC's Cash Reserves Stuck at Failed Silicon Valley Bank
Silicon Valley Bank, one of the reserve banking partner for Circle's USDC stablecoin, was shut down by regulators on Friday. via CoinDesk: Bitcoin, Ethereum, Crypto News and Price Data https://ift.tt/6zFtCT7
Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF
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. via Cointelegraph.com News https://ift.tt/WD4NSi7