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After Credit Suisse Group AG announced it would borrow 50 billion Swiss francs from the Swiss National Bank, UBS Group AG is reportedly considering acquiring the banking giant. However, UBS is requesting that the government issue a backstop to protect against any losses if it purchases Credit Suisse. According to
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Hot on the heels of several United States bank collapses, the Federal Reserve Board has announced $25 billion worth of funding aimed at backstopping banks and other depository firms.The funds would ensure that eligible banks would have enough liquidity to cover the needs of their customers during times of turmoil.@federalreserve
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Developers of the fast-growing stablecoin UST say the coin's $1 value peg isn't "backed" by anything – just a blockchain-based algorithm. So why does it need a multibillion-dollar bitcoin reserve, in case of an emergency? How would that work? Original Source
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The latest moves in crypto markets in context for April 11, 2022. Source
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Lending project B.Protocol, which builds tools to “democratize” DeFi liquidations, raised $2.2 million.B.Protocol is one of the many money legos propping up the patchwork landscape of decentralized finance. Catering specifically to lenders in need of liquidating sour loans, it had roughly $87 million in total value locked as of press
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