Silvergate Bank

Crypto Bank Silvergate Shutdown: 3 Key Takeaways

The crypto meltdown has claimed its first big casualty in the mainstream financial system. California-based Silvergate Bank plans to "voluntarily liquidate" its assets and win...

By CoinDesk Staff

Mar 13, 2023 at 1:00 p.m. UTC

Mar 13, 2023

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Finance

Signature bank

OKX-Affiliated Okcoin Pauses USD On-Ramp Due to Signature Bank’s Collapse

CEO Hong Fang tweeted that customer deposits are safe and USD withdrawals aren't affected.

By Sam Reynolds

Mar 13, 2023 at 9:28 a.m. UTC

Mar 13, 2023

Signature BankSilvergate BankOKXOkbOKCoin

Technology

Silvergate

How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout

A deep dive into regulatory filings shows how Silvergate Bank's collapse was, in a strange way, the ideal scenario for a failing institution. Sure, shareholders got wiped out,...

By Bradley Keoun Helene Braun

Mar 10, 2023 at 10:08 p.m. UTC

Mar 10, 2023

SilvergateSilvergate BankSilicon Valley BankFDICbanking

Why Silicon Valley Bank's Collapse Matters for the Crypto Industry

Video

Cdtv

Why Silicon Valley Bank's Collapse Matters for the Crypto Industry

Silicon Valley Bank (SVB) was shuttered by the California Department of Financial Protection and Innovation on Friday, marking the second bank to shut down within days after S...

By CoinDesk Inc

Mar 10, 2023 at 8:45 p.m. UTC

Mar 10, 2023

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Finance

Silicon valley bank

Crypto Wallets Withdraw $902M USDC From Centralized Exchanges in Past 24 Hours Amid SVB, Silvergate Shutdowns

$11.4 billion of USDC reserves are held in the form of cash at Reserve Banks, which include the two members of the Federal Reserve System.

By Sage D. Young

Mar 10, 2023 at 7:50 p.m. UTC

Mar 10, 2023

Silicon Valley BankSilvergate BankCircleUSDCOn-chain Data

Markets

Stablecoin

Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank

Circle’s USDC, the second-largest stablecoin, with $43 billion market capitalization, held an undisclosed part of its $9.8 billion cash reserves at failed Silicon Valley Bank.

By Krisztian Sandor

Mar 10, 2023 at 7:35 p.m. UTC

Mar 10, 2023

StablecoinCircleUSDCReservesMarketsTradingInvestingSilvergate BankSilicon Valley BankSignature Bank

Consensus Magazine

Opinion

A Tale of 2 Banks: Why Silvergate and Silicon Valley Bank Collapsed

Every U.S. bank is facing similar structural pressures to what drove crypto’s one-time favorite bank to the moon and then into the ground.

By David Z. Morris

Mar 10, 2023 at 5:40 p.m. UTC

Mar 10, 2023

OpinionSilvergateSilvergate BankFederal ReserveThe NodeNewsletters

Silicon Valley Bank Closed by State Regulators

Video

Pantera

Silicon Valley Bank Closed by State Regulators

Silicon Valley Bank was shuttered by the California Department of Financial Protection and Innovation on Friday, marking the second bank to shut down within days. The bank’s c...

By CoinDesk Inc

Mar 10, 2023 at 5:20 p.m. UTC

Mar 10, 2023