1 / 1 Relevant items tagged with #Contagion

Posts

EU Banking Watchdog to Deepen Probe of Links Between Banks, Crypto Entities: FT

[Jan 3 2:57 AM] The European Banking Authority (EBA) will take additional steps to anticipate how strains in non-bank financial institutions (NBFIs), including cryptocurrency-related entities, will affect banks.

US Government in Talks to Rescue Struggling First Republic Bank, Sources Say

[Apr 28, 2023 12:00 PM] Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal…

Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash

[Mar 16, 2023 8:02 PM] The collapse of FTX led to a similar exodus from centralized exchanges, as users worried they may lose access to funds during crises.

A Recap Of Last Week’s Banking Contagion And Bitcoin

[Mar 16, 2023 1:11 PM] So much has happened in the last week that it may be helpful to look at the totality of these events in relation to bitcoin. This is an opinion editorial by Dillon Healy, institutional partnerships at Bitcoin Magazine and Bitcoin 2023.The biggest…

Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

[Mar 13, 2023 4:30 PM] Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes…

Coinbase, Celsius and Paxos disclose funds in Signature Bank

[Mar 12, 2023 11:34 PM] The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm.

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

[Mar 11, 2023 2:30 PM] Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged…

Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil

[Mar 10, 2023 11:30 PM] According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic…

CFTC's Johnson urges Congress for expanded powers in crypto oversight

[Jan 26, 2023 7:47 PM] Johnson wants to protect customers in a way that reduces the risk of crises, and proposes a number of amendments to existing crypto regulation.

IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance

[Jan 20, 2023 5:30 PM] An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu…

Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions

[Jan 7, 2023 3:30 PM] Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is…

Crypto Contagion Lesson For Lenders: Stay Out Of Bitcoin Mining

[Jan 3, 2023 7:00 PM] The collapse of two giant crypto lending businesses that also mined bitcoin yields a few interesting lessons.“Contagion” is the most popular word in crypto after the disastrous fallout of the past year. And dominos keep falling as investors…

Approach with caution: US banking regulator’s crypto warning

[Dec 8, 2022 11:23 PM] The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management.

Silvergate denies recent FUD, confirms minimal exposure to BlockFi

[Nov 28, 2022 10:33 PM] Silvergate Capital has been quick to distance itself from the now-bankrupt crypto lender BlockFi.

Crypto Lender BlockFi Files For Bankruptcy

[Nov 28, 2022 10:21 AM] The filing indicates that the firm could have up to $10 billion in liabilities, as contagion from FTX spreads.BlockFi has filed for chapter 11 bankruptcy, according to a press release.The lending platform is the latest victim of contagion within…

Trusted Third Parties Continue To Be Security Holes

[Nov 22, 2022 10:00 PM] The recent FTX collapse has demonstrated the shortfalls of third parties. Successful businesses in the future will incorporate multisig into their operations.The below is a direct excerpt of Marty’s Bent Issue #1283: “Trusted third…

Crypto Lender Genesis Is On The Chopping Block As Contagion Continues

[Nov 19, 2022 2:00 AM] Genesis needs a $1 billion liquidity injection by Monday and Gemini sees significant bitcoin outflows as fears of insolvency spread throughout the industry. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin…

FTX will be the last giant to fall this cycle: Hedge fund co-founder

[Nov 17, 2022 5:55 PM] This bear market has seen the collapse of Celsius, Three Arrows Capital, Voyager, and now FTX, but the worst is likely over, a hedge fund executive suggests.

CME Bitcoin futures trade at a discount, but is that a good or a bad thing?

[Nov 17, 2022 12:12 PM] CME Bitcoin futures briefly traded at a 5% discount, alarming analysts, but what does it mean for BTC price?

The Crypto Contagion Intensifies With More Dominoes To Fall

[Nov 16, 2022 10:00 PM] A look into the next potential dominoes in the crypto native contagion, along with a comparison of the recent historic levels of withdrawals. The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium…

2 More Crypto Platforms Pause Withdrawals as Liquid Global and Salt Lending Cite Exposure to FTX

[Nov 15, 2022 1:30 PM] On Nov. 15, 2022, the crypto exchange Liquid Global revealed that it has suspended fiat and crypto withdrawals “until further notice.” The same day, customers leveraging the crypto lending platform Salt were also informed that Salt has paused…