4 / 6 Relevant items tagged with #SiliconValleyBank

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Report: Shanghai Bank Mulls Buying Silicon Valley Bank’s Stake in Chinese Subsidiary

[Mar 15, 2023 8:30 AM] According to reports, Shanghai Pudong Development Bank may acquire the China-based subsidiary of Silicon Valley Bank (SVB). Authorities in the Chinese city of Shanghai reportedly back the acquisition, which may help minimize the impact of…

DOJ and SEC to probe SVB collapse and insider stock sales: Report

[Mar 14, 2023 8:15 PM] The investigations are separate from one another but will both look into Silicon Valley Bank's collapse and stocks sold by executives prior to its fall.

Circle ‘able to access’ $3.3B of USDC reserves at Silicon Valley Bank, CEO says

[Mar 14, 2023 8:02 PM] Circle’s earlier disclosure that $3.3 billion worth of USDC reserves were held with Silicon Valley Bank resulted in it losing market share to its competitor USDT.

Moody’s Expect U.S. Banks To Deteriorate, Boon For Bitcoin?

[Mar 14, 2023 4:00 PM] Moody’s Investor Service, better known as Moody’s, has revised its view on the entire U.S. banking system from “stable” to “negative.” They cite rapid deterioration in the operating environment following the bank…

Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks

[Mar 14, 2023 3:30 PM] After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from…

A Record 67.7% Of Bitcoin Remains Unmoved As U.S. Banks Implode

[Mar 14, 2023 2:00 PM] Onchain data suggests that Bitcoin (BTC) appears to be a haven for investors looking to escape the unfolding banking crisis in the United States. A staggering 67.7% of all BTC has remained unmoved for over a year, recent data from Glassnode shows…

Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders

[Mar 14, 2023 1:30 PM] The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would…

The US Fed is Sitting On A $1.2 Trillion Loss On Its Bond Portfolio

[Mar 14, 2023 11:00 AM] The United States Federal Reserve (Fed) is sitting on a $1.2 trillion loss on its $8.3 trillion bond portfolio. Is The FED Failing? Out of their bond portfolio, the United States central bank is losing money by paying commercial banks via reverse…

Silicon Valley Bank was the tip of a banking iceberg

[Mar 14, 2023 10:27 AM] Bank forecasting needs to become more than a “check-the-box” motion for regulatory compliance. It needs to be treated as a strategic decision-making tool.

Signature Bank’s Closure Is Political And A Strong Anti-Crypto Message, Ex-Congressman

[Mar 14, 2023 4:10 AM] Barney Frank, the director of Signature bank and a former congressman who helped draft the Dodd-Frank Act, has stated that the lender is solvent and that there was “no real objective reason” for the bank to be closed. He said regulators…

Bitcoin market cap flips tech giant Meta, widens gap on Visa

[Mar 14, 2023 12:05 AM] BTC’s market cap has climbed to the 11th spot amongst top assets by market cap and now sits behind electric vehicle maker Tesla.

Debtors saved over $100M using de-pegged stablecoins to repay loans

[Mar 13, 2023 11:53 PM] Debtors jumped on the opportunity to grab a discount on their loan repayments when USDC and DAI de-pegged from the dollar.

US Fed faces internal probe over Silicon Valley Bank failure

[Mar 13, 2023 7:53 PM] Federal Reserve chair Jerome Powell said a "careful and thoughtful" review is needed to understand how the bank collapsed under its watch.

Goldman Sachs Now Expects No Rate Hike in March Due to Stress in US Banking System

[Mar 13, 2023 7:30 PM] Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC)…

FDIC to attempt another auction of Silicon Valley Bank: Report

[Mar 13, 2023 7:27 PM] Regulators are planning another auction for Silicon Valley Bank after the previous attempt to find a new owner failed.

USDC depegged, but it's not going to default

[Mar 13, 2023 4:35 PM] USD Coin is going to survive Silicon Valley Bank’s collapse. But it should inspire advocates of cryptocurrency to prepare for future systemic shocks.

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…

Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits

[Mar 13, 2023 3:00 PM] Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1…

U.S. Doesn’t Want To Get Entangled With The Silicon Valley Bank Collapse: Binance Boss

[Mar 13, 2023 2:00 PM] In a now-deleted tweet on March 12, Binance CEO, Changpeng Zhao, spoke on the failure of Silicon Valley Bank (SVB) and the U.S. government’s subsequent bailout of depositors. In the tweet, Zhao said the government doesn’t want to get…

Bank Stocks Crash As Bitcoin Soars 17% Above $24,000

[Mar 13, 2023 1:00 PM] The cryptocurrency market is volatile, and this week has been no exception. Yet, the financial sector has been more volatile recently, with bank stocks taking a big hit and Bitcoin (BTC) bouncing 17% above crucial resistance lines.  As of March 13…

US regulators shut down Signature Bank despite ‘no insolvency’: Report

[Mar 13, 2023 12:56 PM] “Regulators wanted to send a very strong anti-crypto message,” said former House of Representatives member and Signature Bank board member Barney Frank.

How MakerDAO Intervened, Saving DAI From Depegging

[Mar 13, 2023 12:30 PM] MakerDAO, the protocol behind the decentralized stablecoin DAI, intervened and saved its stablecoin from de-pegging following the collapse of Silicon Valley Bank (SVB). The failure of the tech lender significantly affected Circle’s…

Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum

[Mar 13, 2023 11:30 AM] On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant…

Uniswap Founder Says Banks Are Massive Scams

[Mar 13, 2023 11:30 AM] Hayden Adams, the founder of Uniswap, is convinced that banks are “massive scams” compared to decentralized finance (DeFi) protocols. Hayden Adams Thinks Banks Are Scams In a recent tweet, Adams criticized banks’ low collateral…

US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst calls SVB dip ‘bear trap’

[Mar 13, 2023 9:00 AM] Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted due to extreme losses.

FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds

[Mar 13, 2023 8:30 AM] The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both…

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.

Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps

[Mar 13, 2023 6:06 AM] The market frenzy that started with the Silicon Valley Bank collapse is pushing the BTC price higher, with some casualties left behind.

USDC Feeling Intense Pressure Despite Fed Action To Halt SVB Contagion

[Mar 13, 2023 4:24 AM] USDC and other cryptocurrencies were having a rough trading session Monday following an announcement from U.S. authorities outlining measures to minimize the impact of the collapse of Silicon Valley Bank. Concerns regarding Circle’s $3.3…

Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

[Mar 13, 2023 4:21 AM] Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed.