Ad On Friday, March 10, Elon Musk expressed his openness to buying Silicon Valley Bank following its collapse. Min-Liang Tan, CEO of Razer, suggested on Twitter that Twitter should purchase SVB and transform it into a digital bank. Musk responded briefly, stating, “I’m open to the idea,” without providing additional information. I’m open to the…
Ad The following is a guest post by Anndy Lian. The crypto industry is currently experiencing anxiety due to concerns about the potential detachment of USDC, a stablecoin supported by US dollars. As an individual who closely monitors the market, I have been observing the situation and would like to share some of my personal…
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Ad According to venture capitalist and longtime crypto supporter Nic Carter, the recent crackdown on the US crypto industry can be dubbed “Operation Choke Point 2.0.” Carter argues that inter-governmental organizations are working to suffocate and destroy the crypto industry. Carter’s post, titled “Operation Choke Point 2.0 Is Underway, And Crypto Is In Its Crosshairs,”…
Ad Nine of the top 10 stablecoins by market cap are trading below their dollar peg as the market reels from the contagion sparked by the depeg of Circle’s USDC stablecoin on March 11, according to CryptoSlate data. USDC lost its peg after Circle announced that roughly $3.3 billion of its cash reserves were held…
Introduction Silvergate bank announced it would begin winding down operations and undergo voluntary liquidation. On March 8, the bank said it was exploring how it could resolve claims and ensure the continued residual value of its asset while repaying all deposits to clients. The decision was made in light of “recent industry and regulatory developments,”…
Ad Global cryptocurrency adoption remains on course to reach approximately 750 million users by the end of 2023, according to Triple-A. Per the report, the top five countries by the estimated number of holders are the U.S., India, Pakistan, Nigeria, and Vietnam at 46 million, 27 million, 26 million, 22 million, and 20 million, respectively….
Ad U.S. Senator Elizabeth Warren’s latest tweet about “sham crypto audits” and holding auditors “accountable” has caused a furor among the Twitter crypto community. The community said the tweet was Warren’s latest attempt to demonize the crypto industry and called it “tone deaf” amid the banking crisis involving Silicon Valley Bank (SVB) ‘Sham audits’ Warren…
Ad TLDR At the upcoming Federal Open Market Committee (FOMC) meeting on March 22, a 25 basis point rate hike is the favored probability. A terminal fed funds rate of 5.50% with a 25bps cut at the end of the year The Unemployment Rate went up to 3.6% from 3.4% GBTC discount narrows after SEC…
Ad 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…