Regulators are working tirelessly to mitigate the fallout from the recent collapse of SVB, the largest U.S. bank to fail in over a decade. The bank, trendy among tech companies and start-ups, closed its doors on Friday following a bank…
In a significant move to enhance security for the Cosmos ecosystem, the Cosmos community has approved the addition of “replicated security (RS)” to its chain. The motion received an overwhelming 99.99% of votes in favour of the proposal. The long-awaited…
USDC issuer, Circle, has issued a statement updating investors on its cash reserves, which are currently stuck with Silicon Valley Bank (SVB). This follows the recent collapse of SVB, which has left the fate of USDC’s funds in question. Here…
In response to the recent price volatility on stablecoins, Aave has announced the freezing of stablecoins trading and set the Loan-to-Value (LTV) ratio to zero. This move follows an analysis from DeFi’s risk manager company Gauntlet, which recommended that all…
Relief efforts are underway less than 72 hours after the collapse of prominent American tech bank Silicon Valley Bank (SVB), according to a post on Mar. 11 by Bob Elliot, a chief investment officer of Unlimited Funds. The collapse has affected prominent…
Stablecoin swapping pool Curve Finance has hit its highest daily trading volume in history, with over $7 billion in the past 24 hours. The recent collapse of Silicon Valley Bank (SVB) triggered a wave of uncertainty across markets, depegging the USD Coin…
Decentralized finance (DeFi) lending protocol Aave has begun the first phase of its asset recovery process to rescue lost tokens. The decision was made after a unanimous vote by the DAO in favor of the move. First Phase Targets Tokens…
The recent events surrounding the crypto market have caused turmoil, with liquidations surpassing $300 million. The news of Silvergate shutting down and the lawsuit against KuCoin has had a cascading effect on the market, causing the most affected tokens to…
Hedera, the team behind the distributed ledger Hedera Hashgraph, has confirmed a smart contract exploit on the Hedera Mainnet that has led to the theft of several liquidity pool tokens. This is the first reported network exploit on Hedera since…
Grayscale’s premier fund, the Grayscale Bitcoin Trust, experienced a surge in trading as its discount to net asset value narrowed to 35.7%. The discount has been in place since early 2021, but shares in the fund rose by 4% on…
