At the time of writing, USDC lost 3% of its value as it traded at $0.969, and a Circle executive envisions broader implications for business, banking and entrepreneurs without a Federal rescue plan.
Circle’s earlier disclosure that $3.3 billion worth of USDC reserves were held with Silicon Valley Bank resulted in it losing market share to its competitor…
Bank run on Silicon Valley Bank, USDC depegged from U.S. dollar and FTX’s bankruptcy expenses hit $34 million in January.
An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom.
A bank rescue plan for Credit Suisse may impose losses on its bondholders and even result in a full or partial nationalization of Credit Suisse…
Banking giant HSBC announced that its U.K. arm is acquiring Silicon Valley Bank UK Limited (SVB UK) for one pound ($1.21).
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