FinTech news in SVB category

All in all, the market madness has seemingly created a bullish sentiment in the crypto economy; as traders responded positively to the news, the overall market cap rose on the week and crypto app downloads increased.

African startups impacted by SVB collapse It is not yet clear how many African startups and VCs were affected by SVB’s collapse.

YC refused to admit that today’s layoffs and departure from growth stage is related to the banking crisis, it’s hard not to see the news amid the backdrop of a tech reckoning

Brex CEO Henrique Dubugras is currently working to raise over a billion dollars in a weekend to help fund an emergency bridge credit line that he believes will help startup customers impacted by Silicon Valley Bank collapse be able to make payroll next week.

According to Circle’s January attestation report, the firm had about $9.88 billion in cash deposited at regulated banks to back its stablecoin’s value, among other assets. If Circle did have more than a smattering of cash at SVB, concerns could mount that the backing of USDC may no longer be complete and instead be more fractional than is needed for a stablecoin to remain steady.

As a threat of a bank run looms at Silicon Valley Bank, days after Silvergate’s meltdown FDIC takes over SVB