$22 Trillion in US Banking System Backed by Just $225 Billion at FDIC: Bitcoin Proponent Gabor Gurbacs
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submitted by /u/Whole_Visible [link] [comments]
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.
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others […]
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The trading freeze follows an analysis from DeFi’s risk manager firm Gauntlet Network considering different scenarios for the USD Coin price.
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submitted by /u/bingorunner [link] [comments]
According to insiders, 50% of uninsured deposits will be paid out by next week.
EDIT: Please upvote so this gets visibility. I'm seeing downvotes already (clearly from Nexo defenders). I've been using the Nexo card for purchases. For those who don't know, it's an instant credit-line card – each purchase gives you 0.5-2% cashback and increases the existing credit line by the respective purchase amount, which you can repay…
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