US Fed announces $25B in funding to backstop banks
The Federal Reserve established a funding program for banks, making $25 billion available to eligible firms in a bid to avoid further banking liquidity issues.
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Extreme Market Turbulence: Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik’s Token Sell-Off Moves Markets, and More — Week in Review
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social…
Bill Ackman warns US gov’t: Fix mistake in ‘48 hours’ or face ‘destruction’
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired.
Breaking: USDC slowly repegs on unconfirmed reports of SVB resolution
According to insiders, 50% of uninsured deposits will be paid out by next week.
Bitcoin price spikes to ‘$26K’ in USDC terms — How high can the BTC short squeeze go?
Bitcoin recovers from the USDC’s depeg from the U.S. dollar.
Circle discloses $3.3B tied up at Silicon Valley Bank
Circle joined other customers and depositors in calling for the continuity of SVB in the US economy.
Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF
BlockFi’s capital allocated to the money market mutual fund is not FDIC insured, however the fund doesn’t appear to be managed by Silicon Valley Bank.
$920B is the number to watch now that crypto’s trillion dollar total market cap is gone
The crypto market is taking a walloping, and there are three important reasons why BTC’s $380 billion valuation is a key support for the entire market.