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Silicon Valley Bank, Silvergate Bank & Signature Bank collapse. Meta pulls the plug on NFTs

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Silicon Valley Bank, Silvergate Bank & Signature Bank collapse. Meta pulls the plug on NFTs

Victoria Gago
Mar 18, 2023
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With 2,500+ attendees, 300 partners and 200+ speakers, European Blockchain Convention 2023 truly brought the global crypto community together in Barcelona last month. 

Missed out on the action? Have a look at some of the best pictures and the official aftermovie.


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Recap of the Week


Collapse of 3 of the largest banks backing the crypto scene - Silicon Valley Bank, Silvergate Bank & Signature Bank

MakerDAO passes proposal to increase its portfolio holdings of US Treasury bonds by 150%

Meta pulls the plug on NFTs on Instagram and Facebook

Swiss National Bank says it will support Credit Suisse

Circle has been “able to access” its $3.3bn held with Silicon Valley Bank

Swiss Bankers Association proposes deposit tokens

Anchorage Digital reduces its workforce by 20%

Blockchain.com shuts down its asset management division

US lawmaker suggests Signature’s collapse was tied to instability of crypto

NatWest bank puts $6K monthly limit on crypto exchange payments

European Parliament votes to form final law on EU digital wallet

National Australia Bank makes first-ever cross-border stablecoin transaction

Euro Parliament approves Data Act on smart contracts

The Arbitrum Foundation will drop a new token and form a DAO


Latest Funding Rounds in Crypto

Proven raises $15.8M in Seed Round · Founded in 2022 · US

  • Proven uses zero-knowledge proos to reveal an institution’s assets and liabilities without revealing the personal data of customers.

  • The funds will be used to produce a proof-of-solvency protocol for centralized exchanges, stablecoin issuers and asset managers in the crypto space.

  • Round led by Framework Ventures.

Cnhc raises $10M in Seed Round · Founded in 2021 · Singapore

  • Cnhc is dedicated to developing a financial infrastructure that connects traditional finance to the blockchain world.

  • Round led by KuCoin Ventures.

  • This investment is part of KuCoin Ventures' broader strategy of investing in the Web3 infrastructure in the APAC region

Blockchain Founders Group raises €800K · Founded in 2021 · Germany

  • Blockchain Founders Group is a company builder and early-stage venture capital investor.

  • The money raised will be used to fund its next cohort of the web3-focused incubation program, BFG Superstars.

  • The program is expected to incubate and fund nearly 10 startups in the next batch, offering them the resources and mentorship they need to succeed in the rapidly-evolving web3 ecosystem.


Meme of the Week

Silicon Valley Bank: “2nd once in a lifetime crisis': Silicon Valley Bank  collapse floods internet with memes - Times of India

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