The post Circle will cover funds shortfall caused by Silicon Valley Bank collapse appeared on BitcoinEthereumNews.com. Circle stated that it initiated to transfer of $3.3 billion funds remaining in SVB However, the transfer was not processed as of Friday and the could be processed on Monday…
Stablecoin USDC falls below $1, faces $3.3 billion exposure to Silicon Valley Bank
The post Stablecoin USDC falls below $1, faces $3.3 billion exposure to Silicon Valley Bank appeared on BitcoinEthereumNews.com. USDC, a stablecoin that is supposed to trade one-to-one against U.S. dollars, has fallen below $1 on Saturday, after creator Circle said it had over $3.3 billion held at Silicon…
ICPT Stock Tumbles On New Obstacle For Its NASH Drug
The post ICPT Stock Tumbles On New Obstacle For Its NASH Drug appeared on BitcoinEthereumNews.com. Intercept Pharmaceuticals (ICPT) said Friday its experimental liver disease treatment will face a Food and Drug Administration panel in May, leading ICPT stock to tumble. X The FDA’s Gastrointestinal Drugs…
Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds
The post Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds appeared on BitcoinEthereumNews.com. USD Coin (USDC) issuer Circle plans to use “corporate resources” to cover the shortfall on its reserves following Silicon Valley Bank’s shutdown, said the company in a statement on March…
SVB’s New Owner, the FDIC, Gives Workers 45 Days of Employment
The post SVB’s New Owner, the FDIC, Gives Workers 45 Days of Employment appeared on BitcoinEthereumNews.com. (Bloomberg) — The Federal Deposit Insurance Corporation added a few new employees to its payroll late Friday, taking on workers from shuttered SVB Financial Group, at least for a few…
Cardano’s Trading Volume Hits Promising Levels — Could A Mega Rally Be Forming? ⋆ ZyCrypto
The post Cardano’s Trading Volume Hits Promising Levels — Could A Mega Rally Be Forming? ⋆ ZyCrypto appeared on BitcoinEthereumNews.com. Advertisement     Cardano’s (ADA) is one of the few altcoins to watch out for this weekend. In the month of March, ADA is slowly attempting to prove…
USDC will remain redeemable 1 for 1 with U.S. dollar, Circle says
The post USDC will remain redeemable 1 for 1 with U.S. dollar, Circle says appeared on BitcoinEthereumNews.com. USDC issuer Circle said it will resume normal operations Monday and that USDC will remain redeemable one-for-one with the U.S. dollar after Silicon Valley Bank collapsed. Circle said that…
Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds
USD Coin (USDC) issuer Circle plans to use “corporate resources” to cover the shortfall on its reserves following Silicon Valley Bank’s shutdown, said the company in a statement on March 11. According to Circle, USDC liquidity operations will “resume as normal when banks open on Monday morning in the United States,” enabling USDC redemption at […]
Top 3 Stablecoins to Buy instead of USDC
The post Top 3 Stablecoins to Buy instead of USDC appeared on BitcoinEthereumNews.com. The crypto scene was in shock as USDC de-pegged for the first time. Stablecoins were supposed to be…stable. However, it seems that market risks still affect even the mightiest players…
Circle Released its Examination Report After SVB Crisis
The post Circle Released its Examination Report After SVB Crisis appeared on BitcoinEthereumNews.com. Circle recently announced that it uses Silicon Valley Bank (SVB) to manage almost 25% of USDC reserves held in cash. After the Circle’s announcement, USDC started depegging, with USDC falling…