Silicon Valley Bank's crash has greatly affected NFT trading volumes, as traders have left the markets due to the potential consequences of a prominent US bank's situation.
Signature Bank has become the latest casualty of the current US banking crisis, having been closed down by regulators on Sunday to prevent a risk of instability spreading to the wider financial system.
After the failure of three U.S. banks (with varying degrees of crypto exposure) in the space of a week last month, the sector seems to have settled back into relative calm, at least for the time being. So it would seem like the perfect opportunity for a recap.
After the failure of three U.S. banks (with varying degrees of crypto exposure) in the space of a week last month, the sector seems to have settled back into relative calm, at least for the time being. So it would seem like the perfect opportunity for a recap.
Silicon Valley Bank's crash has greatly affected NFT trading volumes, as traders have left the markets due to the potential consequences of a prominent US bank's situation.
Signature Bank has become the latest casualty of the current US banking crisis, having been closed down by regulators on Sunday to prevent a risk of instability spreading to the wider financial system.
Circle’s USDC stablecoin slipped from its dollar peg due to the collapse of tech start-up friendly Silicon Valley Bank, and not that of the far more crypto-entwined Silvergate Bank, which also announced that it was entering liquidation this week.
Following our report on the beleaguered US crypto banking sector, former banking partner of choice for many major crypto exchanges, Silvergate Bank, has announced that it will enter voluntary liquidation and wind down operations.
