2 / 3 Relevant items tagged with #SilvergateBank

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Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps

[Mar 17, 2023 4:30 PM] The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking…

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

[Mar 17, 2023 2:30 PM] At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many…

This Crisis Will Define the Future of Money

[Mar 17, 2023 12:11 PM] The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly…

How credible is the ‘Operation Chokepoint’ theory?

[Mar 17, 2023 11:33 AM] Silicon Valley Bank and Silvergate Bank were crucial to many in the cryptocurrency industry, and it’s fueling theories that regulators encouraged their downfall.

Bitcoin Is a Clear Winner of the U.S. Banking Crisis

[Mar 17, 2023 9:26 AM] The narratives around bank failures, stablecoins and interest rate hikes seem strong enough to propel the price of bitcoin, says CoinDesk's George Kaloudis.

US Bank Outflows and Concerns Mount: 11 Banks Bail Out First Republic Bank From Collapse

[Mar 17, 2023 8:00 AM] After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen…

Collapse of Silvergate and Silicon Valley Bank represent a challenge for crypto

[Mar 16, 2023 4:35 PM] The fire lit by Silvergate Bank and Silicon Valley Bank will make it harder for crypto to find financial partners.

Former FDIC Regulator: Friendliness Toward Crypto 'Does Not Exist'

[Mar 16, 2023 1:12 PM] Jason Brett said despite regulators using the failure of three banks to target crypto, the industry itself is not in a crisis.

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…

Crypto bank Anchorage Digital cuts 20% of staff citing regulatory uncertainty

[Mar 14, 2023 10:47 PM] It's unclear whether Anchorage Digital’s layoffs relate to the current turmoil in the U.S. banking sector.

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…

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.

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…

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…

‘Nobody left to bank crypto companies’ — Crypto Twitter reacts

[Mar 12, 2023 11:06 PM] Prominent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks.

Biden vows to hold those responsible for SVB, Signature collapse

[Mar 12, 2023 10:57 PM] US President Joe Biden on Twitter said he is "firmly committed" to holding those responsible for the Silicon Valley Bank and Signature Bank collapse "fully accountable."

NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

[Mar 12, 2023 6:05 PM] On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the…

Extreme Market Turbulence: Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik’s Token Sell-Off Moves Markets, and More — Week in Review

[Mar 12, 2023 6:30 AM] It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out…

‘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…

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

[Mar 10, 2023 12:10 PM] After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can…

Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss

[Mar 10, 2023 8:28 AM] On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg…

US Fed to create new crypto team amid concerns about unregulated stablecoins

[Mar 9, 2023 11:15 PM] The Fed’s vice chair for supervision said that the central bank does not want to curb innovation but ensure that regulations protect households and the financial system.

Breaking: Bitcoin slips under $20K amid Biden budget, Silvergate collapse

[Mar 9, 2023 7:57 PM] The price of BTC briefly slipped under $20,000 on March 10, although at time of writing was hovering just above that level.

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

[Mar 9, 2023 11:30 AM] After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate…

Silvergate downfall sparks debate over whose fault it actually was

[Mar 9, 2023 12:00 AM] The demise of the crypto-friendly bank has prompted discussion about who tipped the first domino, and where crypto firms can turn for their banking needs.

Marathon Digital terminates credit facilities with Silvergate Bank

[Mar 8, 2023 7:25 PM] The decision to end its loan facilities with Silvergate Bank follows a shift in Marathon’s long-term financial strategy to build liquidity.

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 Bites The Dust, Down 35% As Crypto-Friendly Bank Ceases Operations

[Mar 8, 2023 5:03 PM] Silvergate Capital Corporation, the holding company for crypto-friendly Silvergate Bank, announced on Wednesday its decision to cease operations and voluntarily liquidate its bank.  Shares of Silvergate (SI) have taken a significant hit, trading…

Silvergate Bank Announces Voluntary Liquidation as Crypto Industry Woes Persist

[Mar 8, 2023 4:38 PM] At 4:30 p.m. Eastern Time, Silvergate Bank announced its intention to wind down the crypto-friendly bank’s operations and voluntarily liquidate the company’s assets. The news follows significant financial troubles the bank faced, and…