Circle Confirms $3.3B of USDC's Cash Reserves Stuck at Failed Silicon Valley Bank
Silicon Valley Bank, one of the reserve banking partner for Circle's USDC stablecoin, was shut down by regulators on Friday. Source
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Cash
Scrutiny Falls on $43B USDC Stablecoin’s Cash Reserves at Failed Silicon Valley Bank
The full list of banks that held cash for Circle’s USDC are Bank of New York Mellon, Citizens Trust Bank, Customers Bank, New York Community Bank (a division of Flagstar Bank, N.A.), Signature Bank, Silicon Valley Bank and Silvergate Bank. Circle also keeps some part of USDC reserves in a
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Alameda Research to Sell Sequoia Interest to Abu Dhabi Sovereign Wealth Fund for $45M in Cash
FTX’s sister trading firm Alameda has agreed to sell its interest in Sequoia Capital to a UAE-based entity. Alameda Research appears set to sell its interest in Sequoia Capital to Abu Dhabi for $45 million. According to a recent report, the FTX sister trading firm agreed to sell the Sequoia stake to the Abu
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Tornado Cash dev says ‘sequel’ to crypto mixer aims to be regulator-friendly
A former Tornado Cash developer claims to be building a new crypto mixing service that aims to solve a “critical flaw” of the sanctioned crypto mixer — which he hopes will convince U.S. regulators to reconsider its position on privacy mixers.The code of a new Ethereum-based mixer, “Privacy Pools,” was
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Tornado Cash Fork, Privacy Pools, Deployed on Optimism Testnet
With Privacy Pools, users deposit their funds into a common pool and withdraw their funds into a new wallet address that is untraceable and unlinkable to any prior transaction history, using zero-knowledge proofs that allow for information to be verified, such as a transaction on a blockchain, without leaking specific
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Nigeria Picks Bola Tinubu as New President Amid Protests Over Cash Shortages, Low eNaira Adoption
The Central Bank of Nigeria, under Buhari’s administration, issued a digital naira in October 2021 to encourage electronic payments and rival the adoption of private cryptocurrencies in the country. Nigeria’s tech-savvy, young population made the nation one of the fastest crypto adopters in the world, despite attempts by the government
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Bitcoin-friendly Cash App integrates TaxBit amid tax-filing season
Mobile payments processor Cash App has integrated crypto tax and accounting software TaxBit into its services, giving Bitcoin (BTC) holders a more streamlined approach to reporting their taxes. As of Feb. 28, Cash App users can now keep track of their Bitcoin transactions for tax reporting purposes using TaxBit, both companies
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Lendhub protocol exploiters spotted shifting $3.85M into Tornado Cash
The suspected actors behind the $6 million exploit of decentralized finance lending protocol Lendhub have just sent more than half of their ill-gotten gains from January into sanctioned crypto mixer Tornado Cash.Blockchain security firms PeckShield and Beosin alerted their respective followers to the movement of funds on Feb. 27, noting
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Block Inc’s Cash App Records Bitcoin Impairment in Q4 2022
Like many other companies, Block invested in Bitcoin when the digital asset price was skyrocketing. Multinational technology conglomerate Block (NYSE: SQ) said the Bitcoin gross profit from its Cash App declined by 25% to $35 million in Q4 2022. According to the report, the total Bitcoin sold, which the company refers to
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Why Nigerians Aren't Turning to the eNaira Despite Crippling Cash Shortages
A lack of infrastructure, merchants and interest may all be contributing factors to Nigeria’s low eNaira pickup – despite its recent cash issues. Source
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