Author: Ana Paula Pereira

Custodia Bank’s membership denied for ties with crypto markets, says US Fed

CoinTelegraph

The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank’s application for membership in January, including the bank’s involvement in the crypto space.  According to the report, the Fed’s board has Read More

U.S. authorities preparing ‘material action’ to curb SVB contagion

CoinTelegraph

United States authorities are working on “material action” over the weekend in an attempt to limit the ripple effect across the country’s banking system after the Silicon Valley Bank abruptly collapsed on March 10. According to a Reuters report citing Read More

Silicon Valley Bank failure could trigger run on U.S. regional banks

CoinTelegraph

Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions concerning the future of Silicon Valley Bank may affect regional banks across the United States, putting trillions of dollars at risk of a bank run, said former Bridgewater executive and CEO Read More

Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds

CoinTelegraph

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 March 11.  According to Circle, USDC liquidity operations will “resume as Read More

Binance tried to hire Gary Gensler in 2018 for closer ties with U.S. regulators: Report

CoinTelegraph

Update (March 5, 9:22 p.m. UTC): This article has been updated to include Binance’s response.  Crypto exchange Binance sought to hire Gary Gensler as an advisor before he became chairman of the United States Securities and Exchange Commission (SEC), according Read More

MakerDAO voting on $100M loan participation with Florida commercial bank

CoinTelegraph

Crypto lending platform MakerDAO is voting on a new proposal to bring another commercial bank into its ecosystem, strengthening the connection between decentralized finance (DeFi) and traditional finance.  As per MakerDAO’s governance forum, Cogent Bank — a Florida-based commercial bank — Read More

Coinbase will ‘happily defend’ staking in U.S. courts, says CEO

CoinTelegraph

Crypto exchange Coinbase’s executives are standing up for its crypto staking services, claiming it cannot be classified as a security, and threatening to bring the matter to the courts in the United States. Brian Armstrong, Coinbase CEO, posted on Twitter Read More

Only 4 people controlled Tether Holdings as of 2018: Report

CoinTelegraph

A group of four men controlled 86% of stablecoin issuer Tether Holdings Limited as of 2018, according to documents obtained by The Wall Street Journal in connection with United States authorities investigations. New York Attorney General and Commodity Futures Trading Read More