moody's
Moody warns of stablecoin adoption risk
Moody's Investors Service has warned that the recent turmoil in the traditional banking sector and USDC losing its peg could negatively impact stablecoin adoption and increase calls for regulation. The credit rating agency believes that fiat-backed stablecoins like USDC could face new resistance, limiting their stability and potentially causing a run on banks holding Circle's assets, which could lead to the depegging of other stablecoins.
Silvergate Loses Additional Ratings From Moody's
Cathy Wood's ARK Invest sold over 400,000 Silvergate Capital shares for $4.3 million. Reports say Silvergate Bank lost $718 million liquidating loans to meet $8.1 billion in withdrawals. Moody's Investors Service downgraded Silvergate and the bank due to the bank's predicament.
Silvergate Reports $1B Deficit In Q4 2022
Silvergate Bank reported a $1 billion net loss attributable to common shareholders in Q4 2022. The FTX and Alameda Research class-action lawsuit is against the corporation. Silvergate CEO Alan Lane said the business still believes in the digital asset market and would keep its financial sheet liquid.
Japan’s Digitalization Effort will have Mixed Credit Impact across Sectors, says Moody’s Report
Japan’s digitalization effort will have a mixed credit impact across sectors according to a new report by Moody’s investor services.