According to Circle, USDC liquidity operations will “resume as normal when banks open on Monday morning in the United States,” enabling USDC redemption at 1:1 with the U.S. dollar. USD Coin (USDC) issuer Circle plans to use “corporate resources” to cover the shortfall on its reserves following Silicon Valley Bank’s shutdown, said the company in...Continue Reading

The trading freeze follows an analysis from DeFi’s risk manager firm Gauntlet Network considering different scenarios for the USD Coin price. Lending protocol Aave has frozen stablecoins trading and set Loan-to-Value (LTV) ratio to zero in response to recent price volatility on stablecoins after the USD Coin (USDC) depegged on March 11.  According to the...Continue Reading

According to insiders, 50% of uninsured deposits will be paid out by next week. According to a post on Mar. 11 by Bob Elliot, chief investment officer of Unlimited Funds, relief efforts may already be underway less than 72 hours after the collapse of prominent American tech bank Silicon Valley Bank (SVB). Elliot claimed, among...Continue Reading

Cosmos governance has approved the v9-Lambda upgrade, including interchain security and possibly kicking off a “virtuous real yield cycle.” The Cosmos community has approved a vote to add “replicated security (RS)” to its chain, with 99.99% of votes in favor of the motion. The much-awaited upgrade is set to go live on March 15, 2023,...Continue Reading

The USD Coin depeg led the DeFi protocol to experience a record-breaking daily trading volume as crypto whales fight for assets. Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of...Continue Reading

It is unclear how much assets custodied on behalf of crypto VCs are stuck in Silicon Valley Bank. According to a report that began circulating on March 11 in the aftermath of the collapse of Silicon Valley Bank (SVB), prominent blockchain venture capitalists (VCs) have over $6 billion worth of assets held by the now-defunct...Continue Reading

Explore decentralized web hosting and how it distributes data securely across a network of nodes. Decentralized websites rely on decentralized networks rather than centralized servers to preserve and verify the data’s integrity. Decentralized websites offer a more private, secure and censorship-resistant alternative to standard websites by utilizing peer-to-peer (P2P) networking, cryptography and blockchain. This article...Continue Reading

The depegging of the USDC stablecoin has affected other stablecoins, wreaking havoc on crypto projects and stakeholders in a massive chain reaction. In response to the extraordinary depegging event of the USD Coin (USDC) stablecoin caused by the collapse of its counterparty Silicon Valley Bank (SVB), crypto whales have reported severe losses and appear to...Continue Reading

Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community. Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community, leading many to come back to crypto roots, reviving the Bitcoin white paper published just weeks after...Continue Reading

Token incentive models may become obsolete as layer-2 networks focus on ease of functionality and low fees, but how will this impact decentralization? Layer-2 networks continue to gain momentum as the Ethereum ecosystem advances. For example, data from analytics provider Token Terminal found that layer-2 scaling solution Polygon had 313,457 daily active users as of...Continue Reading