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Coinbase disables trading for BUSD
13.3.2023
Coinbase assured users that their BUSD funds will remain accessible and that they will still be able to withdraw funds at any time
Gemini says no funds at Signature Bank backing GUSD
13.3.2023
The company stated that it previously had a relationship with Signature but said it no longer has funds there
MakerDAO Weighs Using Emergency Switch to Prevent Future DAI Depegging
13.3.2023
The community proposal comes just days after DAI followed its fellow stablecoin USDC in slipping beneath the one-dollar mark
Coinbase Officially Suspends Binance USD Stablecoin Trading
13.3.2023
Cryptocurrency exchange Coinbase (COIN) has delisted the Binance USD (BUSD) stablecoin, according to a tweet on Monday
$70M in Fresh On-Chain USDC Positions at Risk of Liquidation if Stablecoin Depegs by 10%
13.3.2023
Traders using decentralized finance (DeFi) protocols to bet on a USDC revival over the weekend are at risk of eight-figure liquidations if the stablecoin loses its $1 peg again this week
USDC Stablecoin Regains Dollar Peg After Silicon Valley Bank-Induced Chaos
13.3.2023
The Circle-issued USDC stablecoin regained its peg to the U.S. dollar after falling below the $1 value it was supposed to hold late Friday hours after Silicon Valley Bank was shuttered by state and federal regulators
Crypto industry may escape lasting damage from Silvergate liquidation
13.3.2023
Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.”
Crypto’s Latest Stablecoin is Called HOPE, Started by Ex-Babel Finance CEO Flex Yang
13.3.2023
HOPE will serve as the native stablecoin for the new Hope ecosystem, which is focused on bringing traditional finance users to the crypto market
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
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
Binance CEO announces recovery funds conversion from BUSD to 'native crypto'
13.3.2023
Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC
Binance Will Convert $1B Worth of BUSD Stablecoin to Bitcoin, Ether, BNB, and Other Tokens
13.3.2023
Binance tapped into its Industry Recovery Initiative funds to cover the move
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 Dominated Trading Volume on Decentralized Exchanges Amidst Depegging Incident
12.3.2023
On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.13 billion in trades...
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...
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
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...