Stablecoins
USDC in circulation fell over 10% since de-peg event
Meanwhile, the largest stablecoin by market capitalization USDT has experienced an 8.7% increase in supply.
Dorian Batycka 2 min read
Banking News
Follow crypto banking news, de-risking, stablecoin rails, fintech partnerships, and how traditional finance is adapting to digital assets.
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Analysis
Bank of America said to be buying Signature Bank, tweets Bill Ackman
Back of America to Signature's rescue? According to the investor and renowned short-seller, BOA seems to be on the table.
Banking
Gemini founder Tyler Winklevoss describes US banking system as unequal
Several crypto community members pointed out that Bitcoin could help solve the problems highlighted by the Gemini co-founder.
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Analysis
US Banks borrow record-high $164.8B from Fed backstop facilities
Meanwhile, Circle's USDC stablecoin maintains $1 peg despite recent banking contagion and widespread fear in the banking sector.
DeFi
U.S. Banking turmoil halts NFT hype as DeFi thrives
During Mar. 11-12, Defi's transaction volume exceeded $58B, while Mar. 11 recorded least active NFT traders since November 2021.
Banking
US lawmaker says President Biden administration is weaponizing market chaos to kill crypto
Tom Emmer said the Federal Reserve's instant payments settlement system FedNow suggests that it is competing with private entities.
Analysis
Crypto market largely unaffected by ECB decision to hike rate by 50bps
The flagship cryptocurrency saw a slight sell-off in the hour following the ECB rate hike after briefly breaking $25,000 and was trading at $24,752.58, as of press time.
Analysis
Reuters report that any bank bidding for Signature “must give up all crypto business”
The FDIC has handed over auction of the bank to Piper Sandler, who will conduct a second auction on March 17.
Banking
Federal Reserve says FedNow will go live in July
The service has been said to address the same issues as a potential CBDC — set to launch the FedNow payment system in July.
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Regulation
Congressman Emmer attacks FDIC for ‘weaponizing’ bank closures to attack crypto
Banking
Anchorage Digital lays off 20% of staff as other crypto-friendly banks shutdown
Regulation
SEC, DOJ investigating Silicon Valley Bank: WSJ
Banking
