Silvergate and SVB bite the dust: Law Decoded, March 6–13.

by Aurelia Butler 13 March 2023, 20:40 179 Views

A couple of days later, another Federal Deposit Insurance Corporation-insured institution, Silicon Valley Bank (SVB), was shut down by California’s financial watchdog. The bank provided financial services to several crypto-focused venture firms, including Andreessen Horowitz and Sequoia Capital, with USD Coin (USDC) issuer Circle holding around 20% of its reserves with the bank. Following the news, USDC depegged and lost over 10% of its value in 24 hours.

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Source: Cryptocurrency - investing.com

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Silvergate and SVB bite the dust: Law Decoded, March 6–13.

FirstFT: SVB collapse hits global markets

As hawkish Fed pricing goes away, bullish dollar calls fade

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