South Korea launches Metaverse fund to advance domestic ideas
South Korea will promote various companies from the metaverse ecosystem’s mergers and acquisitions with the aid of the Metaverse Fund. South Korea increased its focus on the metaverse’s potential as a new source of economic growth as other nations’ economy became sidetracked by the hullabaloo surrounding cryptocurrency’s price volatility and ecosystem breakdowns. The Ministry of […]
Aave suspends stablecoin trading on v3 Avalanche
In response to recent stablecoin price volatility, Aave has stopped trading stablecoins and set the loan-to-value (LTV) ratio to 0. The trading halt, according to Aave’s governance forum, follows a report from decentralized financial risk management firm Gauntlet Network that suggests all v2 and v3 markets should be momentarily halted. One forum user made the […]
Circle intends to cover missing liquidity in SVB with corporate funds
Following Silicon Valley Bank’s (SVB) closure, Circle intends to use “company resources” to make up the difference in its reserves. As stated by Circle, USDC liquidity operations would “continue as normal” on Monday morning when banks reopen in the United States, allowing for 1:1 USDC redemption. The statement followed the stablecoin’s loss of its $1 […]
Curve Finance Trading Volume Achieves $7B Historical High
Following the USDC depeg, the DeFi protocol on Curve Finance saw daily trade volume reach records as crypto whales competed for assets. Since the Silicon Valley Bank (SVB) collapse sent a wave of fear through the markets and caused USD Coin (USDC $0.96) to depeg from the US dollar, Curve Finance has seen its greatest […]
UK rushes to minimize damage from Silicon Valley Bank collapse
In the UK, a crisis plan is being implemented to save startups and tech firms impacted by the bankruptcy of Silicon Valley Bank. According to several sources on March 12, a strategy to save startups and tech firms impacted by the collapse of Silicon Valley Bank is in the works in the UK. A monetary […]