Blame traditional finance for the collapse of Silicon Valley Bank

Silicon Valley Bank’s downfall was a product of traditional finance — critics shouldn’t conflate the issue with cryptocurrency.

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Ex-Ripple Advisor Appointed by Fed to Watch Over Failed Silicon Valley Bank (SVB)

Michael Barr will lead supervision of collapsed Silicon Valley Bank (SVB) on Fed's side

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Ripple Had ‘Some Exposure’ to Silicon Valley Bank, Says CEO

Ripple, best known for its connection to XRP, kept some capital at the failed Silicon Valley Bank.

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Джастин Сан на фоне краха Silicon Valley Bank предложил создать банк для нужд криптоиндустрии

Основатель Tron в воскресенье, 12 марта, выступил в социальных сетях с предложением о решении проблем, которые ждут финансовую систему в связи с банкротством Silicon Valley Bank.

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XRP Community Awaiting Ripple’s Answers on Failed Silicon Valley Bank Exposure

Ripple's potential exposure to the failed Silicon Valley Bank (SVB) has left the XRP community divided and anxious for a statement from the San Francisco-based company

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Silicon Valley Bank failure could trigger run on US regional banks

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

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Will The United States Federal Reserve Bail Out Silicon Valley Bank?

The collapse of Silicon Valley Bank has sent shockwaves through the financial world, with many wondering whether the United States Federal Reserve will step in and bail out the startups and venture capital lender.

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Circle will cover funds shortfall caused by Silicon Valley Bank collapse

Circle stated that it initiated to transfer of $3.3 billion funds remaining in SVB However, the transfer was not processed as of Friday and the could be processed on Monday The stablecoin isThe post Circle will cover funds shortfall caused by Silicon Valley Bank collapse appeared first on AMBCrypto.

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Binance And Coinbase Temporarily Suspend USDC Conversion After Silicon Valley Bank Collapse

The two biggest cryptocurrency exchanges, Binance and Coinbase, have revealed that they would temporarily suspend USDC conversions on their platforms. This comes in the aftermath of the collapse of US lender Silicon Valley Bank and concerns about its effect on USDC.

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Long Queues Seen At Silicon Valley Bank-Owned Boston Private – A Bank Run?

Long queues have been observed at Boston Private, a banking service provider, that was recently acquired by Silicon Valley Bank (SVB).   Bank Run At Boston Private Bank? According to Lawrence Lepard, an investment manager, Boston Private might be currently experiencing a bank run.

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USDC depeg – Everything we know so far as contagion spreads from TradFi banking

What we know so far about the SVB collapse and USDC/DAI depeg (updated): Crypto firm Circle reveals $3.3 billion stuck in SVB DAI/USDC depeg as stablecoin pressure continues after Silicon Valley bank collapse Binance suspended USDC conversions due to volatile market conditions Coinbase suspended USDC conversions “over the weekend while banks are closed” SVB contagion: […] The post USDC depeg – Everything we know so far as contagion spreads from TradFi banking appeared first on CryptoSlate.

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BlockFi warned over $227m stuck in Silicon Valley Bank

BlockFi has been warned by the bankruptcy trustee that the $227m the company has in Silicon Valley Bank (SVB) may go against bankruptcy laws

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Cardano Founder Says Algorithmic Stablecoins Are Essential for Bitcoin (BTC) to Achieve Its Vision

This comes in wake of embattled Silvergate and Silicon Valley Bank (SVB) buzz

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USDC Stablecoin Loses Dollar Peg Following Collapse of Major Banking Partner

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Binance CEO: Exchange Has ‘No Exposure to Silicon Valley Bank’

Binance CEO Changpeng 'CZ' Zhao said on March 10 that the exchange has no exposure to the embattled U.S. bank Silicon Valley Bank (SVB). The post Binance CEO: Exchange Has ‘No Exposure to Silicon Valley Bank’ appeared first on BeInCrypto.

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Bitcoin: Fall of Silicon Valley Bank might be a silver lining for BTC, here's why

USDC has seen increased swaps as more Bitcoin leaves exchanges. BTC volume reaches almost a three-month high as transactions go up. Fear, uncertainty, and doubt (FUD) about Bitcoin stemming The post Bitcoin: Fall of Silicon Valley Bank might be a silver lining for BTC, here's why appeared first on AMBCrypto.

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Global AUM of crypto ETPs rose to $28 billion in February: Fineqia

The cryptocurrency market is seeing yet another rough patch as prices fall amid negative sentiment around collapsed crypto-friendly banks Silvergate Bank and Silicon Valley Bank. But the declines being witnessed in March come after a slightly positive February where the total cryptocurrency market cap held above $1 trillion.

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USDC Issuer Circle Reveals It Couldn’t Withdraw $3.3 Billion From Silicon Valley Bank

Stablecoin issuer Circle disclosed late Friday that around $3. 3 billion of its $40 billion USDC reserves remained at Silicon Valley Bank. This comes after the high-tech lender’s share price dropped precipitously in response to a run on deposits by nervous consumers.

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SVB closure spurs a crypto crisis: Coinbase and Binance suspend USDC conversions

Just a day after covering Silicon Valley Bank’s (NASDAQ: SIVB) stock price dip following reports it was raising funds through selling assets and stock, the SVB has finally closed sending shockwaves through the crypto market.

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USDC Market Cap Sheds $6B as Circle Reveals $3.3B Exposure to Silicon Valley Bank

The USDC stablecoin lost its $1 peg after its issuer Circle said it has $3.3 billion stuck in the embattled Silicon Valley Bank. The post USDC Market Cap Sheds $6B as Circle Reveals $3.3B Exposure to Silicon Valley Bank appeared first on BeInCrypto.

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Circle stablecoin USDC depegs to under $0.90

USD Coin (USDC/USD) has fallen below $0. 90, sharply depegging after Circle confirmed exposure to Silicon Valley Bank.   The cryptocurrency news this Saturday also sees major cryptocurrencies, including Bitcoin and Ethereum struggle with selloff pressure near $20,000 and $1,400 respectively.

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Bankrupt crypto lender BlockFi reveals $227M exposure to Silicon Valley Bank

Bankrupt crypto lender BlockFi has revealed a $227 million exposure to Silicon Valley Bank. BlockFi's deposits are not insured by the FDIC since they were invested in a money mutual market fundThe post Bankrupt crypto lender BlockFi reveals $227M exposure to Silicon Valley Bank appeared first on AMBCrypto.

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Илон Маск проявил интерес к покупке проблемного банка Silicon Valley Bank

Генеральный директор Twitter Илон Маск заявил о возможности приобретения проблемного банка Silicon Valley Bank. Это может помочь превратить Twitter в финансовый центр и цифровой банк.

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Рынок криптовалют оценивает риск «зависания» большого объёма USDC в Silicon Valley Bank

Цена биткоина отреагировала на ситуацию в банковском секторе США снижением до минимума с января. Финансовые затруднения калифорнийского банка Silicon Valley Bank (SVB) оказались в фокусе внимания участников криптовалютной индустрии, учитывая, что ещё в январе у эмитента стейблкоинов USDC, компании Circle, в этом банке было 9,88 млрд долларов наличных денег — согласно отчетности самой Circle по […]

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Silicon Valley Bank leaves USDC bleeding- Will it impact Stablecoin market?

USDC's market cap fell from $43.56 billion to $38.9 billion, a drop of over 11%. As per Nansen, Circle burned $2.34 billion worth of USDC in the last 24 hours. USD Coin [USDC], lost its dollThe post Silicon Valley Bank leaves USDC bleeding- Will it impact Stablecoin market? appeared first on AMBCrypto.

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Silicon Valley Bank Collapse Hammers Dogecoin Price Down 11% – More Pain For DOGE?

The cryptocurrency market has seen a decline in the value of Dogecoin (DOGE) as massive amounts of fear, uncertainty, and doubt swept across the market after Silicon Valley Bank collapsed on Friday morning as a result of a bank run and a capital crisis precipitated the second-largest failure of a financial institution in the history […]

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Circle says $3.3B of USDC reserves stuck at Silicon Valley Bank

Circle said it failed to remove $3. 3 billion from Silicon Valley Bank. SVB is under FDIC receivership following its collapse. USDC depegged following the news, falling 8% to hit lows of $0. 91 on Saturday morning.

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Курсы USDC и DAI отвязались от курса доллара из-за хранения резервов в проблемном банке Silicon Valley Bank

Оператор одного из крупнейших стейблкоинов Circle сообщил, что $3,3 млрд резервов USDC хранится в банке Silicon Valley. На этом фоне курсы USDC и DAI отвязались от курса доллара.

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U.S. Lawmakers Met With Fed, FDIC to Discuss Collapse of Silicon Valley Bank: Source

Rep. Maxine Waters convened meetings with federal bank regulators in the wake of the bank's collapse.

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USDC Stablecoin and Crypto Market Go Haywire After Silicon Valley Bank Collapses

USDC's normally stable price sank to $0.89 from $1 while Ethereum gas fees soared hours after the crypto-tied bank failed.

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Coinbase Pauses Conversions Between USDC and U.S. Dollars as Banking Crisis Roils Crypto

Circle's USDC stablecoin was hit by the shutdown of Silicon Valley Bank, one of its key banking partners.

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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.

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Circle’s USDC Endured $1B of Net Redemptions Since Silicon Valley Bank's Shutdown

Stablecoin issuer Circle held an undisclosed amount of USDC’s cash reserves at failed Silicon Valley Bank.

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Pro: SVB collapse may put this crypto bank in a stronger position

FDIC closed Silicon Valley Bank today and took control of its deposits. Austin Campbell says it could actually be a benefit for Signature Bank. Shares of Signature Bank ended more than 20% down on Friday.

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USDC Issuer Circle Says it 'Awaits Clarity' From FDIC on Silicon Valley Bank Collapse

In its first statement following the collapse of Silicon Valley Bank, Circle declined to state how much cash it has tied up at the bank.

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Circle, BlockFi may have exposure to Silicon Valley Bank; other firms deny exposure

California-based Silicon Valley Bank (SVB), a unit of SVB Financial Group, has been shut down, according to an announcement from financial regulators on March 10. The post Circle, BlockFi may have exposure to Silicon Valley Bank; other firms deny exposure appeared first on CryptoSlate.

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Who Failed Silicon Valley Bank Depositors?

Should we point fingers at Silicon Valley Bank, the Federal Reserve, the banking system, crypto or the depositors themselves?

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Crypto VC Firm Pantera Used Silicon Valley Bank as a Custodian

A regulatory filing shows the shuttered bank as one of three custodians for Pantera’s funds.

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DeFi Protocol Curve’s $500M Stablecoin Pool Hammered as Traders Flee USDC

Curve's 3pool is supposed to have equal parts USDC, DAI and USDT. The trio are becoming imbalanced amid fallout from Silicon Valley Bank's collapse.

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How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout

For all the angst this week about how troubles in the crypto industry are fueling a banking crisis, the reality, so far, is actually something else: Of the two banks that went under, the one squarely focused on crypto – Silvergate Capital – escaped the black mark of a federal bailout.

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Circle’s exposure to US banks could top $9B

Circle’s reserves are held in a number of banks in the United States, including Silvergate, Silicon Valley Bank and Bank of New York Mellon.

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SVB seized by FDIC, Signature bank falls in heavy trade as bitcoin breaks down | Opinion

Niche banks continue to fall apart. The Silvergate failure is being followed by Silicon Valley Bank (SVB), which collapsed on March 10.

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Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank

Circle’s USDC, the second largest stablecoin with $43 billion market capitalization, held an undisclosed part of its $9.8 billion cash reserves at failed Silicon Valley Bank.

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Banking Sector In Crisis: Silicon Valley Bank Closed By Regulator

Another bank is in crisis; Silicon Valley Bank (SVB) has followed the financial freefall amid Federal Reserve (Fed) Chairman Jerome Powell’s hawkish macroeconomic view and tightening policies to control inflation rates.

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A Tale of 2 Banks: Why Silvergate and Silicon Valley Bank Collapsed

Every U.S. bank is facing similar structural pressures to what drove crypto’s one-time favorite bank to the moon - then into the ground.

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Silicon Valley Bank Closed Down, Regional Bank Stocks Trading Halted

Silicon Valley Bank, the 18th largest bank in the U.S. by total assets, was closed down by regulators today after it suffered a bank run. Biggest Bank Failure Since the...

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Silicon Valley Bank shut down by California regulator

The FDIC stated that as the receiver, it had immediately transferred all insured deposits of Silicon Valley Bank to the newly created Deposit Insurance National Bank of Santa Clara (DINB).

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Silicon Valley Bank Shuttered by State Regulators

Silicon Valley Bank was shuttered by the California Department of Financial Protection and Innovation on Friday, marking the second bank to shut down within days. The startup-focused bank counted a number of major crypto venture capital firms as clients.

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Banks halted on exchanges, Silicon Valley Bank now closed by California regulators

Quick Take Signature bank halted after dropping a record 22%, while 30% down in the past five days. The post Banks halted on exchanges, Silicon Valley Bank now closed by California regulators appeared first on CryptoSlate.

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