Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.
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While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.
“What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi," said Caroline Hill.
On March 12, Bitcoin futures traded 5.5% below regular spot exchanges, causing volatility in derivatives markets.
Coinbase assured users that their BUSD funds would remain accessible and they could still withdraw funds at any time.
Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.”
Circle announced a new banking partner after Silicon Valley Bank’s failure, and is expanding ties with BNY Mellon.
The market frenzy that started with the Silicon Valley Bank collapse is pushing BTC price higher but with some casualties left behind.
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.
Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.
On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve,…