In the wake of last week’s bank collapse – the fall of Silicon Valley Bank, and the related collapses of the crypto-centered Silvergate and Signature banks – there’s been a swirl of discussion around ...
Tag: Cover
Circle Plans to Cover USDC Shortfall After SVB Shutdown
Circle, the issuer of the stablecoin USD Coin (USDC), has been forced to take action to cover a significant shortfall in its reserves after the closure of Silicon Valley Bank (SVB), one of the largest...
Circle Pledges To ‘Stand Behind’ USDC And Cover Missing Liquidity In Failed Silicon Valley Bank ⋆ ZyCrypto
Advertisement     Circle Internet Financial has promised to resume normal USDC liquidity operations from Monday, enabling the redemption of the troubled stablecoin at ...
USDC Regains Footing Following Circle Pledge to Cover Shortfalls
After depegging yesterday, USD Coin (USDC) rallied back to as high as $0.98 following news that its issuer Circle promised to cover any shortfall in its reserves amid the Silicon Valley Bank (SVB) cri...
Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’ – Bitcoin News
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United S...
USDC To Regain $1 Peg As Circle Devises Strategy To Cover Shortfall
In an official statement, USDC issuer Circle stated that it would resume normal operations from Monday and that the stablecoin will be redeemable one-for-one with the U.S. dollar as it plans to utiliz...
Jeremy Allaire Says Circle Will Use Own Resources to Cover Shortfalls As USDC Moves Closer to Peg
Circle CEO Jeremy Allaire is speaking out for the first time following USDC‘s depeg from the dollar, which saw over $6.3 billion disappear from the second-largest stablecoin’s market cap. In a new com...
Stablecoins rally as Circle announces it will cover all USDC deposits 1:1
Quick Take On Saturday, March 11, Circle CEO Jeremy Allaire announced that Circle pledges to cover any shortfall in the assets backing USDC if it does not receive the entirety of a $3.3 billion cash r...
Circle will cover funds shortfall caused by Silicon Valley Bank collapse
Circle stated that it initiated to transfer of $3.3 billion funds remaining in SVB However, the transfer was not processed as of Friday and the could be processed on Monday The stablecoin issuer has c...
Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds
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 a statement on M...
Don’t Panic: ‘Circle Will Stand Behind USDC and Cover Any Shortfall’
Circle has issued a statement regarding USDC and the depegging of the stablecoin following the collapse of Silicon Valley Bank (SVB). If 100% of the $3.3 billion that Circle held at SVB at the end of ...
68% of Americans couldn’t cover their living expenses for even a month if they lost their job, survey finds. The good news? Now is the best time in years to fix that.
The median amount of cash saved by Americans under the age of 35, not including retirement funds, was just $3,240 last year, according to government data. istock Recession — and layoff — fears loom la...
Iron Bank brings out the big gun, holds Alpha Homora’s users’ funds hostage to cover debt
We have seen the crypto industry and staking services go down in recent months. The time has now come for decentralized finance to feel the burn of the community. This came to light after Iron Bank an...
Fox News Host Says Network Won’t Let Him Cover Dominion Lawsuit
Fox News Channel ‘Media Buzz’ host Howard Kurtz (AP Photo/Evan Agostini, File) AP2012 Fox News Channel host Howard Kurtz told viewers his network has forbidden him to discuss the defamatio...
Is the U.S. Economy In Recession? What the Fed—and Everyone Else—Got Wrong.
It was roughly a year ago, after the Russian invasion of Ukraine caused an oil-price shock and the Federal Reserve kicked off its interest-rate-tightening campaign, that forecasters began warning in e...
ZK dark pool startup Renegade breaks cover with $3.4 million from Dragonfly, Naval Ravikant
Published 35 minutes earlier on Renegade, a start up building a new type of decentralized exchange, emerged from stealth with a $3.4 million seed round, led by Dragonfly Capital and former AngelList C...
Senators urge Medicare to cover Alzheimer’s treatments
U.S. senators on Friday called for Medicare to offer broad coverage of Alzheimer’s treatments approved by the Food and Drug Administration, warning that current restrictions cost patients precio...
SEC Chairman Proposes Amending Federal Custody Rules to Cover ‘All Crypto Assets’ – Regulation Bitcoin News
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lendin...
ChatGPT Has Sparked an AI Craze. How to Build a Long-Term AI Portfolio.
Artificial intelligence has sparked new competition in internet search—for the first time in decades. Here’s how to build an AI portfolio. Feb. 10, 2023 6:06 pm ET It has been more than 70 years...
State Farm and Progressive are now refusing to cover certain cars made by big South Korean auto firms — here are the models and why they’re too risky to insure
This is ‘a serious problem’: State Farm and Progressive are now refusing to cover certain cars made by big South Korean auto firms — here are the models and why they’re too risky to ...
Core Scientific offloads 27,000 mining rigs to NYDIG to cover $38M loan
Bankrupt crypto miner Core Scientific would transfer its ownership of 27,403 mining machines to crypto lender NYDIG to pay off a $38.6 million loan, according to a Feb. 2 court filing. Core Scientific...
China’s Big Comeback Is Just Getting Started. How to Play It.
Talk about a comeback. As China abandons policies that stifled economic growth for the past three years, investors have sent the country’s stocks soaring—up more than 50% since October. The rally migh...
DCG scrambling to raise funds to cover Genesis’ $3B debt burden
Embattled crypto lender Genesis owes over $3 billion to its creditors, the Financial Times reported on Jan. 12, citing sources familiar with the matter. The lender owes $900 million to users of Gemini...
Silvergate sold assets at loss and cut staff to cover $8.1B in withdrawals: Report
The FTX debacle has triggered a bank run on Silvergate, causing the company to sell off its assets at a loss and cut staff by 40% to cover $8.1 billion worth of customer withdrawals. According to a re...
Silvergate sold assets at loss to cover withdrawals, laid off 40% of workers
The collapse of FTX sparked a bank run on Silvergate, forcing the financial institution to sell assets at a steep loss to cover some $8.1 billion in withdrawals. The bank has also laid off 40% of its ...
Celsius Network’s Stablecoins Face Liquidation To Cover Bankruptcy Costs
Judge Martin Glenn, the chief United States Bankruptcy Judge in the Southern District of New York, has ruled that ownership of the assets in the Celsius Network’s Earn Accounts belongs to debtors. As ...