US Fed announces $25B in funding to backstop banks
The Federal Reserve established a funding program for banks, making $25 billion available to eligible firms in a bid to avoid further banking liquidity issues. Read More
Ripple CEO assures ‘strong financial position’ despite SVB collapse
In a short tweet thread with no specifics, Garlinghouse said the SVB situation would not disrupt daily operations. Read More
USDC bounces back toward $1 peg after Fed announcement
Positive developments concerning Circle’s $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg. Read More
Bill Ackman warns US gov’t: Fix mistake in ‘48 hours’ or face ‘destruction’
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” and should be fired. Read More
Over 100 VCs, investors voice solidarity with Silicon Valley Bank
Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank to limit the fallout of the bank’s collapse and the subsequent impact on tech companies. Read More
South Korea launches ‘Metaverse Fund’ to expedite domestic initiatives
With the help of the Metaverse Fund, South Korea will support the mergers and acquisitions of various firms from the metaverse ecosystem. Read More
How and why do stablecoins depeg?
Discover the causes and mechanisms behind stablecoin depegs. Read More
Elon Musk says he is ‘open to the idea’ of Twitter buying SVB to become a digital bank
On Friday, March 10, Elon Musk expressed his openness to buying Silicon Valley Bank following its collapse. The post Elon Musk says he is ‘open to the idea’ of Twitter buying SVB to become a digital bank appeared first on CryptoSlate. Read More
US Treasury Secretary Yellen working on SVB collapse, not a bailout: Report
Janet Yellen said in an interview on March 12 that U.S. regulators are working to address Silicon Valley Bank collapse, but not considering a major bailout. Read More
UK regulators moving ‘at pace’ to deliver plan for tech firms hurt by SVB collapse
An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom. Read More