Okcoin suspends USD deposits in wake of Signature Bank closure
U.S. dollar withdrawals on Okcoin are not affected by the suspension.
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U.S. dollar withdrawals on Okcoin are not affected by the suspension.
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed.
Coinbase CEO Brian Armstrong says the exchange has previously considered adding features to become a neo-bank of sorts.
Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks.
Positive developments concerning Circle's $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg.
The New-York-based bank, which is also known to serve a number of crypto firms, was shut down by state regulators, according to a Federal Reserve announcement.
Silicon Valley Bank, the 18th largest bank in the U.S. by total assets, was closed down by regulators today after it suffered a bank run. Biggest Bank Failure Since the...