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PROOF assures investors of stable financial situation amidst Silicon Valley Bank crisis

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On March 11, PROOF, the parent company of Moonbirds, the NFT project, issued a statement about Silicon Valley Bank. PROOF confirmed that it held cash in Silicon

PROOF assures investors of stable financial situation amidst Silicon Valley Bank crisis

On March 11, PROOF, the parent company of Moonbirds, the NFT project, issued a statement about Silicon Valley Bank. PROOF confirmed that it held cash in Silicon Valley Bank. Fortunately, PROOF has diversified its assets, including ETH, stable currency and legal currency – so it has no financial and operational problems.

PROOF: Confirmed to hold cash in Silicon Valley banks, but has diversified assets

Analysis based on this information:


PROOF, the parent company of Moonbirds, issued a statement on March 11 with regards to the ongoing issue with Silicon Valley Bank (SVB) and their freezing of accounts. The company confirmed that it holds cash in SVB but remains confident that its diversified assets, including ETH, stable currency and legal currency, ensure that it has no financial and operational problems.

The statement serves as a message of reassurance for investors of the stability of PROOF’s financial situation in light of SVB’s actions. Earlier this year, SVB, a lender known for its ties to the technology industry, froze accounts associated with cryptocurrency exchanges, including Coinbase, due to concerns related to anti-money laundering regulations.

PROOF’s decision to diversify its assets is a smart move that shows that the company is proactive in dealing with potential financial risks. By holding a diversified portfolio, the company is better equipped to cope with any financial turmoil stemming from the actions of financial institutions.

The inclusion of Ethereum (ETH) in PROOF’s assets is notable, as it shows the company’s commitment to blockchain technology, which underpins the NFT project Moonbirds. It also suggests that PROOF recognizes the potential of ETH for generating value beyond its use as a cryptocurrency.

Stable currency and legal currency are also part of PROOF’s diversified assets, ensuring that the company has access to liquid funds to maintain operations. These assets are not subject to the volatility of cryptocurrencies, offering a level of stability that is important for businesses.

In conclusion, PROOF’s statement regarding its financial situation serves as a reminder of the potential risks associated with centralized financial institutions and the importance of diversifying assets. The company’s proactive approach to managing risk is commendable, and its commitment to blockchain technology through its inclusion of ETH in its portfolio bodes well for the future of Moonbirds. With a diversified portfolio, PROOF is well-positioned to weather any financial storms and continue to innovate in the NFT space.

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