Industry
No immediate danger to BlockFi, despite Silicon Valley Bank risk
Lawyers representing bankrupt cryptocurrency lender BlockFi Inc. said that while the company has more than $200 million in exposure to Silicon Valley Bank,Hallie GillU.S. banks experience volatility, trading halts amid bank failures and presidential assurances
Shares of bank stocks had a roller-coaster ride over the weekend and on March 13. Trading at dozens of regional U.S. banks has temporarily halted amid volatility and falling prices.Jerry McNeillFBI, New York authorities investigate TerraUSD stablecoin debacle
The U.S. Department of Justice is reportedly investigating the collapse of the TerraClassicUSD (USTC) stablecoin, which cost the Terra ecosystem $40 billion last May.Sherry CantwellBiden promises 'at no cost to taxpayers' to protect SVB, Signature savers
The overnight collapse of two major traditional banks Silicon Valley Bank (SVB) and Signature Bank set off a chain of events that impacted millions of businesses, venture capitalists, and bottom-line investors.Barry StidhamSignature Bank shut down for failing to provide data, watchdog says
According to a March 14 report by the International Business Times, the New York State Department of Financial Services (NYDFS) closed Signature Bank because of “failure to provide consistent and reliable data,”Craig GreenSignature Bank and ex-executives sued by shareholders for alleged fraud
On March 14, a class-action lawsuit was filed against the recently shuttered crypto-friendly New York-based Signature Bank and former CEO Joseph DePaolo, CFO Stephen Wyremski and COO Eric Howell for alleged fraud, Reuters reports .Christopher SmithTassat Blockchain Joins FedNow Service with B2B Portal as Pilot Ready to Launch
Blockchain operator Tassat announced on March 14 that it will provide access to the U.S. Federal Reserve’s FedNow payments system.Cornell RachelBinance CEO Announces Restoration Fund Switch From BUSD To "Native Cryptocurrency"
The collapse of three major crypto-friendly banks Silicon Valley Bank (SVB), Silvergate Bank, and Signature Bank has caused the U.S. Dollar Coin (USDC) stablecoin to drop from its $1 peg to $0.87.Martha GrizzardPrivacy-focused blockchain network shuts down Aztec Connect tool
Privacy-oriented blockchain platform Aztec is preparing to shut down Aztec Connect, the network's privacy infrastructure that serves as an encryption layer for ethereumHallie Gill11 DeFi protocols lost including Balancer due to Euler attack
The March 13 flash loan attack on Euler has gone viral, causing 11 different decentralized finance (DeFi) protocols to freeze or lose funds, according to their respective reports on Twitter.Jerry McNeillOpenSea patches vulnerability that could have exposed user identities
Non-fungible token marketplace OpenSea has reportedly patched a bug that, if exploited, could have exposed the identities of its anonymous users.Sherry CantwellNissan files for 4 new Web3 trademarks, test-markets them in the Metaverse
Japanese car brand Nissan has become the latest automaker to step up its Web3 efforts filing four new Web3-related trademarks in the US while its Japanese subsidiary is experimenting with car sales in the metaverse.James DeanMeta Terminates NFTs on Instagram and Facebook
Major tech firm Meta is removing its non-fungible token functionality from its social media platforms Facebook and Instagram about 10 months after they first launched.Barry StidhamCoinbase CEO Reflects on Banking Functions After Silicon Valley Bank Crisis
The broader cryptocurrency community continues to debate the lingering fallout from the collapse of three major U.S. banks and calls for neobanking for the industry.Craig GreenUS Treasury Secretary Yellen is committed to SVB collapse, not bailout
U.S. Treasury Secretary Janet Yellen is reportedly working with regulators to resolve the Silicon Valley bank failure and protect investors, but isn't considering a massive bailout.Cornell RachelDAO Maker Founder Built Game Based on Abandoned Logan Paul Project in Just 30 Days
Degen Zoo, an NFT game inspired by YouTuber Logan Paul's controversial Crypto Zoo concept, has more than 115,000 wallets signed up to join the game, with over $700 million pledged.Martha GrizzardSilicon Valley Bank Collapse: Everything That Happened So Far
The sudden collapse of Silicon Valley Bank (SVB) unfolded rapidly last week, decoupling from stablecoins, leading regulators in the U.S. and U.K.Wayne IngramNo one is leaving the bank crypto firms’ Crypto Twitter reacts
With the loss of two major crypto-friendly banks in less than a week, crypto companies may find it harder to reach traditional banking partners, according to some in the crypto community.Martha GrizzardRipple CEO Assures 'Sound Financials' Despite SVB Collapse
Ripple CEO Brad Garlinghouse took to Twitter on March 12 to discuss the company’s exposure to Silicon Valley Bank and reassure his followers of Ripple’s stability.Wayne IngramIndian student commits suicide after falling victim to bitcoin scam
A second-year B.Com student from the Indian city of Lucknow reportedly hanged himself after losing 3.5 lakh rupees ($4,200) worth of his bitcoin investments.Hallie Gill
