🇨🇳🏦 According to 36kr, nearly all Chinese tech startups that received US dollar investments prior to Round B first open an account with Silicon Valley Bank (#SVIB). There could be hundreds of startups in China with millions and hundreds of thousands of dollars locked in SVB.

🏦🍿 FDIC Starts Auction Process for Silicon Valley Bank (#SIVB) bbg

FT: According to Cherokee Acquisition, uninsured SVB deposits were quoted at 55 to 65 cents per $. Other deposits were offered at prices ranging from 70 to 75 cents per $.

🏦🙅‍♂ Yellen stated that Silicon Valley Bank will not receive government assistance: "We want to make sure that the problems that exist in one bank do not infect others that are healthy"

🥳🇺🇸 According to the FDIC, US banks have over $620 billion in unrealized losses.

🥳 Tops in the moment

🥳🇺🇸 US officials are considering bailing out all SVB bank (#SIVB) deposits, WAPO reports.

📈#ADA Coin Market Cap: Cardano-backed #DJED trading volume is up ~268% in the last 2 days, and the stable continues to trade at a premium, outperforming other stablecoins (even #USDT)

🏦🇺🇸 Fed and FDIC discuss support measures to keep SVB savers safe and allay contagion fears: Source
#in focus cnbc

🔛 External Ramp Network solution now integrated in the browser's Brave Wallet, allowing users to exchange crypto assets for fiat currencies, bypassing a centralized third party.

🥳 SVB #SIVB has reportedly deactivated his Twitter account.

📊 Kaiko: Coinbase has lost more than half of its liquidity — measured by market depth of 1% — since February 9th. This is complicated by the fact that their $orderbooks are merged with #USDC.

🥳 The Silicon Valley Bank #SIVB website is down.

👀 #XRP Ripple CEO confirms that the company had an undisclosed amount of cash in Silicon Valley Bank #SIVB.

🥳🇺🇸 The Fed and the Treasury prepare emergency measures to support banks and ensure they can meet potential withdrawal needs of their customers as the US seeks to avert a deeper crisis after the SVB (#SIVB) bankruptcy

The Fed plans to make it easier for banks to access its discount window, giving firms the ability to turn depreciated assets into cash without the kind of losses that caused SVB Silicon Valley Bank to fall. The Fed and Treasury are also preparing a deposit support program using the Fed's emergency lending authority.

🏦🇺🇸 Signature Bank closed today by state authorities: BBG

🥳🇺🇸 The US says all Silicon Valley Bank #SIVB depositors will have access to their money on Monday.

🔥🥳 Fed announceswhich will provide additional financing to banks

🥳 Fed: ready to address any liquidity issues that may arise: BBG

💃 Market in the moment

⚠️ You are in the moment

🥳 #USDC Circle CEO: moving remaining SVB money to BNY Mellon and recruiting new banking partner twitter

🍿👀 Signature Bank was transferred to the management of the US FDIC, all depositors will be compensated coindesk

👀 Coinbase: $240 million cash in Signature

👀 Paxos: $250 million in deposits at Signature Bank, deposit insurance in place
twitter #in focus