{"id":1874502,"date":"2023-03-11T05:57:03","date_gmt":"2023-03-11T10:57:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-firm-circle-reveals-3-3-billion-exposure-to-silicon-valley-bank\/"},"modified":"2023-03-11T05:59:05","modified_gmt":"2023-03-11T10:59:05","slug":"crypto-firm-circle-reveals-3-3-billion-exposure-to-silicon-valley-bank","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/crypto-firm-circle-reveals-3-3-billion-exposure-to-silicon-valley-bank\/","title":{"rendered":"Crypto firm Circle reveals $3.3 billion exposure to Silicon Valley Bank"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcrypto-firm-circle-reveals-3-3-billion-exposure-to-silicon-valley-bank%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1874502&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p> <br \/>\n<?xml encoding=\"utf-8\" ?><\/p>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013     U.S. cryptocurrency firm Circle has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank, the company said in a tweet on Friday.<\/p>\n<p>After startup-focused SVB collapsed Friday, the biggest bank failure since 2008, the announcement by the stablecoin company comes as a shock to investors and companies alike.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>Traders were on alert this week in anticipation of any signs of contagion in financial markets and beyond due to troubles for SVB or crypto-focused Silvergate. This week, Silvergate announced plans to cease operations and voluntarily liquidate.<\/p>\n<p>Circle, based in Boston, said last week that it had made a move. &#8220;small percentage&#8221; USDC Reserve Deposits at Silvergate are transferred to other banks partners.<\/p>\n<p>Circle tweeted on Friday that USDC and Circle continue to operate as normal while it waits for the outcome of SVB&#8217;s receivership. Several crypto companies, however, took to Twitter to deny any exposure regarding SVB&#8217;s collapse.<\/p>\n<p>Binance CEO and chief executive said that they had no exposure in a tweet. Tether CEO Paolo Ardoino was also quoted.<\/p>\n<p>Paxos, a stablecoin issuer, and Gemini, a crypto exchange, tweeted that they have no relationships with SVB.<\/p>\n<\/p>\n<p> (Reporting by Rishabh Jiswal in Bengaluru; Editing By William Mallard<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/crypto-firm-circle-reveals\/attachment\/illustration-shows-svb-silicon-valley-bank-logo-3\/\"><\/a><\/p>\n<\/p><\/div>\n<p><\/p>\n<hr>\n<p>&#8220;From <a href=\"https:\/\/www.oann.com\/business\/crypto-firm-circle-reveals\/?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=crypto-firm-circle-reveals\">Circle, a crypto firm, announces $3.3 billion exposure to Silicon Valley Bank<\/a>&#8221;<\/p>\n<hr>\n<p><span style=\"font-size:11px\"><em>&#8220;The views and opinions expressed here are solely those of the author of the article and not necessarily shared or endorsed by Conservative News Daily&#8221;<\/em><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters) \u2013 U.S. cryptocurrency firm Circle has $3.3 billion of its $40 billion of USD Coin reserves at the collapsed lender Silicon Valley Bank, the company said in a tweet on Friday. After startup-focused SVB collapsed Friday, the biggest bank failure since 2008, the announcement by the stablecoin company comes as a shock to investors &hellip;<\/p>\n","protected":false},"author":1,"featured_media":1889935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[21327,5373,4610,6987,15641,5246,5114,8107,8109],"class_list":["post-1874502","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-3-3","tag-bank","tag-circle","tag-crypto","tag-exposure","tag-firm","tag-reveals","tag-silicon","tag-valley"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1874502","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1874502"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1874502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1889935"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1874502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1874502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1874502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}