The latest episode of Decentralize with Cointelegraph unpacks whether U.S. regulators are targeting the crypto ecosystem through closure of SVB and Signature Bank.
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Signature Bank in particular served the likes of Paxos Trust and Celsius and other major crypto firms that suffered as a result of the decisions taken by the Federal Deposit Insurance Corporation and New York State Department of Financial Services.
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Meanwhile Silicon Valley Bank (SVB) reportedly handled over $5 billion of funds for a handful of cryptocurrency venture capital funds including Andreessen Horowitz (a16z), Paradigm and Pantera Capital in recent years.
USD Coin (USDC) issuer Circle was directly affected by the closure of SVB, with $3.3 billion tied
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