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Read our final Davos Dispatch from a week's worth of programming. #WEF23 https://t.co/US21m8cDlK
@circle is currently protecting #USDC from a black swan failure in the U.S. banking system. @SVB_Financial is a critical bank in the U.S. economy and its failure - without a Federal rescue plan - will have broader implications for business, banking and entrepreneurs.
1/ Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.
2/ Like other customers and depositors who relied on SVB for banking services, Circle joins calls for continuity of this important bank in the U.S. economy and will follow guidance provided by state and Federal regulators.
Silicon Valley Bank is one of six banking partners Circle uses for managing the ~25% portion of USDC reserves held in cash. While we await clarity on how the FDIC receivership of SVB will impact its depositors, Circle & USDC continue to operate normally.
https://t.co/NU82jnajjY
ICYMI: @jerallaire & Jean-Noël Barrot, French Minister for Digital Transition & Telecomms, discuss the effort to create a single digital market across the EU & the importance of ensuring blockchain technology serves the cause of financial inclusion. https://t.co/xJiQR3h4Dt
Been a very peaceful few days with my boy and brother @nannerbeats . Both facing tougher times at the moment and it’s beautiful that we can feel grounded through surfing. Cheers to having peace brotha🍻
📸 jackcdps @… https://t.co/6D04LHB0ep
Join us as we @wearethewrecks stream live from the Shag Chateau! Gunna be a groovy one!!!!!!!💃🏽🕺🏻💃🏼🕺🏿💃🕺 @ Los Angeles, California https://t.co/E1kmSXAgmQ