Banking Crisis in the United States and USDC Dynamic Tracking

ChainCatcher news, according to Proactive Investors, Bitcoin mining company Argo Blockchain stated that one of its subsidiaries holds cash deposits at Signature Bank, and these deposits are safe and accessible. Additionally, Argo and its subsidiaries have no exposure to Silicon Valley Bank or Silvergate. (Source link)

ChainCatcher news, according to CoinDesk, after the collapse of Silicon Valley Bank, Signature Bank, and Silvergate, Digital Currency Group (DCG) is trying to find new banking partners for its portfolio companies. DCG stated that Santander Bank (SAN), HSBC (HSBA), Deutsche Bank (DB), BankProv, Bridge Bank, Mercury, Multis, and Series Financial are still willing to engage with crypto companies.It is reported that these banks may restrict certain services for cryptocurrency companies, such as brokerage and money market services, as well as the ability to remit to third parties. Traditional banks may be willing to set up bank accounts for cryptocurrency companies but will impose restrictions based on the level of exposure to cryptocurrencies. (Source link)

ChainCatcher message, cryptocurrency market maker GSR stated to its clients and community that due to its proactive risk management approach, GSR has minimal remaining risk exposure to Signature and has no direct risk exposure to Silicon Valley Bank and Silvergate. (source link)