headlines

headlines

BTC breaks through 24,000 USDT, with an increase of 18.14% in 24 hours

Odaily’s Ouyi OKX market shows that BTC continues to break through 24,000 USDT, and is now reported at 24,048.2 USDT, an increase of 18.14% in 24 hours.

Odaily News Coinglass data shows that in the past 24 hours, the entire network has liquidated 307 million US dollars, of which Bitcoin liquidated 115 million US dollars and Ethereum liquidated 97.7845 million US dollars.

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Silicon Valley Bank Event Tracker

First Republic Bank suspended, the opening fell 67%, the largest drop on record
Odaily News US stocks opened, the Dow fell about 280 points, the Nasdaq fell 0.85%, and the S&P 500 fell more than 1%. Bank stocks tumbled, First Republic Bank (FRC.N) fell 67%, Alliance Western Bank (WAL.N) fell 75%, PacWest Bancorp (PACW.O) fell 37%, Credit Suisse (CS.N) fell more than 8%.

Among them, First Republic Bank (FRC.N) was suspended, and the opening fell 67%, the largest drop on record. (Golden Ten)

Silicon Valley Bank's new CEO: It's business as usual, and depositors can withdraw their funds in full

Odaily News The new CEO of Silicon Valley Bank said that the company is open and conducting business as usual. Business within the U.S. continues as usual, with cross-border transactions expected to resume in the coming days. Over the weekend, the FDIC transferred all deposits and most of the assets of the former Silicon Valley Bank to the newly formed, full-service FDIC-operated "bridge bank." Depositors can withdraw funds in full, and both new and existing deposits are protected.

HSBC plans £2bn liquidity injection into SVB's UK unit

Odaily News According to Bloomberg News, HSBC Holdings plc plans to inject 2 billion pounds ($2.4 billion) of liquidity into the British subsidiary of Silicon Valley Bank. Chief executive Noel Quinn and HSBC UK head Ian Stuart told London tech investors on a conference call on Monday that the bank would spend billions of pounds to ensure business as usual continued for SVB UK. A spokesman for the bank confirmed the amount.

Fed to review Silicon Valley bank regulation, results to be announced by May 1
Odaily News The U.S. Federal Reserve announced on Monday that Vice Chairman for Supervision Michael S. Barr is leading a review of the supervision of Silicon Valley Bank in light of its collapse. The results of the review will be announced by May 1.

Federal Reserve Chairman Jerome Powell said that "events surrounding Silicon Valley Bank demand a thorough, transparent and expeditious review" by the Fed.

Circle: Automated USDC Minting and Redemption for Customers via Cross River Bank

Odaily News Stablecoin issuer Circle issued a document saying that after the joint statement of the US regulators stated that all depositors of Silicon Valley Bank and Signature Bank will be fully compensated. The $3.3 billion in USDC reserve deposits held by Silicon Valley Bank, or roughly 8% of total USDC reserves, will be fully available when U.S. banks open their doors on Monday morning. No USDC cash reserves are held at Signature Bank. As a regulated payment token, USDC is still convertible 1:1 with the U.S. dollar.

FDIC: SVB customers' checks will be cleared, loans will be disbursed
Additionally, SVB customers' checks will be cleared and loans will be disbursed. (Golden Ten)

Industry news

Industry news

Over 985 Million BUSD Transferred from Binance Industry Recovery Fund to Binance

Over 985 Million BUSD Transferred from Binance Industry Recovery Fund to Binance

Odaily News Whale Alert data shows that 985,088,975 BUSD (worth 981,641,163 US dollars) were transferred from Binance Industry Recovery Fund to Binance.
According to previous reports, CZ tweeted that considering the changes in stablecoins and banks, Binance will convert the remaining "$1 billion industry recovery plan" funds from BUSD to native cryptocurrencies, including BTC, BNB and ETH. Some funds movement will take place on-chain to ensure transparency.

Project News

Project News

Iron Fish Mainnet Launch Delayed to April 20th, KYC Deadline Extended to April 14th

MakerDAO's new proposal: It is recommended to set up a "fuse mechanism" that immediately disables the PSM module in an emergency

Odaily News The MakerDAO community has launched a new proposal, suggesting setting up a "circuit breaker mechanism" that can quickly disable the PSM module in an emergency without waiting for governance delays.
The proposal added that in view of the recent unanchoring of centralized stablecoins caused by bank liquidity problems, it is recommended to set up this emergency processing mechanism to allow the protocol to quickly disable the PSM module (PSM-USDC- A, PSM-PAX-A and PSM-GUSD-A), reducing the related debt ceiling to zero. This mechanism helps Maker limit risk exposure in a faster way, thus greatly improving the risk resistance against centralized stablecoins.

Iron Fish Mainnet Launch Delayed to April 20th, KYC Deadline Extended to April 14th

Odaily News According to the official Twitter, the privacy network Iron Fish announced that due to the discovery of a bug that needs to be fixed, the mainnet launch originally scheduled for March 14 will be postponed to April 20, and users will have more time to complete KYC. Starting today, the redemption portal is open to all participants, the new KYC deadline is April 14th, and all eligible testnet users will receive an airdrop on April 21st.
Vaults using the Idle and Angle strategies have a combined exposure of $1.38 million on yvUSDT and yvUSDC.

Yearn Finance: The indirect loss of US$1.38 million due to the theft of Euler will be fully borne by Treasury funds

Odaily News Yearn Finance tweeted that although there is no direct risk exposure to Euler, some vaults are indirectly exposed to hacker attacks.
Vaults using the Idle and Angle strategies have a combined exposure of $1.38 million on yvUSDT and yvUSDC.
The developers are currently actively working on the affected protocol, any remaining bad debt will be borne by the Yearn Treasury, and all vaults will remain open and fully operational for users as usual.

The developers are currently actively working on the affected protocol, any remaining bad debt will be borne by the Yearn Treasury, and all vaults will remain open and fully operational for users as usual.

Former PayPal Founder Flex Yang Launches Crypto-Native Distributed Stablecoin $HOPE
Odaily News Former PayPal founder Flex Yang tweeted today announcing the creation of a distributed stablecoin $HOPE with native encrypted assets as reserves.

The initial reserve pool of $HOPE will consist of BTC and ETH. The short-term goal of $HOPE is to become a common margin asset for DeFi, CeFi, and TradFi, and the long-term goal is to become a frictionless payment tool that allows everyone to use various financial services transparently and safely.

Aztec responds to "shut down Aztec Connect": mainly for commercial considerations, not related to regulation

Odaily news The relevant person in charge of Aztec Network, a privacy and expansion solution based on ZK-Rollup, responded in the community: "The decision to shut down Aztec Connect is mainly due to commercial considerations, and no regulatory agency has contacted the team. The privacy of Aztec Connect Caused some problems in the design and increased maintenance costs. The company is focusing on the next generation version of the protocol, which will support fully programmable smart contracts with privacy by default. Considering the scale of the new project, we need to focus on all Engineering resources to get it done...we are still focused on L2 Rollup and never built L1, strategy never changed just moving to the next phase."

The proposal to deploy Uniswap V3 to the Kava EVM network has passed the Temperature Check vote
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Investment and Financing

Investment and Financing

DeFiance Capital completed the first close of a $100 million liquidity token fund and will start investing this month
Odaily News Two people familiar with the matter revealed that the encryption investment fund DeFiance Capital has raised "eight-figure" funds, completed the first round of a new $100 million liquidity token fund, and will start investing this month.
According to news in October 2022, four people familiar with the matter revealed that Arthur Cheong, the founder of DeFiance Capital, is raising funds for a new fund. A person familiar with the matter said that the new venture capital fund will still use the name of DeFiance and will mainly focus on the investment of liquid encryption projects, with the goal of raising about 100 million US dollars. DeFiance is focusing its efforts on institutional investors, such as family offices, the person added. (The Block)

Web3 game platform Moxy raises more than 10 million US dollars, Polygon, GSR and others participate in the investment

Odaily News Web3 game platform Moxy announced the completion of over 10 million US dollars in financing, Shima Capital, Polygon, MetaTope and GSR participated in the investment.
Moxy is a Web3 game platform based on the FLOW blockchain. It helps e-sports players and other players to participate in the game and get incentives in a decentralized, secure and stable way. It also allows game developers to seamlessly create games based on game assets. NFT is used to promote the popularization of e-sports. In addition, Moxy also uses a unified digital wallet to participate in the game ecosystem to allow players to store cryptocurrencies and NFT.