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Cryptocurrency Turnover Growing in Russia, Watchdog Reports to Putin

12.3.2023
Use of cryptocurrencies is increasing in Russia, the head of the country’s financial watchdog has informed President Putin. The agency, Rosfinmonitoring, is following thousands of participants in digital asset transactions with a new blockchain analytics system, the official revealed. Volume...

Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ

12.3.2023
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins

Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits

12.3.2023
Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fail without protecting all depositors. “No company will take even a tiny chance of losing a dollar of deposits as there is no reward for this risk....

Silicon Valley Bank failure could trigger run on U.S. regional banks

12.3.2023
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses

Silicon Valley Bank's UK branch shut down by Bank of England

12.3.2023
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

Rich Dad Poor Dad Author Robert Kiyosaki Warns Another Bank Is Set to Crash

12.3.2023
The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, says that another bank is set to crash following the collapse of Silicon Valley Bank and the voluntary liquidation of Silvergate Bank. Kiyosaki also recently said the world economy is on the verge of collapse, warning...

Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount

12.3.2023
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency

Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’

12.3.2023
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle...

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

11.3.2023
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. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch...

Circle to ‘Cover Any Shortfall’ in USDC Reserves, Sparking Stablecoin Rally

11.3.2023
The company plans to use corporate resources to fill the gap, including external capital

Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds

11.3.2023
According to Circle, USDC liquidity operations will "resume as normal when banks open on Monday morning in the United States," enabling USDC redemption at 1:1 with the U.S. dollar

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

11.3.2023
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture...

Aave freezes stablecoin trading on Avalanche V3 as activity surges on CEXs

11.3.2023
The trading freeze follows an analysis from DeFi's risk manager firm Gauntlet Network considering different scenarios for the USD Coin price

Breaking: USDC slowly repegs on unconfirmed reports of SVB resolution

11.3.2023
According to insiders, 50% of uninsured deposits will be paid out by next week

ATOM bulls watch closely as Cosmos interchain security prepares for March 15 launch

11.3.2023
Cosmos governance has approved the v9-Lambda upgrade, including interchain security and possibly kicking off a “virtuous real yield cycle.”

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

11.3.2023
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of...