Bitcoin Skyrockets 30% Weekly on the Fed’s $300B Bank Bailout
Things change fast in the cryptocurrency industry. In the span of seven days, the market shifted completely, with the sentiment escaping the fear zone. The total capitalization also soared, adding a whopping $165 billion in the process. But what happened? Well, let’s dive in.
Crypto Evening Briefing: Silicon Valley Bank's Parent Company Files for Bankruptcy
Silicon Valley Bank's parent company SVB Financial Group (SIVB) has filed for Chapter 11 bankruptcy protection.
Silicon Valley Bank's Parent Company Files for Bankruptcy
Silicon Valley Bank's parent company SVB Financial Group (SIVB) has filed for Chapter 11 bankruptcy protection.
Breaking: Silicon Valley Bank Officially Files for Chapter 11 Bankruptcy
Silicon Valley Bank has officially filed for Chapter 11 bankruptcy in New York, according to market sources.
Here’s What On-Chain Data Tells Us About Crypto’s Reaction to the Demise of Silicon Valley Bank And USDC’s Depegging
Below, we’ll look at a few data points that explain what happened over the weekend and what could be in store for crypto in the near future.
Bank Runs, USDC Depeg, Bailouts, and The Strengthening Case for Crypto
Making sense of what was happening over the weekend.
SVB Collapse Chilled NFT Trading Volumes
Nonfungible token (NFT) trading volumes took a massive beating following the collapse of Silicon Valley Bank (SVB) last week as traders fled the markets fearing the repercussions of a major United States bank going under. According to a March 16 report from data aggregation platform DappRadar, NFT trading volumes were hovering between $68 million to $74 million in the lead-up to SVB’s collapse on March 10, then fell to $36 million on March 12. The dip was accompanied by a 27.9% drop in daily NFT sales count between March 9 to March 11. (Cointelegraph)
What’s Going On? The Silicon Valley Bank Collapse vs. the 2008 Financial Crisis
Here’s a simple explanation to the differences between the collapse of SVB and the 2008 Financial Crisis. The biggest risk for SVB lies in its high concentration in the technology industry.
European Commissioner Says Impact of SVB Collapse 'Limited' as Credit Suisse Drags Down Banking Stocks
Silicon Valley Bank’s (SVB) collapse has had a “limited impact” on the European Union but authorities must still “stay alert” to events as they unfold, European Commissioner Mairead McGuinness has said. Despite McGuinness’ reassuring remarks, stocks of Europe’s largest banks still plunged by as much as 10% on March 15.
FDIC Asked Signature Buyers To Stop All Crypto Business: Report
The United States’ Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks to not support any crypto services.
