The fire lit by Silvergate Bank and Silicon Valley Bank will make it harder for crypto to find financial partners.
Former FDIC Regulator: Friendliness Toward Crypto ‘Does Not Exist’
Jason Brett said despite regulators using the failure of three banks to target crypto, the industry itself is not in a crisis.
Silvergate Was Not Cut Off From Loans, FHLB Says
The Federal Home Loan Bank of San Francisco, the bank that supplied $4.3 billion to Silvergate late last year, did not force Silvergate to repay the advances which have been rumored to be the reason why the crypto-friendly bank had to go into voluntary liquidation, it said.
Don’t Get Your Hopes Up: SVB’s Demise Won’t Bring Interest Rates Down
The Federal Reserve’s new Bank Term Funding Program is a backstop for banks – but also a license to let interest rates rip.
When Will Crypto Learn From the Mistakes of Banks?
It’s time to bring the lessons of TradFi to crypto’s shadow banks, unregulated custodians and offshore exchanges – before another FTX or Silvergate.
Crypto bank Anchorage Digital cuts 20% of staff citing regulatory uncertainty
It’s unclear whether Anchorage Digital’s layoffs relate to the current turmoil in the U.S. banking sector.
Crypto Must Do Better to Be Banked, Say Industry Executives
The downfall of Silvergate, Signature and Silicon Valley banks have wounded digital assets. But crypto might one day work with big banks if the industry can mature, WAX CEO William Quigley and Maicon CEO Alex Liu suggested.
Should I Keep My Money in Bitcoin or a Bank?
The U.S. government is in the business of bailing out banks.
Bitcoin market cap flips tech giant Meta, widens gap on Visa
BTC’s market cap has climbed to the 11th spot amongst top assets by market cap and now sits behind electric vehicle maker Tesla.
Signature Bank’s Signet Platform Still Works, But Some Clients Have Moved On
A source told CoinDesk the real-time payments platform, popular with crypto businesses, will continue to be offered under the newly established Signature Bridge Bank entity.
Banking Crisis Won’t Kill Crypto-Banking Despite Short-Term Pain
From alternative banks to on-chain banking, crypto banking still has plenty of options, experts say.
Bitcoin Was Built Was for This Moment
Amid a U.S. banking crisis, value is flowing into bitcoin. Is this the beginning of the “Great Reset”? investor and author Tatiana Koffman asks.
BlockTower Capital Funds Had Exposure to Silvergate, Signature Bank
Four funds with about $940 million in gross asset value had exposure to the custodians, as of May 2022.
Bitcoin Miner Marathon Says It Still Has Access to $142M at Signature Bank
Marathon terminated a credit facility with Silvergate last week.
OKX-Affiliated OKCoin Pauses USD On-Ramp Due to Signature Bank’s Collapse
OkCoin CEO Hong Fang tweeted that customer deposits are safe and USD withdrawals are not affected.
‘Nobody left to bank crypto companies’ — Crypto Twitter reacts
Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks.
Biden vows to hold those responsible for SVB, Signature collapse
US President Joe Biden on Twitter said he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.”
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.
Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns
$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System.
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.