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Philadelphia’s Republic First Bank Closed by Regulators, Assets Assumed by Fulton Bank
27.4.2024
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped in as receiver, with Fulton Bank assuming nearly...
Over 75% of Web3 games ‘failed’ in last five years: CoinGecko
30.11.2023
The “failed” blockchain games are those that have seen their 14-day moving average number of active users down more than 99% from its peak
Lightning devs must ‘wake up’ and fix security bugs, not please VCs: Bitcoin dev
27.11.2023
Antoine Riard, who left the Lightning Network in October, argues the Lightning Network is also at risk of becoming increasingly centralized and susceptible to single points of failure and censorship risks
OnlyFans, Patreon models turn to Web3 amid payment and censorship fears
21.9.2023
Patreon creators had difficulties getting paid in August, while OnlyFans once tried to ban porn on the platform, forcing creators to look at alternatives, including Web3
Heartland Tri-State Bank Collapses, Biden Urged to Grant Silk Road’s Ross Ulbricht Clemency, and More — Week in Review
6.8.2023
In this week’s news, another major U.S. bank has failed, a Maine senator has appealed to United States president Joe Biden to grant Silk Road creator Ross Ulbricht clemency, a senior U.S. district judge has rejected the approach taken in the SEC v. Ripple ruling regarding XRP, and Robert...
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators
1.5.2023
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable...
First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B
27.3.2023
According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as the 17 branches that...
Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket
19.3.2023
Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023,...
Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
13.3.2023
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 regulators aimed to “send a very strong...
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company
11.3.2023
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch...
‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion
11.3.2023
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 catalysts have been pointed to. Some believe venture...
Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident
11.3.2023
On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of...
US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual
10.3.2023
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 withdraw their funds on Monday after the FDIC took over...
Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’
9.3.2023
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. However, some critics are dismissing Warren’s...
Compass Mining Alerts Bitcoin Miners of Changes in Bitmain’s ASIC Design
8.3.2023
Compass Mining, a bitcoin mining firm, published a blog post stating that Bitmain, the company behind the application-specific integrated circuit (ASIC) mining rig, has made changes to its design. The post advised miners to be aware of the changes as Compass Mining identified “three...
Yuga Labs co-founder to take leave of absence due to health reasons
29.1.2023
Aronow said he will still be contributing as a board member and strategic advisor. However, his priority will be to get the best medical treatment he can to make a full recovery
Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions
7.1.2023
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 “modifying” its withdrawal policy, citing the crypto...
Balaji Srinivasan Says FTX Is a Preview of State Failure, USD Bank Accounts Could Be Frozen or Inflated to Worthlessness
12.12.2022
Angel investor Balaji Srinivasan says the collapse of crypto exchange FTX should be treated as “a preview of state failure.” He warned that one day U.S. dollar bank accounts “may be frozen or inflated to worthlessness,” emphasizing that the authorities “will show...
US Lawmaker: FTX Collapse Isn’t a Crypto Failure — It’s a Failure of SEC, Bankman-Fried, Centralized Finance
24.11.2022
U.S. Congressman Tom Emmer says the FTX meltdown is not a crypto failure but a failure with SEC Chairman Gary Gensler, former FTX CEO Sam Bankman-Fried, and centralized finance. “We need to get to the bottom of this. We need to understand why Gary Gensler and the SEC were not doing their...
Crypto Firm Freeway Updates Community, Says Trading Strategy ‘Failed’ and ‘Caused a Substantial Loss’
27.10.2022
Four days ago, the crypto rewards platform Freeway.io, formally called Aubit, halted withdrawals on October 23 after citing it was protecting the firm’s portfolio from “market fluctuations and volatility.” Two days later, the team updated the community and explained on Tuesday that “one...