Forex Trading Review
  • LyoPay
  • VXL Dollar
  • Hyperfund
  • Darren Yaw
What's Hot

Coinbase vs. Simplecoin: A Compressive Guide

March 25, 2023

BERKSHIRE HATHAWAY Review 2023: How to Buy Berkshire Hathaway Shares, Price Development, Price Chart, Buy

March 25, 2023

White House report takes aim at Bybit — and forgot about Deribit

March 25, 2023
Facebook Twitter Instagram
  • LyoPay
  • VXL Dollar
  • Hyperfund
  • Darren Yaw
Facebook Twitter Instagram
Forex Trading Review
  • Crypto

    South Korean authorities nab former Coinone staff over bribery allegation

    March 25, 2023

    Bitstamp makes its way to Asia-Pacific through white-label offering

    March 25, 2023

    Sony’s new patent indicates surging NFT interest for PS5

    March 25, 2023

    Why are blockchain, Web3 still male-dominated industries?

    March 25, 2023

    France wants to ban digital asset influencers

    March 25, 2023
  • Forex

    VXL Dollar – Bijan Burnard – Scam Warning 2023

    January 22, 2023

    Golden Brokers Ltd: Why You Must Avoid This Shady Broker

    January 20, 2023

    Alpho Review: A Suspicious Broker You Should Avoid

    December 29, 2022

    Gulf Brokers DMCC: Shady and Suspicious

    December 19, 2022
  • Alerts

    ClearPath Lending – Veteran Scam – 2023

    January 30, 2023

    Golden Brokers Ltd: Why You Must Avoid This Shady Broker

    January 20, 2023

    Lear Capital – Shady Firm Scamming Investors & Facing Multiple Lawsuits

    January 20, 2023

    Is Birch Gold Group a Scam? Let’s find out.

    January 18, 2023

    Stanislav Kondrashov – Financier of Wagner ’s Army

    December 27, 2022
  • News

    White House report takes aim at Bybit — and forgot about Deribit

    March 25, 2023

    ‘US has left a vacuum that other countries are eager to fill’: Coinbase

    March 25, 2023

    Animoca denies reports of $200M cut to metaverse fund and valuation drop to $2B

    March 25, 2023

    NFT investor accidentally burns $135K CryptoPunk trying to borrow money

    March 25, 2023

    Sony eyes NFT transfers across multiple game platforms, reveals patent

    March 25, 2023
  • Scams

    DaVinci Biosciences and DV Biologics – Human Organ Traffickers

    February 19, 2023

    Vito Glazers – Perjury and Fraud – Investigation 2023

    February 18, 2023

    VXL Dollar – Bijan Burnard – Scam Warning 2023

    January 22, 2023

    GulfBrokers – GulfBrokers.com – Review 2023

    January 20, 2023

    Ravi Melwani – Sexual Harassment Charges, Rape Accusations – 2023 Investigation

    January 13, 2023
  • Reviews
    1. Darren Yaw
    2. Hyperfund
    3. LyoPay
    4. VXL Dollar
    5. View All

    Coinbase vs. Simplecoin: A Compressive Guide

    March 25, 2023

    BERKSHIRE HATHAWAY Review 2023: How to Buy Berkshire Hathaway Shares, Price Development, Price Chart, Buy

    March 25, 2023

    Evaluation of ALPS Markets 2023 covering topics such as broker experience, costs, discussions, and the possibility of fraud

    March 25, 2023

    BitSeven platform experience, features, prices, and general conversation are covered in this 2023 review

    March 25, 2023
Report Scam
Forex Trading Review
Home»News and Views»Failed tech bank SVB held over $5B for prominent crypto VCs: Report
News and Views

Failed tech bank SVB held over $5B for prominent crypto VCs: Report

March 11, 2023Updated:March 12, 2023No Comments
Share
Facebook Twitter LinkedIn Pinterest Email

 

 

According to a report that began circulating on March 11 in the aftermath of the collapse of Silicon Valley Bank (SVB), prominent blockchain venture capitalists (VCs) have over $6 billion worth of assets held by the now-defunct financial entity. These include $2.85 billion from Andreessen Horowitz (a16z), $1.72 billion from Paradigm and $560 million from Pantera Capital.

A16z currently holds active investments in projects such as Alchemy, Sky Mavis and Yuga Labs, and was previously an investor in cryptocurrency exchange Coinbase. Paradigm has invested in projects such as Compound, Cosmos and Uniswap. Meanwhile, Pantera Capital holds stakes in projects such as 1inch, Ankr and Zcash.

The report, compiled by Castle Hall due diligence and extracted from United States Securities and Exchange Commission filings, is a point-time disclosure of the VCs’ assets held in custody by SVB. It does not include updates such as recent withdrawals, deposits or transfers after the time of disclosure. In addition, while the said firms are prominent investors in the crypto space, not all its assets held by SVB are used in crypto investments.

List of prominent crypto stakeholders and VCs’ reactions to the USDC depegging event | Source: Lookonchain, Crypto_HD

SVB, a significant financial lender servicing venture capital firms and tech companies, was shut down by California regulators on March 10. At the time, it was the 16th largest bank in the U.S., with over $212 billion in assets. The cause of the collapse was, apparently, a failed leveraged bet on U.S. treasury bonds that led to $1.8 billion in losses on its $21 billion portfolio after the U.S. Federal Reserve repeatedly raised interest rates this past year — sharply driving down the prices of bonds. 

Despite the relatively small loss, a crisis of confidence ensued, leading to tens of billions of dollars of redemption demands in a couple of days. The company reportedly has $74 billion left of longer-term U.S. Treasurys, which it has yet to liquidate to meet redemptions. Circle, the issuer of the popular USD Coin (USDC) stablecoin, currently has $3.3 billion worth of deposits stuck in SVB.

SVB Crash Explained

Silicon Valley Bank—#16 largest US bank with $212B — just crashed 60% in 1 day & fell 22% post-close. Stock halted [email protected] is calling a US gov [email protected] is calling a bank run.
JPM, BAC, WFC all dropped 6%.
What’s next?

Is this… https://t.co/xT4t5hLiwI pic.twitter.com/GEbvAdT8SQ

— Ming Zhao (@FabiusMercurius) March 10, 2023

 

 

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Michael Esber
  • Website

Related Posts

White House report takes aim at Bybit — and forgot about Deribit

March 25, 2023

‘US has left a vacuum that other countries are eager to fill’: Coinbase

March 25, 2023

Animoca denies reports of $200M cut to metaverse fund and valuation drop to $2B

March 25, 2023

NFT investor accidentally burns $135K CryptoPunk trying to borrow money

March 25, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Posts

Subscribe to Updates

Get the latest creative news from xBTCh for Forex and Crypto Alerts and Reviews

Your source for the serious news on crypto and forex. This website is crafted specifically to empower the consumer to exchange ideas and information freely, and anonymously.

We're social. Connect with us:

Facebook Twitter Instagram YouTube
Top Insights

Coinbase vs. Simplecoin: A Compressive Guide

March 25, 2023

BERKSHIRE HATHAWAY Review 2023: How to Buy Berkshire Hathaway Shares, Price Development, Price Chart, Buy

March 25, 2023

White House report takes aim at Bybit — and forgot about Deribit

March 25, 2023
Get Informed

Subscribe to Updates

Get the latest creative news from xBTCh for Forex and Crypto Alerts and Reviews

Forex Trading Review
Facebook Twitter Instagram
  • Home
  • About us
  • Privacy Policy
  • Terms of Service
  • Report Scam
  • Get In Touch
© 2023 FTR. Designed by FTR Research LLC.

Type above and press Enter to search. Press Esc to cancel.