Barney Frank, a former member of the United States House of Representatives, has reportedly suggested New York regulators closed the crypto-friendly Signature Bank as part of a seeming show of force. According to a March 13 CNBC report, Frank — also a board member of Signature Bank — said the […]

According to Web3 analytics platform Watchers, a total of 314.167 million USD Coin (USDC) was sent by its issuer, Circle, to the Ethereum null address with header 0x00 on March 13. The null address is typically used to remove tokens from circulation via one-way transactions. On March 12, Circle announced […]

Several crypto firms, including Coinbase, Paxos, and Celsius, have reported their exposure to the now-shuttered Signature Bank, raising concerns about the safety of crypto funds. Regulators are taking actions to protect depositors and ensure ample liquidity for banks during times of turbulence following the forced closure of Signature Bank. Several […]

Global banking giant HSBC is coming to rescue the United Kingdom-based branch of the collapsed Silicon Valley Bank with a new acquisition. HSBC officially announced on March 13 that its subsidiary, HSBC UK Bank, is acquiring Silicon Valley Bank UK (SVB UK) for 1 British pound ($1.21). As of March […]

The failure of three major crypto-backing banks, Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank caused the stablecoin (USDC) to fall to as low as $0.87 from its $1 benchmark.  Amid the concern mounting around stablecoins, Binance CEO and co-founder Changpeng (CZ) Zhao tweeted on March 13 that with […]

Crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank.  The crypto-friendly Signature Bank was shut down by New York regulators on March 12 in conjunction with the United States Federal Deposit Insurance Corporation to […]

Japanese automotive brand Nissan has become the latest car manufacturer to ramp up its Web3 efforts, filing four new Web3-related trademarks filed in the United States, while its Japan unit is experimenting with auto sales in the metaverse. According to Nissan’s Mar. 7 trademark applications to the United States Patent […]

Nonfungible token marketplace OpenSea has reportedly patched a vulnerability that, if exploited, could have exposed identifying information about its anonymous users.  In a March 9 blog post blog, cybersecurity firm Imperva detailed how it discovered the vulnerability, which it claimed could deanonymize OpenSea users “by linking an IP address, a browser […]

New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority. The Federal Reserve explained in a March 12 statement that the decision was made in conjunction with United States Federal Deposit Insurance Corporation (FDIC) to protect the U.S. economy and strengthen public confidence in […]

Global clearing institution Bank of London has submitted a formal proposal to acquire the Silicon Valley Bank’s subsidiary in the United Kingdom, according to a statement disclosed by Reuters on March 12.  As per the statement, the purchase is an effort from a consortium of private equity firms: “A consortium […]