How Problems with Banks and Stablecoins Boosted Bitcoin
In March, the cryptocurrency industry faced a significant test as three banks, SVB, Silvergate, and Signature, collapsed, causing a chain of events that once again highlighted the importance of securing stablecoins and gave momentum to the growth of Bitcoin. The collapse of SVB was initially pred ...
ARK Invest CEO: Cryptocurrencies are now seen as protective assets during US banking crisis
During the ongoing banking crisis in the United States, the perception of cryptocurrencies has shifted from a risky asset to a protective asset, according to Cathie Wood, the CEO of investment fund ARK Invest. Wood blames the US Federal Reserve and other regulators for the collapse of Silicon Val ...
TUSD Operator Transfers $1 Billion to Bahamas Following Collapse of Crypto-Friendly US Banks
Bloomberg reports that following the recent collapse of US banks that were favorable to cryptocurrencies, the operator of the fifth largest stablecoin worldwide, TUSD, has transferred $1 billion in assets to the Bahamas. Archblock, which manages approximately $2 billion in reserves to back the Tr ...
Banks in Crypto Industry Facing Challenges: Silvergate, Signature, and Silicon Valley Terminate Operations
Silvergate Bank March 2023 has been a challenging month for banks operating in the crypto industry. The termination of operations has already been announced by Silvergate, Signature and Silicon Valley. What awaits crypto investors amid these events? Silvergate Bank The ...