Coinbase reportedly offered a $3.3 billion credit line to Circle to ensure liquidity for USDC following the FDIC's decision to shut down Silicon Valley Bank.
Marathon Digital lost $687 million in 2022. The bitcoin miner's Q4 revenue fell by 58% to $28.4 million. The firm blamed falling digital asset prices for the massive loss.
Bankruptcy Judge Michael Wiles has rejected the U.S. Justice Department's appeal to put a stay on Voyager Digital's sale to Binance US, a deal valued at $1.3 billion.
Cathie Wood's Ark Invest has unveiled a new crypto fund that has raised more than $16 million from private investors. The fund is split into a domestic entity based in Florida and a foreign version based in the Cayman Islands.
Shareholders of Signature Bank have sued the bank and three of its former executives for fraud. The class action lawsuit accused the bank of misrepresenting its financial health.
Binance is set to suspend deposits and withdrawals via bank transfers for its UK-based customers. The decision comes after the exchange's local banking partner ended ties due to the regulatory environment.
The U.S. Department of Justice has launched a probe into the collapse of TerraUSD. Telegram conversations between employees of Jane Street, Jump Trading, and Alameda Research are currently being scrutinized to look for signs of market manipulation.
Binance is reportedly looking to acquire CoinDesk for around $75 million. Negotiations for the deal are currently on hold as the exchange is anticipating an exodus of journalists following the acquisition.
The dYdX community has voted in favor of a proposal that seeks to slash the DEX's trading rewards by 45%. The approval sent native token dYdX soaring by over 21%.
Summary: Crypto exchange Coinbase reinstated USDC/USD conversions on Monday after turbulence over the weekend. Circle previously halted stablecoin minting after troubles in the U.S. banking system involving major banks like Silicon Valley Bank and Signature. President Joe Biden said that the banking system is safe but executives at SVB and...
Circle CEO Jeremy Allaire has stated that his firm may be able to recover all of the $3.3 billion stuck at Silicon Valley Bank. In case the recovery is delayed, Circle will back USDC using external capital if necessary, he added.
