Euler DeFi Protocol Exploited for Nearly $185M
The losses occurred over four transactions in dai (DAI), wrapped bitcoin (WBTC), staked ether (sETH) and USDC.
Finance
OKX-Affiliated OKCoin Pauses USD On-Ramp Due to Signature Bank’s Collapse
OkCoin CEO Hong Fang tweeted that customer deposits are safe and USD withdrawals are not affected.
Smart Money Staying Put as USDC Remains Off-Peg
Data from Nansen shows that the total amount held by smart money wallets, and active addresses, are at multi-month lows.
Circle to ‘Cover Any Shortfall’ in USDC Reserves, Sparking Stablecoin Rally
The company plans to use corporate resources to fill the gap, including external capital.
Coinbase Pauses Conversions Between USDC and U.S. Dollars as Banking Crisis Roils Crypto
Circle’s USDC stablecoin was hit by the shutdown of Silicon Valley Bank, one of its key banking partners.
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.
USDC Issuer Circle Says it ‘Awaits Clarity’ From FDIC on Silicon Valley Bank Collapse
In its first statement following the collapse of Silicon Valley Bank, Circle declined to state how much cash it has tied up at the bank.
Crypto VC Firm Pantera Used Silicon Valley Bank as a Custodian
A regulatory filing shows the shuttered bank as one of three custodians for Pantera’s funds.
DeFi Protocol Curve’s $500M Stablecoin Pool Hammered as Traders Flee USDC
Curve’s 3pool is supposed to have equal parts USDC, DAI and USDT. The trio are becoming imbalanced amid fallout from Silicon Valley Bank’s collapse.
FTX Reaches $45M Deal to Sell Interest in Sequoia to Abu Dhabi’s Investment Arm
The agreement requires approval from a Delaware bankruptcy court as failed exchange seeks to raise funds for creditors.