Hodler’s Digest, 5-11 Mar. Posted by Cointelegraph

Silicon Valley Bank Declines, US Dollar Depeggles, FTX Issues $34M Invoices in January: Hodler’s Digest, March 5-11

Silicon Valley Bank Shut Down by California Regulator Holding Over $5 Billion for High-profile Crypto Capital

Silicon Valley Bank (SVB) closed by the California Financial Conduct Authority on March 10 after announcing a major sale of assets and stocks with the aim of raising additional capital. The California watchdog has designated the Federal Deposit Insurance Corporation (FDIC) as the recipient of insured deposit protection. However, the FDIC only insures up to $250,000 per depositor, per institution, and per ownership class. The bank held more than $5 billion in funds One of the major venture capital firms. Silicon Valley Bank is one of the 20 largest banks in the United States, providing banking services to cryptocurrency-friendly venture firms such as Sequoia Capital and Andreessen Horowitz.

USDC cancels trading with Circle confirming $3.3 billion remains stuck with Silicon Valley bank

(USDC) Issuer circuit confirmed That $3.3 billion of its $40 billion in reserves remains in a Silicon Valley bank, which triggered a sell-off that dropped the stablecoin below $1. The stablecoin ecosystem felt an immediate impact as USDC decoupled from the US dollar, with a major stablecoin Disengagement from the US dollar As a result, including DAI, USDD, and FRAX. The price of the US dollar slowly re-pegged late Saturday after turbulent trading hours. circle Plan to cover lost cash In SVB with corporate funds.

Silvergate Capital (NYSE:) to voluntarily liquidate Silvergate Bank

Attorneys for the SBFs point out that the criminal trial should be postponed to October

Biden’s budget proposes a 30% tax on cryptocurrency mining power use, a double tax on capital gains, and a ban on cryptocurrency laundering sales.

$20K struggles as the trader describes the 2008 banking mess again

Hedera confirms that the exploit on the mainnet led to the theft of service tokens

v. The Wall Street Journal for allegedly falsifying bank account documents

NY AG sues KuCoin for selling securities and commodities without registration

D&D nukes NFT ban, Kill-to-Earn zombie shooter, Illuvium: Zero hot take Web3 Gamer

A partner in the $54 billion fund runs the women-only DAO Blockchain Games Syndicate

Become a new NFT artist with soft shell taco method Terrell Jones, NFT Creator

Read on at Coin Telegraph

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