The U.S. subsidiary of cryptocurrency exchange OKX has not approached defunct U.S. tech bank Silicon Valley Bank (SVB), according to a March 13 tweet from Okcoin CEO Hong Fang.
Lawyers representing bankrupt cryptocurrency lender BlockFi Inc. said that while the company has more than $200 million in exposure to Silicon Valley Bank,
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.
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.
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.
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,”
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 .
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.
Privacy-oriented blockchain platform Aztec is preparing to shut down Aztec Connect, the network's privacy infrastructure that serves as an encryption layer for ethereum
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.
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.
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.
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.
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.
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.
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.
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.
