USDC depeg – Everything we know so far as contagion spreads from TradFi banking
USDC depeg – Everything we know so far as contagion spreads from TradFi bankingCoinbase and Binance both suspend USDC conversions until the dollar peg stabilizes, while BlockFi and Avalanche both reveal ties to SVB.
Happy SaturdayThe global crypto market cap is $931.59 billion with a 24-hour volume of $93.35 billion. The price of Bitcoin is $20,250.25 and BTC market dominance is 42.0%. The price of Ethereum is $1,442.35 and ETH market dominance is 18.9%. The best performing cryptoasset sector is Manufacturing, which gained 13%.
Latest NewsUSDC depeg – Everything we know so far as contagion spreads from TradFi banking
Coinbase and Binance both suspend USDC conversions until the dollar peg stabilizes, while BlockFi and Avalanche both reveal ties to SVB. Op-ed: The pound’s decline paves the way for Bitcoin adoption in the UKThe UK government turns to crypto in bid to restore former economic glory in the digital age. Crypto Twitter labels Senator Warren ‘tone deaf’ on crypto audits amid SVB meltdownThe community said the tweet was Warren's latest attempt to demonize the crypto industry and called it "tone deaf" amid the banking crisis involving Silicon Valley Bank (SVB). MacroSlate Weekly: SVB shut down, Powell has to decide between a new financial crisis or raising inflation targetBanks halted on exchanges, bank runs, BTC drops below $20k and an indecisive market for 25 or 50bps rise SEC Wells Notice, what is it and why more may be comingOn Feb. 3. Paxos received a Wells Notice from the SEC indicating that they were under investigation. SEC denies VanEck Bitcoin spot ETF for a third time; commissioners dissentCommissioner Hester Peirce says the SEC's rules are "uniquely burdensome." Circle, BlockFi may have exposure to Silicon Valley Bank; other firms deny exposureSVB's collapse marks one of the largest bank failures in U.S. history. U.S. government appeals Voyager-Binance.US dealThe appeal comes shortly after Voyager received permission to sell its assets. Crypto lawyer rallies Ethereum investors in class action lawsuit against NYAG’s ‘securities’ labelJohn Deaton opens registration for class action lawsuit, calling for the XRP and ETH communities to put aside past animosities. Cardano rises 6% against Bitcoin despite broad market sell-offWhen Cardano's ADA value is denominated in US Dollar, it has fallen by 2.54% and is trading for $0.31589 as of press time.
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Crypto liquidations top $300M as Bitcoin drops below $20k
Friday, March 10, 2023
Bitcoin had a negative netflow of $13.7 million as investors withdrew more BTCs from exchanges during the last 24 hours, according to Glassnode data.
Ethereum Foundation makes new Goerli Shapella announcement
Thursday, March 9, 2023
The ability to withdraw staked Ethereum may soon be here, as Shapella (Shanghai + Capella) unstaking upgrade goes live on the Goerli testnet.
Ripple CEO says SEC has no infrastructure for registered tokens
Wednesday, March 8, 2023
Ripple CEO Brad Garlinghouse said the US crypto industry need to rebuild trust by enabling more transparency and creating utility.
Algorand blasted over inaction on ongoing wallet drain hack
Tuesday, March 7, 2023
Algorand Foundation responds to wallet hack, urging users to switch to more secure wallet options.
Stablecoins inflow to Ethereum L2s rise 5% to over $2B
Monday, March 6, 2023
In February, Arbitrum's stablecoin inflow averaged over $10 million per day as the network saw a total influx of around $300 million.
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