Weekly Report (06 – 12 March 23) | What Happened This Week In Crypto

This Report will provide you with some essential and quick news about cryptocurrencies that happened around the world.

1) The USDC Falls To A Record Low As Investors Withdraw Funds From The Stablecoin

USDC has been smashed with a damaging wave after news of the bankruptcy of Silicon Valley Bank on March 11. The stablecoin issuer Circle said it deposited $3.3 billion with the collapsed bank, leading to USDC uncertainty…[continue reading]

2) Failure Of Silicon Valley Bank Might Spark A Run On U.S. Regional Banks

Former Bridgewater executive and current CEO of investment firm Unlimited, Bob Elliot, stated that Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions regarding the future of Silicon Valley Bank could impact regional banks across the United States, putting trillions of dollars at risk of a bank run…[continue reading]

3) Brave Browser Now Allows Users To Trade Crypto Inside Wallet

The privacy-focused web browser Brave recently announced the launch of a new feature that enables users to trade cryptocurrencies for fiat cash, including U.S. dollars, euros, and the British pound, without leaving the Brave Wallet…[continue reading]

4) Crypto-Friendly Financial Institution Silvergate Is Closed

Yesterday, Silvergate Bank stated that it would cease operations in an orderly way. Silvergate Capital Corporation, the holding company for Silvergate Bank, declared its intention to cease all operations yesterday…[continue reading]

5) SWIFT To Perform More CBDC Project Testing

The project, which included banks such as France’s BNP Paribas, Italy’s Intesa Sanpaolo, and the United Kingdom’s Standard Chartered (STAN), along with the central banks in France and Singapore, will now enter a second phase of testing to evaluate applications such as trade finance and securities settlement…[continue reading]