#silicon valley
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Marc Andreessen — Visionary Behind Silicon Valley’s Iconic Firm
Marc Andreessen’s influence on the tech landscape is unmatched. From revolutionizing the internet with Mosaic to co-founding Andreessen Horowitz, his story is one of brilliance, audacious moves, and technological breakthroughs that continue to shape the future. 
BlackRock CEO predicts: inflation & interest rates still rising
Current situation in the banking sector is described by Lawrence Fink as the "price of easy money." He believes that the collapse of Silicon Valley Bank could have led to a massive financial crisis, but the prompt response of regulators prevented serious consequences. 
According to the March 2023 reserve report , a total of 8.7 billion USDC is being held in six banks. However, three of these banks – Silvergate, Signature, and Silicon Valley Bank – are currently experiencing liquidity and solvency issues. The situation is especially dire for Silicon Valley Bank, which held 3.3 billion USDC and has been forced to close by the California Department of Financial Protection and Innovation.
The USDC price has dropped by 15%, to $0.86, in response to these developments. Additionally, the DAI stablecoin has fallen by 10%, as up to 50% of its collateral is held in USDC.
Currently, US Treasury bills account for 77% of the USDC reserves. The remaining 23% is held in cash at various banking institutions. The fate of these funds will depend on the outcome of the bankruptcy process for the affected banks and the amount of funds that can be recovered. 
Hidden Ban for American Crypto Companies
Blockchain Association, one of the largest crypto-lobbying groups in the US, has requested documents related to possible "debanking" of crypto projects. The Association began its investigation following the recent collapse of Signature Bank, Silicon Valley Bank, and Silvergate, which had close ties to the crypto industry. 
The Swiss National Bank has reportedly agreed to extend a secured credit line of $54 billion to Credit Suisse to help it pay off its debts to clients.
Additionally, the Swiss regulator is said to be considering the purchase of Credit Suisse's senior debt securities for $2.5 billion in cash.
The collapse of Credit Suisse could have far-reaching consequences, potentially surpassing even those resulting from the recent collapse of Silicon Valley Bank. As such, it appears that a banking apocalypse has been averted, at least for the time being. 
President Joe Biden has personally promised to hold Silicon Valley Bank and Signature Bank accountable for any bankruptcy they may face, ensuring Americans that their deposits are safe.
"The American people and American businesses can have confidence that their bank deposits will be there when they need them," he tweeted.
We're eagerly waiting for more details on this matter! 
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