Breaking news coverage from cryptocurrency world about key figures, exchanges, startups, investment, applications, regulation and more.
Shares of First Republic Bank (FRC) have been in the red for the past year, shedding more than 48% in the last twelve months.
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.
According to Goldman Sachs, the relief package that is currently being provided to distressed banks stops short of similar reliefs implemented during the 2008 financial crisis.
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 US government appears to be solely focused on strengthening public confidence in its banking system.
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.
According to Bank of London co-founder and CEO Anthony Watson in a statement, the acquisition of Silicon Valley Bank SVB’s assets could be a unique opportunity to grow the banking sector in the United Kingdom.
South Korea is planning to become a metaverse hub by 2026. Within the five-year metaverse development roadmap, the country aims to activate the ecosystem for metaverse platforms, nurture professionals, and foster companies.
Compared to the $110 billion recorded in 2021, the Saudi Arabian oil giant’s net income took a significant leap by growing over 46% YoY in 2022.
While many are concerned about what the aftermath of the collapse of Silicon Valley Bank will be in the next couple of weeks and months, Treasury Sec Janet Yellen seems unfazed.