Share: China stock investors could suffer from the shock collapse of US lender Silicon Valley Bank Financial group according to a recent report by Reuters. China’s CSI300 Index dropped nearly 4% last week, while Hong Kong’s Hang Seng tumbled … [Continue reading]
How contagious is Circle’s USDC contagion: Will US Fed bail out crypto-friendly banks?
Share: Silicon Valley Bank’s collapse and Circle’s USDC stablecoin’s depeg have triggered a fast-spreading contagion in crypto. Ethereum is now being considered a security by US financial regulators and this has resulted in widespread FUD … [Continue reading]
Where does Vitalik Buterin’s allegiance lie: RAI or Circle’s stablecoin USDC?
Share: Vitalik Buterin’s wallet addresses converted 20,040 RAI to 56,746 USDC earlier today. Buterin has previously shared his optimism on Reflexer’s algorithmic stablecoin that is backed by Ethereum. It is uncertain whether Buterin’s … [Continue reading]
Can Bitcoin accumulation by sharks and whales catalyse BTC price recovery?
Share: Bitcoin sharks and whales, holding between 10 and 10,000 BTC have collectively accumulated $821.5 million worth of the asset. During the recent BTC price drop below $20,000, large wallet investors on Bitcoin network started to “buy the … [Continue reading]
Will Circle’s stablecoin suffer same fate as UST: Binance and Coinbase react to USDC depeg
Share: Coinbase announced a temporary pause in the USDC:USD conversions over the weekend while banks are closed. Binance launched stablecoin spot trading pairs with fee promotions and discontinued withdrawals of USDC, USDP or TUSD in exchange … [Continue reading]
Breaking: $3.3 billion of Circle’s USDC reserves stuck at Silicon Valley Bank
Share: US-based stablecoin issuer Circle announced that it held its money in the now-defunct Silicon Valley Bank. In response to this development, Binance disabled the auto-conversion of USDC to BUSD due to high deposits. Circle's ambiguous … [Continue reading]
Breaking: Binance suspends conversion of USDC after Circle’s banking partner Silicon Valley Bank collapses
Share: US-based stablecoin issuer Circle announced that it held its money in the now-defunct Silicon Valley Bank. In response to this development, Binance disabled the auto-conversion of USDC to BUSD due to high deposits. Circle's ambiguous … [Continue reading]
US Judge repudiates FTX founder Sam Bankman Fried’s bail condition, new proposal to be submitted
Share: FTX former head has been criticized for attempting to contact former or current FTX employees. US District Judge Lewis Kaplan stated that Sam Bankman Fried was too inventive and would find a way around current conditions. FTT price in the … [Continue reading]
EUR/USD climbs on high inflation data in Germany, as the USD sinks post US NFP
Share: EUR/USD reached a two-week high at 1.0700 and finished the week with minimal gains. Sentiment shifted sour on a default by the Silicon Valley Bank in the US, at the risk of spillover in the sector. US jobs data was mixed but flashed signs of … [Continue reading]
Silver Price Forecast: XAG/USD rallies on traders’ rush to safety
Share: Silver advances more than 2%, set to finish the week almost flat. US jobs data was mixed, but the unemployment rate rose, signaling the cooling labor market. Traders rushed into precious metals, uncertain about next week’s US inflation data, … [Continue reading]