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Circle CEO 'able to access' $3.3B of USDC's reserves at Silicon Valley Bank
15.3.2023
Circle’s earlier disclosure that $3.3 billion worth of USDC reserves were held with Silicon Valley Bank resulted in it losing market share to its competitor USDT
Billionaire ‘Bond King’ Jeffrey Gundlach Expects Fed to Raise Rates Next Week — ‘That Would Be the Last Increase’
15.3.2023
Billionaire Jeffrey Gundlach, aka the “Bond King,” expects the Federal Reserve to raise interest rates at its March meeting next week, which “would be the last increase,” he said. In addition, Gundlach cautioned: “The inflationary policy is back in play with...
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
14.3.2023
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally...
US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision
14.3.2023
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion...
Finance Firm Nomura Predicts Fed Rate Cut and End of Tapering This Month – What Would This Mean for Crypto?
14.3.2023
Financial services giant Nomura now believes the Federal Reserve is done with interest rate hikes and that it could even cut rates at its meeting next week.
“In reaction to looming financial stability risks, we now expect the Fed to cut rates,” Nomura economists Aichi Amemiya and Jacob Meyer were...
Tassat blockchain to join FedNow service with B2B onramp as pilot prepares for launch
14.3.2023
The New York-based fintech said it will provide an API to allow clients to access the new Federal Reserve real-time payment service when it premiers
U.S. Inflation Slowed to 6% in February; Bitcoin Breaks $26K
14.3.2023
The bitcoin price (BTC) rose to a nine-month high of $25,484 in the minutes following the report and then extended those gains
Bitcoin Nears $25K as Interbank Funding Stress Indicator Surges to Highest Level Since COVID Crash
14.3.2023
Banking sector stress strengthens the case for Fed pause next week. Likely beneficiaries from the financial stress are gold and bitcoin, one observer said
Biden pledges 'no cost to the taxpayer' to shield SVB, Signature depositors
14.3.2023
While the federal government’s proactive approach to minimizing damage was appreciated, many pointed out that it’s the taxpayers that would ultimately suffer the depositors’ bailout
Bitcoin price nears $25K as analysts place bets on CPI impact
14.3.2023
Bitcoin lines up a fresh charge at multi-month resistance, but BTC price action is already facing calls for a comedown triggered by CPI
US Fed faces internal probe over Silicon Valley Bank failure
14.3.2023
Federal Reserve chair Jerome Powell said a "careful and thoughtful" review is needed to understand how the bank collapsed under its watch
Goldman Sachs Now Expects No Rate Hike in March Due to Stress in US Banking System
14.3.2023
Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after the central bank announced...
USDC's 'Black Swan' Depegging Could Have Been Avoided With Proper Regulatory Framework
13.3.2023
Fissures among the progressive left are primarily responsible for the lack of U.S. regulatory progress around stablecoins, says John Rizzo, senior vice president for public affairs at Clyde Group
U.S. Fed’s Supervision Chief Investigating What Happened With Silicon Valley Bank
13.3.2023
Michael Barr, the vice chairman responsible for bank supervision and regulation at the U.S. Federal Reserve, is examining how the regulated Silicon Valley Bank met with its rapid collapse last week
Is This a Crypto Banking Bailout?
13.3.2023
As the wreckage that started inside crypto banking threatens financial institutions beyond the sector’s border, the federal government is eager to make it clear that it’s not going to let it get out of hand. But is it a bailout?
US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst call SVB dip 'bear trap'
13.3.2023
Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted over extreme losses
FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds
13.3.2023
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under...
Coinbase Confirms $240 Million Corporate Cash Balance with Signature Bank Amid Lender Closure
13.3.2023
Major crypto exchange Coinbase stated that it has millions in corporate cash balance with the shuttered Signature Bank.
According to a March 13 Twitter thread, as of the close of business on Friday, March 10, Coinbase had "an approximately $240m balance in corporate cash" at Signature.
The...
Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week
13.3.2023
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed
Euler Finance hacked for over $195M in a flash loan attack
13.3.2023
Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens