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Dante Disparte: Bank Failure, USDC And Contagion
The recent U.S. banks fallout is a stress test for both traditional finance and digital assets but to weather the storm side by side is a powerful opportunity, says Circle Chief Strategy Officer Dante Disparte. Dante Disparte, the chief strategy officer and head of global policy at Circle Internet Financial, has spoken out about the need for greater collaboration between the cryptocurrency industry and banks. Circle is the co-founder and issuer of USDC, a dollar-backed stablecoin with a market capitalization of US$39.5 billion. However, the stablecoin broke its dollar peg over the weekend after it was revealed that Circle held US$3.3 billion in reserve deposits at SVB. As a result, USDC fell to as low as US$0.8774 before gaining its dollar parity on Monday. Tune in to the latest episode of Word on the Block with Forkast Editor-in-Chief Angie Lau for more.
First Citizens to Buy Silicon Valley Bank: Bloomberg
SVB, a bankrupt lender, was the bank for some big crypto firms, including Circle Internal Financial.
SVB Financial’s First Bankruptcy Hearing ‘Wasn’t Really So Routine,’ Says Legal Expert
The former Silicon Valley Bank holding company needs access to the bank's FDIC-controlled funds to pay creditors and support two other operations, says Kleinberg, Kaplan partner Dov Kleiner.
SVB Financial Group Bankruptcy Hearing: Key Takeaways
SVB Financial Group, the former parent company of Silicon Valley Bank and the Federal Deposit Insurance Corporation (FDIC), appears to be at odds over $2 billion in cash. Kleinberg, Kaplan, Wolff and Cohen, P.C. Partner Dov Kleiner breaks down the key takeaways from the bankruptcy hearing and what is likely to happen next.
Former NY Regulator: Crypto Isn't the Reason Why Signature Bank Was Closed
The bank did not provide reliable and consistent data, said Maria Vullo, a former superintendent of the New York State Department of Financial Services.
SVB Collapse Shows the Rot in U.S. Banking and Dollars
Bank balances and money itself are effectively illusions. Reserve co-founder Nevin Freeman considers an alternative.
O colapso do SVB mostra a podridão dos bancos e dos dólares dos EUA
Os saldos bancários e o próprio dinheiro são, na verdade, ilusões. O cofundador da reserva, Nevin Freeman, considera uma alternativa.
El colapso del SVB muestra la decadencia de la banca y del dólar estadounidense
Los saldos bancarios y el dinero mismo son, en la práctica, ilusiones. El cofundador de Reserve, Nevin Freeman, considera una alternativa.
Крах SVB показує гниль банківської системи США та доларів
Банківські баланси та самі гроші фактично є ілюзіями. Співзасновник заповідника Невін Фрімен розглядає альтернативу.
L’effondrement du SVB montre la pourriture du secteur bancaire et du dollar aux États-Unis
Les soldes bancaires et l’argent lui-même sont en réalité des illusions. Le co-fondateur de Reserve, Nevin Freeman, envisage une alternative.