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Crypto Evening Briefing: Houbi Cut Ties With Signature Bank and Silvergate Before Their Collapse

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Santander, HSBC, Deutsche and Others Still Willing to Serve Crypto Clients After Banking Failures, DCG Says

Crypto conglomerate Digital Currency Group (DCG) is trying to find new banking partners for portfolio companies following the collapse of Silicon Valley Bank (SVB), Signature Bank (SBNY), and Silvergate (SI), according to messages viewed by CoinDesk. Santander (SAN), HSBC (HSBA), Deutsche Bank (DB), BankProv, Bridge Bank, Mercury, Multis and Series Financial are still willing to connect with crypto firms, according to the messages.

Houbi Cut Ties With Signature Bank and Silvergate Before Their Collapse (Report)

Huobi disclosed to Reuters that its customers’ funds remain unaffected by the recent banking crisis in the USA since it has previously transferred all its assets from Silvergate and Signature Bank to other monetary institutions.

Biden Pledges ‘No Cost to the Taxpayer’ To Shield SVB, Signature Depositors

The overnight collapse of two major traditional banks — Silicon Valley Bank (SVB) and Signature Bank — triggered a series of events that impacted millions of businesses, venture capitalists and bottom-line investors alike. However, US President Joe Biden assured that no American taxpayer would feel the burn as the federal government takes action to protect the affected depositors.

FTX-Related Stablecoins on the Move: $145M Transferred to Crypto Exchanges

Amid the multiple ongoing investigations, FTX continues to move funds. The addresses, related to the failed crypto exchange, reportedly transferred around $145 million in stablecoins to a range of operating platforms. As Lookonchain spotted on March 14, three wallets, associated with both FTX and its subsidiary, Alameda Research, have moved 69.64 million USDT and 75.94 million USDC.

China Regulator Says NFT-Related Complaints Skyrocketed in 2022

Amid the hype around non-fungible tokens (NFTs) in 2022, buyers in China flooded the nation’s main regulator with complaints about scams and price manipulation, with official complaints surging 30,000% to 59,700 from 198 in 2021. The report on NFTs comes a day before the World Consumer Rights Day in China.

Market Watch

As of press time, according to Cointime data:

BTC 's live price is $25,993.71 USD, jumped by 15.62% in the last 24 hours;

ETH’s live price is $1,744.28 USD, jumped by 9.24% in the last 24 hours;

BNB’s live price is $315.53 USD, jumped by 4.90% in the last 24 hours;

XRP's live price is $0.3789 USD, jumped by 4.46% in the last 24 hours.

Fundraising News

Crypto Infrastructure Provider Orbs Raising $10 Million From DWF Labs in Token Round

Orbs, a developer of crypto infrastructure, is set to raise up to $10 million from DWF Labs. DWF Labs will purchase Orbs tokens worth up to $10 million, the web3 investment firm said Tuesday. The first tranche of the total investment settled today, Orbs CEO Nadav Shemesh told The Block. He added that the rest of the investment will be "made over time to average price."

Metaverse Payment Platform Tilia Gets New Strategic Investment From J.P Morgan

Tilia wants to make it easy for companies that need financial services in a digital economy world (including the metaverse) to pay and transact with anyone in a regulated way. The company, which has built a payment platform intended for gaming platforms, virtual world publishers, mobile application developers and NFT providers, said Tuesday it has secured another strategic investment from its returning backer, J.P Morgan Payments, and new investor Dunamu, a Seoul-based operator of crypto exchange Upbit.

Bitcoin Bitcoin $81,809.03
-1.78%
HSBC Silicon Valley Bank Signature Bank DWF Labs Huobi FTX Alameda Research China NFT Biden Crypto
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