The recent failures of Signature, Silicon Valley Bank (SVB), and Silvergate have sent shockwaves throughout the crypto sector. These banks were known for being...

The recent failures of Signature, Silicon Valley Bank (SVB), and Silvergate have sent shockwaves throughout the crypto sector. These banks were known for being friendly towards crypto companies and were key players in providing banking services to the industry. However, their collapses have left the crypto sector vulnerable and exposed. The federal government's decision to backstop deposits in Signature and SVB has given some confidence to the market, resulting in a small rally in cryptocurrency prices. However, the instability in the stablecoin market has caused concern. Stablecoins, which are supposed to maintain a set price, can drop below their pegged value during unusual financial conditions. The collapse of TerraUSD in May 2022 was the start of...

The recent failures of Signature, Silicon Valley Bank (SVB), and Silvergate have sent shockwaves throughout the crypto sector. These banks were known for being friendly towards crypto companies and were key players in providing banking services to the industry. However, their collapses have left the crypto sector vulnerable and exposed. The federal government's decision to backstop deposits in Signature and SVB has given some confidence to the market, resulting in a small rally in cryptocurrency prices. However, the instability in the stablecoin market has caused concern. Stablecoins, which are supposed to maintain a set price, can drop below their pegged value during unusual financial conditions. The collapse of TerraUSD in May 2022 was the start of...