11 / 14 Relevant items tagged with #Banks

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Crypto industry may escape lasting damage from Silvergate liquidation

[Mar 13, 2023 8:01 AM] Some foresee benefits if the U.S. finally gets sensible crypto regulation post-Silvergate, and traditional banks “may become warmer to establishing [crypto] relationships.”

Silicon Valley Bank collapse: How SVB stock price performed in 5 years

[Mar 13, 2023 7:38 AM] Silicon Valley Bank was rated as one of the top banks in America for five years running prior to its closure by U.S. regulators in March 2023.

Circle taps Cross River as banking partner, expands ties with BNY Mellon

[Mar 13, 2023 5:47 AM] Circle announced a new banking partner after Silicon Valley Bank’s failure, and is expanding ties with BNY Mellon.

Binance CEO announces recovery funds conversion from BUSD to 'native crypto'

[Mar 13, 2023 2:50 AM] Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC.

U.S. Treasury, FDIC And Federal Reserve Will Guarantee All Deposits At SVB, Signature Bank In Unprecedented Move

[Mar 12, 2023 7:59 PM] A joint statement ensured that all customer deposits at the respective banks will be honored by the federal government.The U.S. Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC) announced on Sunday that they would take…

US Fed announces $25B in funding to backstop banks

[Mar 12, 2023 5:02 PM] The Federal Reserve established a funding program for banks, making $25 billion available to eligible firms in a bid to avoid further banking liquidity issues.

Silicon Valley Bank collapse: Everything that’s happened until now

[Mar 12, 2023 3:14 PM] Events surrounding Silicon Valley Bank are moving fast. Here is a breakdown of the major developments over the course of three days.

Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking

[Mar 12, 2023 2:30 PM] After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion…

Bank of London bids to acquire Silicon Valley Bank's UK arm

[Mar 12, 2023 1:38 PM] The global clearing bank is leading a consortium of private equity firms seeking to purchase SVB's British arm.

U.S. authorities preparing 'material action' to curb SVB contagion

[Mar 12, 2023 12:12 PM] The White House assessed the impact of Silicon Valley Bank's failure over the weekend with a keen attention to venture capital firms and regional banks.

FDIC bidding for Silicon Valley Bank is in progress: Report

[Mar 12, 2023 10:56 AM] The FDIC has reportedly started an auction process on late Saturday for Silicon Valley Bank. Bids are open for just a few hours.

UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse

[Mar 12, 2023 9:38 AM] An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom.

U.S. Treasury Janet Yellen working on SVB collapse, not at bailout: Report

[Mar 12, 2023 8:29 AM] Janet Yellen said in an interview on March 12 that U.S. regulators are working to address Silicon Valley Bank collapse, but not considering a major bailout.

Over 100 VCs, investors voice solidarity with Silicon Valley Bank

[Mar 12, 2023 2:32 AM] Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank to limit the fallout of the bank’s collapse and the subsequent impact on tech companies.

Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ

[Mar 11, 2023 11:26 PM] Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins.

Silicon Valley Bank failure could trigger run on U.S. regional banks

[Mar 11, 2023 8:06 PM] A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses.

Banks down? That is why Bitcoin was created, crypto community says

[Mar 11, 2023 9:38 AM] Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community.

USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank

[Mar 10, 2023 11:05 PM] At the time of writing, USDC lost 3% of its value as it traded at $0.969, and a Circle executive envisions broader implications for business, banking and entrepreneurs without a Federal rescue plan.

Circle's exposure to U.S. banks could top $9B

[Mar 10, 2023 3:15 PM] Circle's reserves are held in a number of banks in the United States, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon.

What does the Silvergate collapse mean for crypto?

[Mar 10, 2023 1:15 PM] The recent collapse of crypto-friendly bank Silvergate will likely increase regulatory scrutiny on the ties between the crypto industry and the banking sector in the U.S.

Silicon Valley Bank shut down by California regulator

[Mar 10, 2023 11:04 AM] The FDIC stated that as the receiver, it had immediately transferred all insured deposits of Silicon Valley Bank to the newly created Deposit Insurance National Bank of Santa Clara (DINB).

Crypto industry braces for impact with Silvergate exit

[Mar 9, 2023 3:30 PM] Silvergate may not pose a systematic risk for the U. S. banking system, but it could raise risks related to banking concentration and introduce new challenges for venture capital firms sources claim.

Banks with crypto services require new Anti-Money Laundering capabilities

[Mar 9, 2023 8:41 AM] Large financial institutions are getting involved in digital assets by investing capital, time and effort into on-chain analytics solutions.

Ukraine’s central bank sees both promises and threats in Bitcoin

[Mar 9, 2023 7:40 AM] The central bank of Ukraine sees crypto as a threat to macro-financial stability and a promising opportunity for better payments at the same time.

Silvergate Bank Announces Liquidation And Winding Down Of Operations

[Mar 8, 2023 6:30 PM] Once a major banking partner for various cryptocurrency firms, Silvergate will end its operations in line with regulatory requirements.In a press release shared on Wednesday, Silvergate Capital Corporation, the holding company for Silvergate Bank…

Silvergate Capital Corporation will ‘voluntarily liquidate’ Silvergate Bank

[Mar 8, 2023 3:43 PM] The company claimed that the bank's voluntary liquidation is its best path forward due to recent industry and regulatory developments.

Gemini’s banking relationship with JPMorgan ‘remains intact’

[Mar 8, 2023 3:15 PM] In a brief and straightforward message, crypto exchange Gemini denied rumors, saying its banking relationship with JPMorgan remains intact.

Pakistan banks agree on blockchain-based KYC system development

[Mar 6, 2023 1:30 AM] The blockchain-based national eKYC banking platform is aimed at strengthening anti-money laundering (AML) capabilities while countering terror financing.

Pakistan Banks to Use Blockchain Technology for KYC

[Mar 5, 2023 10:30 PM] Banks in Pakistan plan to launch an electronic platform for know-your-customer procedures that will be operating on a national level. The blockchain-based system will allow them to exchange the personal information of customers through what they…

Bybit halts USD bank transfers citing partner outages

[Mar 4, 2023 2:43 PM] Dubai-based Bybit is the latest crypto exchange to suspend USD wire transfers claiming partner disruptions.