No, the Foundation's funds are held on cold wallets and with Sygnum, a Swiss licensed bank.
11 Mar 2023, 08:16
No, the Foundation's funds are held on cold wallets and with Sygnum, a Swiss licensed bank. SVB primarily served US-based startups and funds. In the meantime though we've also gone ahead and took the necessary steps to increase the exposure to assets other than USDC (had a fairly broad distribution already) to avoid issues in case of market overreaction/bank run. Our first instinct is always capital preservation at turbulent times.