🟢 Silicon Valley Bank collapse: Everything that’s happened until now

Events surrounding Silicon Valley Bank are moving fast. Here is a breakdown of the major developments over the last week.

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🟢 Binance CEO announces recovery funds conversion from BUSD to ‘native crypto

Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to native cryptocurrencies such as Bitcoin.

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🟢Bitcoin market cap flips tech giant Meta, widens gap on Visa [dets]

🟢More than 280 blockchains at risk of ‘zero-day’ exploits, warns security firm [dets]

🟢⁠Meta pulling the plug on NFTs across Instagram and Facebook [dets]

🟢Biden pledges ‘no cost to the taxpayer’ to shield SVB, Signature depositors [dets]

🟢Binance to Suspend British Pound Deposits, Withdrawals [dets]

🟢Biden reassures Americans that banking system is safe in wake of collapses [dets]

🟢Euler attack causes locked tokens, losses in 11 DeFi protocols, including Balancer [dets]
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🟢 Debtors saved over $100M using de-pegged stablecoins to repay loans

Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar.

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🟢 Polygon Labs partners with Unstoppable Domains to launch top-level domains

Polygon ecosystem users will be able to create .polygon Web3 domains through a new partnership with Unstoppable Domains.

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🟢 Enterprise software giant Salesforce partners with Polygon for NFT-based loyalty programs

Salesforce, one of world’s largest customer relationship management software firms, has partnered Polygon Labs to help its clients develop non-fungible token (NFT) based loyalty programs on the Polygon blockchain

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🟢 Binance replaces BUSD in SAFU fund with TUSD and USDT

Binance assured users that the change would not impact them in any way and that their funds would continue to be held in publicly verifiable addresses.

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🟢 More than 186 US banks well-positioned for collapse, SVB analysis reveals

Rising interest rates, which brought down the U.S. banking system’s asset market value by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threaten banks’ stability.

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🟢 Microsoft reportedly testing Edge browser Web3 wallet integration

The supposed screenshots show a noncustodial crypto and NFT-friendly Microsoft Web3 wallet embedded into Edge.

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🟢 Real-world assets tokenization lacks infrastructure, not just regulation

Assets tokenization has been held back by lack of infrastructure and regulatory standards worldwide.

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