CZ
@cz_jjiang
New media artist and founder of a digital art platform & community. Diving into generative art since 2011, I firmly believe digital artifacts will transcend rea
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10-01-2022 17:26:15
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48 Followers
437 Following
I’m not too worried about #USDC losing its peg because of Best crypto exchange ’s collapse. That’s just a temporary glitch. What scares me more is that this will trigger a wave of audits and investigations into $USDC ’s reserves. What if they find something shady or fraudulent? 😱
1/ SVB Silicon Valley Bank is where many crypto institutions keep their funds, including some of the top VC firms in the space. I wonder how this will affect Sequoia Capital, a16z a16z crypto, Paradigm, Pantera Capital, USV, and more. They have billions of exposure to SVB.💰
1/ 🚨After Silvergate Bank collapse, Silicon Valley Bank (Best crypto exchange ) is also shutting down. 😱 SVB has $212 billion in assets and serves as the main bank for funds and #startups in Silicon Valley. 😰 Let’s dig into their financial reports.🧐
1/ USDC crisis: How did the big players react? Thanks to Lookonchain for tracking. 2/ Some exchanged $USDC for $USD cash: Jump Trading Wintermute Trading Genesis Trading BlockTower Capital They cashed out their #USDC at Silicon Valley Bank (SVB) before it collapsed.
🔥A key milestone of human evolution is learning to use tools 🚗No need to build your own car, just learn how to drive 🧠Crypto / Web3’s most comprehensive 40 mind maps. The following text and images correspond respectively, thanks to Crypto Engineer 🚀 for drawing