Silicon Valley Bank failure could trigger run on US regional banks
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses. Read More
Do Kwon had the right idea, banks are risk to fiat-backed stablecoins — CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. 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
Insolvency fears led many to turn to other stablecoins, sell USDC at a major discount
Several USDC holders have fled to other stablecoins amid fears surrounding its solvency. Read More