Business
Major crypto exchange Coinbase said it expects to recover the entirety of its $240 million cash balance at Signature.
U.S. regulators have shut down Signature Bank, saying that all depositors will have full access to their deposits.
Bitcoin
BitMEX’s Arthur Hayes introduced the idea of a stablecoin backed by Bitcoin and derivatives in light of “the recent banking tremors reverberating through the crypto space.”
DeFi
DeFi lending protocol Aave will increase the cost of borrowing BUSD to incentivize users to switch to other stablecoins.
Maker’s Rune Christensen called for a new name, a new look and a different approach to user acquisition for DAI.
Ethereum
NYAG Letitia James argued that ETH is a security because of its transition to Proof-of-Stake and the fact that its developers promoted it as an investment.
The Mt. Gox investment fund has opted to keep its Bitcoin reimbursement from the bankrupt Japanese crypto exchange.
Lido Finance could terminate liquid staking of DOT and KSM, which collectively account for $25 million in staked value on its platform.
Celsius and its creditor committee have already met with another buyer on an alternate proposal to NovaWulf’s deal, which is still on the table.
Silvergate Bank is closing down in a voluntary liquidation process which will fully repay all client deposits.
