Circle Reveals $3.3 Billion in USDC Reserves Remain at Shuttered Silicon Valley Bank

• Circle disclosed that around $3.3 billion of its USDC reserves remain at Silicon Valley Bank after the lender’s share price dropped precipitously. • The second-largest collapse of a US financial institution in history triggered the capital crisis and caused Silicon Valley Bank to be shuttered by California banking regulators. • Regulators created a new […]

l E. Wiles of the U.S. Bankruptcy Court for the Southern District of New York said that the SEC was overreaching by blocking the transaction, which would have allowed Voyager Digital to be acquired by Binance.US.

SEC Concerns

The SEC has expressed concern that the acquisition of Voyager Digital by Binance US would constitute an illegal transaction under current regulations. The regulator believes that Binance US would be unable to adequately protect customers’ funds, as well as prevent fraud and money laundering. The SEC has yet to take a final decision on the matter, however.

Catchy Headline:

U.S. Judge Blasts SEC Over Attempt to Block Binance-Voyager Deal

• Binance’s CEO Changpeng Zhao has confirmed that the acquisition of Voyager Digital by BinanceUS is still on. • A US bankruptcy judge criticized the SEC for attempting to block the sale of Voyager Digital to Binance US. • The SEC believes that this deal should be halted because it would allegedly constitute an illegal […]