Business
Signature board member Barney Frank thinks regulators closed the bank down to send “a strong anti-crypto message.”
DeFi
DeFi giant MakerDAO will enact a series of changes to its protocol parameters on Monday to reinforce DAI’s peg.
Circle CEO Jeremy Allaire said the firm plans to onboard a new transaction banking partner for USDC settlements potentially as soon as tomorrow.
Major crypto exchange Coinbase said it expects to recover the entirety of its $240 million cash balance at Signature.
U.S. regulators have shut down Signature Bank, saying that all depositors will have full access to their deposits.
Bitcoin
BitMEX’s Arthur Hayes introduced the idea of a stablecoin backed by Bitcoin and derivatives in light of “the recent banking tremors reverberating through the crypto space.”
DeFi lending protocol Aave will increase the cost of borrowing BUSD to incentivize users to switch to other stablecoins.
Maker’s Rune Christensen called for a new name, a new look and a different approach to user acquisition for DAI.
Ethereum
NYAG Letitia James argued that ETH is a security because of its transition to Proof-of-Stake and the fact that its developers promoted it as an investment.
The Mt. Gox investment fund has opted to keep its Bitcoin reimbursement from the bankrupt Japanese crypto exchange.