Coinbase announced that it had about $240 million in corporate funds at Signature Bank, but expects a full recovery of all its funds.
According to Circle, the bulk of its reserve for the USDC stablecoin is domiciled in US Treasury Bills.
Garlinghouse noted that financial systems are broken given their high susceptibility to rumors as evidenced by the current banking crisis.
Pressure continues to mount on stablecoins given the current situation that has seen three major crypto-backing banks collapse in the past few days.
USDC stablecoin issuer Circle has a staggering $3.3 billion of its total reserves with the Silicon Valley Bank. Circle has promised to cover any shortfall using corporate resources as well as external capital if required.
The MiCA law focuses on the management and strict rules for crypto asset service providers.
The whale address has liquidate all its Moonbirds NFTs incurring losses as high 32% on its investments.
Nissan isn’t the first automaker to file a patent for its products. General Motors, Ford, and Benz have all filed multiple Web3 trademark applications.
Danish toy giant Lego is building on its metaverse push by partnering with gaming facilitator Epic Games to target digital markets.
Interesting price action was experienced in Huobi Token over the past 24 hours in which the digital currency, native to the Huobi Global exchange experienced a flash crash with its price dropping by as much as 93%. In what is considered a very rare event, the digital currency rebounded at almost the same rate within a short time.
Citing the strong deterioration in the macroeconomic data, Blockchain.com decided to shutdown BACM that served institutional players.
ChatGPT creator OpenAI plans to create more customization resources for its teeming AI subscriber base to offer an overall improved service.
In its Q4 2022 report, fintech Bakkt also revealed plans to tie up its acquisition of crypto exchange Apex Crypto.
Silicon Valley Bank operating as SVB Financial Group is seeing the worst of its days with its share price plunging by 23.52% in the Pre-Market, following a massive slump of 60.41% on Thursday.
Crypto venture capital firms advised their portfolio companies to pull their investments from American commercial bank Silicon Valley Bank (SVB).