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Today in Crypto: Cryptocurrency is 'Inevitable', Two Hacks, OKCoin Pauses USD Deposits, Beatport & Polkadot's Music Platform, Alchemy Notify's Custom Webhooks

13.3.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________... Read More: Today in Crypto: Cryptocurrency is 'Inevitable', Two Hacks, OKCoin Pauses USD Deposits, Beatport & Polkadot's Music...

Okcoin suspends USD deposits in wake of Signature Bank closure

13.3.2023
U.S. dollar withdrawals on Okcoin are not affected by the suspension

Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps

13.3.2023
The market frenzy that started with the Silicon Valley Bank collapse is pushing BTC price higher but with some casualties left behind

Circle taps Cross River as banking partner, expands ties with BNY

13.3.2023
Circle announced a new banking partner after Silicon Valley Bank’s failure and is expanding ties with BNY Mellon

OKX-Affiliated OKCoin Pauses USD On-Ramp Due to Signature Bank’s Collapse

13.3.2023
OkCoin CEO Hong Fang tweeted that customer deposits are safe and USD withdrawals are not affected

USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

13.3.2023
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...

USDC bounces back toward $1 peg after Fed announcement

13.3.2023
Positive developments concerning Circle's $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg

Extreme Market Turbulence: Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik’s Token Sell-Off Moves Markets, and More — Week in Review

12.3.2023
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.”...

Circle Commits to Covering USDC Shortfalls – Ensures Redemption at 1:1 with USD

12.3.2023
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 billion held at now-collapsed Silicon Valley Bank. In a Saturday blog post, Circle said that the company is prepared to cover any shortfall in the USDC reserves that...

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 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

Curve Finance trading volume reaches $7B historic high after USDC depeg

11.3.2023
The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for assets

USDC Depeg: Circle's $43 Billion Stablecoin in the Spotlight as Silicon Valley Bank Exposure is Revealed – Here's the Latest

11.3.2023
The USD Coin (USDC) stablecoin has distanced away from its intended $1 peg following the revelation that Circle has exposure to the now-collapsed Silicon Valley Bank. Circle, the issuer of the world’s second-largest stablecoin USDC, said in a Friday tweet that it has $3.3 billion of its...

XRP Price Prediction as $1.5 Billion Trading Volume Comes In – Are Whales Buying?

11.3.2023
The sixth-largest crypto is hanging at the very edge of a cliff as uncertainties in the market mount, especially from the United States. Despite the total market cap sliding below the $1 trillion mark to stand at $963 billion on Saturday, XRP price is relatively unchanged in 24 hours but trading...