Written by

K33 Research

K33 Research

16 Mar 2023

The Friday Focus - Issue 77

Our weekly K33 Research newsletter.

Things seem to be settling down after some extraordinarily hectic days starting with the shutdown of Silicon Valley Bank last Friday. We'll give you the quick rundown in our Friday Focus below.  

Top stories

Last week's Friday Focus was barely off the pressers before news broke of regulators shutting down Silicon Valley Bank. The ripple effects soon hit crypto, with Circle confirming that $3.3bn of USDC backing was stuck. In turn, USDC depegged, and the crypto markets went haywire over the weekend. 

To add to the turmoil, on Sunday, N.Y. regulators took the time to shut down another crypto-friendly bank. Order in the markets was, however, largely restored when U.S. banks opened on Monday. The banking problems have yet to deter the appetite for cryptocurrencies, as crypto prices have soared over the past seven days. 

Many in the crypto industry view the recent bank shutdowns as an attack on crypto. A claim that is naturally dismissed by the authorities. 

Other things have happened in the past week as well. Here's our list of the most interesting stories:

Weekend Reading

Read here.