Embed Notice

HTML Code

<blockquote style="position: relative; padding-left: 55px;"><section><a href="https://indieweb.social/users/web3isgreat/statuses/110001586440564721">web3 is going just great (web3isgreat@indieweb.social)'s status on Sunday, 12-Mar-2023 00:27:43 JST</a><a href="https://indieweb.social/@web3isgreat" title="web3isgreat@indieweb.social"><img src="https://gnusocial.jp/avatar/8878-48-20220905183312.webp" width="48" height="48" alt="web3 is going just great" style="position: absolute; left: 0; top: 0;">web3 is going just great</a></section><article><p>Silicon Valley Bank collapse causes crypto contagion concerns</p><p>March 10, 2023<br><a href="https://web3isgoinggreat.com/?id=silicon-valley-bank-collapse-causes-crypto-contagion-concerns" rel="nofollow noreferrer">https://web3isgoinggreat.com/?id=silicon-valley-bank-collapse-causes-crypto-contagion-concerns</a></p></article><footer><a rel="bookmark" href="https://gnusocial.jp/conversation/1308886#notice-2728594">In conversation</a><time datetime="2023-03-12T00:27:43+09:00" title="Sunday, 12-Mar-2023 00:27:43 JST">Sunday, 12-Mar-2023 00:27:43 JST</time> <span>from <span><a href="https://indieweb.social/@web3isgreat/110001586440564721" rel="external" title="Sent from indieweb.social via ActivityPub">indieweb.social</a></span></span><a href="https://indieweb.social/@web3isgreat/110001586440564721">permalink</a><h4>Attachments</h4><ol><li><label><a rel="external" href="https://gnusocial.jp/attachment/796298">Silicon Valley Bank collapse causes crypto contagion concerns  Although it doesn't seem that it was exposure to the crypto industry that did in Silicon Valley Bank (unlike with fellow failed bank Silvergate), the crypto industry has been showing signs of concern that SVB's collapse may impact crypto businesses. In particular, there are fears around the fact that Circle, the company that backs the major USDC stablecoin, kept some of its cash reserves with SVB. As of Circle's January attestation, an undisclosed portion of Circle's $9.88 billion in cash reserves backing USDC were kept with Silicon Valley Bank. It's not clear if any of those reserves were withdrawn prior to SVB's collapse, or what portion of those reserves were with SVB to begin with. SVB was also the preferred bank for various giants in the crypto VC world, including Andreessen Horowitz and Sequoia Capital. Pantera Capital also used SVB as a custodian.</a></label><br><a href="https://cdn.masto.host/indiewebsocial/media_attachments/files/110/001/584/542/981/453/original/d7274f19c7644f35.png" rel="external">https://cdn.masto.host/indiewebsocial/media_attachments/files/110/001/584/542/981/453/original/d7274f19c7644f35.png</a></li><li><article><header><div>Domain not in remote thumbnail source whitelist: storage.googleapis.com</div><h5><a href="https://web3isgoinggreat.com/?id=silicon-valley-bank-collapse-causes-crypto-contagion-concerns">Silicon Valley Bank collapse causes crypto contagion concerns</a></h5><div> from <span>@molly0xfff</span></div></header><div>Although it doesn't seem that it was exposure to the crypto industry that did in Silicon Valley Bank (unlike with fellow failed bank Silvergate), the crypto industry has been showing signs of concern that SVB's collapse may impact crypto businesses. In particular, there are fears around the fact that Circle, the company that backs the major USDC stablecoin, kept some of its cash reserves with SVB. Circle disclosed that around $3.3 billion, or around one-third of USDC's $9.88 billion in cash reserves  backing USDC, was kept with Silicon Valley Bank.SVB was also the preferred bank for various giants in the crypto VC world, including Andreessen Horowitz and Sequoia Capital. Pantera Capital also used SVB as a custodian.</div><footer></footer></article></li></ol></footer></blockquote>

Corresponding Notice

Embed this notice
web3 is going just great (web3isgreat@indieweb.social)'s status on Sunday, 12-Mar-2023 00:27:43 JST web3 is going just great
Silicon Valley Bank collapse causes crypto contagion concerns
March 10, 2023
https://web3isgoinggreat.com/?id=silicon-valley-bank-collapse-causes-crypto-contagion-concerns
In conversationSunday, 12-Mar-2023 00:27:43 JST from indieweb.socialpermalink
Attachments
1. Silicon Valley Bank collapse causes crypto contagion concerns Although it doesn't seem that it was exposure to the crypto industry that did in Silicon Valley Bank (unlike with fellow failed bank Silvergate), the crypto industry has been showing signs of concern that SVB's collapse may impact crypto businesses. In particular, there are fears around the fact that Circle, the company that backs the major USDC stablecoin, kept some of its cash reserves with SVB. As of Circle's January attestation, an undisclosed portion of Circle's $9.88 billion in cash reserves backing USDC were kept with Silicon Valley Bank. It's not clear if any of those reserves were withdrawn prior to SVB's collapse, or what portion of those reserves were with SVB to begin with. SVB was also the preferred bank for various giants in the crypto VC world, including Andreessen Horowitz and Sequoia Capital. Pantera Capital also used SVB as a custodian.
  https://cdn.masto.host/indiewebsocial/media_attachments/files/110/001/584/542/981/453/original/d7274f19c7644f35.png
2. Domain not in remote thumbnail source whitelist: storage.googleapis.com
  Silicon Valley Bank collapse causes crypto contagion concerns
  from @molly0xfff
  Although it doesn't seem that it was exposure to the crypto industry that did in Silicon Valley Bank (unlike with fellow failed bank Silvergate), the crypto industry has been showing signs of concern that SVB's collapse may impact crypto businesses. In particular, there are fears around the fact that Circle, the company that backs the major USDC stablecoin, kept some of its cash reserves with SVB. Circle disclosed that around $3.3 billion, or around one-third of USDC's $9.88 billion in cash reserves backing USDC, was kept with Silicon Valley Bank.SVB was also the preferred bank for various giants in the crypto VC world, including Andreessen Horowitz and Sequoia Capital. Pantera Capital also used SVB as a custodian.

Public

Embed Notice

HTML Code

Corresponding Notice