Crypto exchange giant Binance, stablecoin USDT issuer Tether, and Binance USD(BUSD) stablecoin issuer Paxos announced on Twitter that they have no exposure to collapsed bank Silicon Valley Bank.
Silicon Valley Bank was closed by the California Department of Financial Protection and Innovation.
#Binance does not have exposure to SVB. Funds are #SAFU.
— CZ 🔶 Binance (@cz_binance) March 10, 2023
#tether doesn't have any exposure to SVB
— Paolo Ardoino 🍐 (@paoloardoino) March 10, 2023
Statement from Paxos: Paxos has no relationship with Silicon Valley Bank. For further certainty, Paxos stablecoins have zero exposure to Silicon Valley Bank failure.
— Paxos (@PaxosGlobal) March 10, 2023
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