Circle initially agreed to go public as part of a $4.5 billion merger in July 2021 but that deal fizzled out.
Tether adds Bahamas-based private bank Britannia as partner: Report
Tether’s reported new partnership with Britannia Bank makes it the third Bahamas-based bank to join forces with the stablecoin issuer.
Circle Was Top Depositor Aided by SVB Government Rescue: Bloomberg
The FDIC guarantee included over $3.3 billion the USDC stablecoin issuer held at the lender.
Stablecoins are a critical countermeasure to Operation Chokepoint
Stablecoins could help crypto firms to remove themselves from the banking system — and prevent the U.S. government from cutting off their financial lifelines.
Senators slam bank execs for blaming collapses on crypto, pocketing millions
Senator Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse.
US regional bank shares sink despite Fed calling banking system ‘sound’
PacWest Bancorp was the hardest hit bank after-hours on Wednesday, falling over 50% following a reported plan to explore strategic options.
Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says
The federal banking regulator said Signature’s exposure to crypto industry deposits was also a contributing factor to its failure.
NFT markets are out of balance with sellers dominating
In April there hasn’t been a single day where total sellers on the market haven’t exceeded total buyers.
US Treasury seeks to tighten nonbank rules following banking crisis
Janet Yellen called for further regulation of nonbank institutions claiming they pose a systemic risk to U.S. financial stability.
Tether market cap eyes record high after regaining 65% stablecoin dominance
The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle.
Hong Kong virtual bank to offer crypto conversions and accounts: Report
The account services for crypto firms come at a time when United States-based companies are struggling to find local banking partners and are frequently looking abroad.
Circle and BlockFi questioned on banking with SVB by Warren and AOC
Circle and BlockFi executives were questioned after the lawmakers accused SVB of “coddling” and giving “white glove” treatment to its largest depositors.
Sen. Warren, Rep. AOC Ask Circle, BlockFi Why They Banked at SVB
Sen. Elizabeth Warren (D-Mass.) and Congresswoman Alexandria Ocasio-Cortez (D-New York) want to know why crypto companies, like bankrupt crypto lender BlockFi and stablecoin issuer Circle, banked at now-collapsed Silicon Valley Bank.
Scaramucci: ‘We’re through the bear market’ as Bitcoin notches up 70% YTD
Bitcoin’s strong start to 2023 is persisting despite numerous headwinds, and is currently outperforming the S&P 500 Index by nearly 60 percentage points.
Tether supply hits $80B for the first time since May 2022 — stablecoin rivals stumble
Tether supply across cryptocurrency exchanges has dropped 28% in 2023, however, hinting at an overall decline in demand for stablecoins.
That Binance Suit Sure Seems Bigger Than Just a CFTC Case
Between Coinbase, Binance, Justin Sun, Do Kwon and Custodia, there has been just so much news over the last week. And that’s largely just the U.S. But Binance is the most interesting, not only for what happened (the Commodity Futures Trading Commission sued it), but also for what didn’t (the Department of Justice hasn’t filed anything). Plus, the CFTC’s Tech Advisory Committee met last Wednesday.
Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures
Nellie Liang, the U.S. Treasury Department’s undersecretary for domestic finance, doesn’t believe that the digital assets sector should be blamed for the runs on Silicon Valley Bank (SVB) and Signature Bank that led to their quick demise earlier this month.
The Short-Sightedness of Run-Amok Regulators
Ric Edelman, founder of the Digital Assets Council of Financial Professionals, talks about a key reason why crypto’s future looks bleaker: an apparent effort to cut it off from U.S. banks.
U.S. Bank Regulators Investigating Leaders of the Failed Tech Banks
The Federal Deposit Insurance Corp. is investigating the actions of the leaders of Signature Bank and Silicon Valley Bank to hold them accountable for their collapses, said Chairman Martin Gruenberg, who detailed their mismanagement and dangerous business concentrations – especially in digital assets at Signature – in testimony prepared for a U.S. Senate hearing.
First Mover Americas: First Citizens Scoops Up Big Chunks of Silicon Valley Bank
The latest price moves in bitcoin (BTC) and crypto markets in context for March 27, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.
