The cryptocurrency firm Circle says that $3.3 billion of its $40 billion USD Coin reserves are held by Silicon Valley Bank, a lender that was shutdown on Friday.
Silicon Valley Bank collapse putting ‘world’s innovation of technology’ on hold: Tech CEO Ashley Tyrner
Tech CEO Ashley Tyrner, who has $10 million in the Silicon Valley Bank, discusses the collapse and what it means for startups on ‘The Big Money Show.' Exposure in the collapse of lender Silicon Valley Bank is starting to be reported in the financial industry. has $3.3 billion of its $40 billion USD Coin reserves at the lender shutdown by regulators on Friday.The collapse is the largest bank failure since the 2008 financial crisis and has stranded billions of dollars belonging to companies and investors.
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Silicon Valley Bank spooks Silicon ValleySilicon Valley Bank, long one of the most popular financial institutions among tech and life sciences startups, saw its shares fall more than 60% on Thursday, wiping out a whopping $9.4 billion in market value.
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Column: The Silicon Valley Bank collapse is Silicon Valley's problem, not yours'Based on the information that has been made public, the bank unwisely put its eggs in one basket by taking deposits from an insular group of depositors: venture-funded startups.' Column by hiltzikm:
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USDC Issuer Circle Says it 'Awaits Clarity' From FDIC on Silicon Valley Bank CollapseCircle declined to specify how much of the cash backing USDC is stuck at Silicon Valley Bank in its first statement since the tech lender's collapse. realDannyNelson reports
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Circle discloses $3.3B tied up at Silicon Valley BankCircle confirmed that $3.3 billion of its $40 billion of USDC reserves remain at Silicon Valley Bank, following news of its shutdown by California's financial watchdog.
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