Crypto Evening Briefing: Circle Says USDC Operations Unaffected by SVB, Signature Closures
The closure of Silicon Valley Bank and Signature Bank won’t affect Circle’s USDC operations.
Circle Reserves Worth $3.3B at SVB To Be ‘Fully Available’ Soon
Popular stablecoin issuer Circle has announced that the $3.3 billion in USD Coin (USDC) reserve deposits held with Silicon Valley Bank will be fully recovered when banks reopen in the United States on Monday.
Circle Says USDC Operations Unaffected by SVB, Signature Closures
The closure of Silicon Valley Bank and Signature Bank won’t affect Circle’s USDC operations.
USDC Feeling Intense Pressure Despite Fed Action To Halt SVB Contagion
USDC and other cryptocurrencies were having a rough trading session Monday following an announcement from U.S. authorities outlining measures to minimize the impact of the collapse of Silicon Valley Bank.
Germany Says No Threat To Its Financial Stability After SVB Collapse
Germany's finance watchdog said Monday the collapse of the Silicon Valley Bank in the United States posed no financial threat in Germany, amid market jitters over contagion fears.
Regulator Takes Control of Silicon Valley Bank’s Canadian Branch
A Canadian banking regulator on Sunday said it was taking temporary control of Silicon Valley Bank's (SIVB.O) unit in the country, as the fallout from the collapsed U.S. startup-focused lender reverberated around the world.
JPMorgan Among Big Banks Bidding To Acquire SVB, But There’s A Catch
SVB Financial Group, the parent of Silicon Valley Bank, is under acquisition talks after the failure of the Silicon Valley Bank caused chaos in the global market and stablecoins to depeg. Big banks are considering buying SVB Financial Group, but the crypto market will remain unbanked to Silicon Valley Bank.
Silicon Valley Bank Signed Exclusive Banking Deals With Some Clients, Leaving Them Unable To Diversify
Silicon Valley Bank had exclusivity clauses with some of its clients, limiting their ability to tap banking services from other institutions, SEC filings show.
HSBC Subsidiary to Acquire Silicon Valley Bank's U.K. Unit for 1 Pound
HSBC Holdings Plc (HSBA) said that its U.K ring-fenced subsidiary, HSBC U.K. Bank, is acquiring Silicon Valley Bank U.K. (SVB U.K.) for British pound 1, as per a filing.
Joint Statement by the Department of the Treasury, Federal Reserve, and FDIC:Take the Necessary Steps To Ensure That Depositors’ Savings Remain Safe
Finally, the Federal Reserve Board on Sunday announced it will make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors.
