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First Mover Asia: Silicon Valley Bank Failure Highlights Small Banks’ Vulnerability; Bitcoin Soars Past $22.5K
13.3.2023
Since September 2021, the growth in cash assets in small bank balance sheets has turned negative
USDC bounces back toward $1 peg after Fed announcement
13.3.2023
Positive developments concerning Circle's $3.3 billion worth of reserves held at Silicon Valley Bank and its new banking partners have seen USDC climb back toward its $1 peg
Ripple CEO assures ‘strong financial position’ despite SVB collapse
13.3.2023
In a short tweet thread with no specifics, Garlinghouse said the SVB situation would not disrupt daily operations
Circle Scrambles to Right USDC After Signature Bank Failure
13.3.2023
Circle Internet Financial’s $3.3 billion cash reserves problem was seemingly solved Sunday when federal regulators promised that depositors of failed Silicon Valley Bank would be made whole in short order. But Circle’s USDC stablecoin isn’t out of the woods
US Fed announces $25B in funding to backstop banks
13.3.2023
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 Depositors Will Have Access to "All" Funds Monday, Say Federal Regulators
12.3.2023
In a joint statement, federal banking and finance regulators said depositors will be made whole
Ripple Had ‘Some Exposure’ to Silicon Valley Bank, Says CEO
12.3.2023
Ripple, best known for its connection to XRP, kept some capital at the failed Silicon Valley Bank
Silicon Valley Bank collapse: Everything that’s happened until now
12.3.2023
Events surrounding Silicon Valley Bank are moving fast. Here is a breakdown of the major developments over the course of three days
Bitcoin Rises on Report Government Weighing Plan to Protect All Silicon Valley Bank Depositors
12.3.2023
Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking
12.3.2023
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 from the bank on Thursday. The following is a look...
Bank of London bids to acquire Silicon Valley Bank's UK arm
12.3.2023
The global clearing bank is leading a consortium of private equity firms seeking to purchase SVB's British arm
Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow
12.3.2023
The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal promptly after California regulators...
U.S. authorities preparing 'material action' to curb SVB contagion
12.3.2023
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
12.3.2023
The FDIC has reportedly started an auction process on late Saturday for Silicon Valley Bank. Bids are open for just a few hours
US Treasury Secretary Rules Out Government Bailout of Silicon Valley Bank
12.3.2023
U.S. Treasury Secretary Janet Yellen has ruled out a government bailout of the collapsed Silicon Valley Bank (SVB), which was shut down by regulators on Friday. Yellen explained that the reforms put in place after the 2008 financial crisis were aimed at preventing the need for government bailouts....
Lawmakers Seek Answers from Fed, FDIC on Silicon Valley Bank Collapse
12.3.2023
Lawmakers in the US held a meeting with the Federal Reserve and Federal Deposit Insurance Corporation on Friday to discuss the swift and stunning collapse of Silicon Valley Bank (SVB).
Democratic US Representative Maxine Waters reportedly discussed with officials from the two federal bank...
UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse
12.3.2023
An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom
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
12.3.2023
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 that Warren is “terribly misinformed.”...
Over 100 VCs, investors voice solidarity with Silicon Valley Bank
12.3.2023
Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank as a way to limit the fallout of the bank’s collapse and subsequent extinction of tech companies
Bill Ackman warns US gov't: Fix mistake in ‘48 hours’ or face ‘destruction’
12.3.2023
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired