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Why isn't the Federal Reserve requiring banks to hold depositors' cash?

15.3.2023
The fact that most banks aren’t required to keep your money on hand makes it likely that more bank failures will occur in the months ahead

Don’t Get Your Hopes Up: SVB's Demise Won't Bring Interest Rates Down

15.3.2023
The Federal Reserve’s new Bank Term Funding Program is a backstop for banks – but also a license to let interest rates rip

Today in Crypto: Europol Closes ChipMixer & Seizes BTC 1909, 'Surge in Cold Storage & ETH Layer 2 Usage' Post-FTX, Synalcom & Qori Enable Crypto Transactions for 20K Businesses in 'One Action'

15.3.2023
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________... Read More: Today in Crypto: Europol Closes ChipMixer & Seizes BTC 1909, 'Surge in Cold Storage & ETH Layer 2 Usage' Post-FTX, Synalcom...

Bitcoin rejects at $25K as US PPI data meets Credit Suisse meltdown

15.3.2023
BTC price attempts to break towards the week's highs, but a charging U.S. dollar creates some serious friction for Bitcoin bulls

When Will Crypto Learn From the Mistakes of Banks?

15.3.2023
It’s time to bring the lessons of TradFi to crypto’s shadow banks, unregulated custodians and offshore exchanges – before another FTX or Silvergate

Who Is Cross River Bank, USDC Stablecoin Issuer Circle’s New Partner?

15.3.2023
The New Jersey-based regional bank has an increased profile after the trio of recent bank collapses – and will likely face added regulatory scrutiny

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

15.3.2023
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 SVB’s shutdown. In its statement following SVB’s...

Crypto Companies Shift Funds to Asset Managers Including Fidelity Amidst Banking Turmoil

15.3.2023
Crypto companies are moving their money from banks to asset managers as the turmoil in global banks continue, but industry insiders don’t see the bank failures as the end of banking for the crypto sector. The turmoil in the banking industry has so far led to three major bank failures in the...

MEV Rewards on Ethereum Reach All-Time High During SVB Bank Run and USDC Depeg

15.3.2023
Profits made from MEV were more than twice as high as the last peak during the FTX implosion

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

15.3.2023
It's unclear whether Anchorage Digital’s layoffs relate to the current turmoil in the U.S. banking sector

Mad Money Jim Cramer on BTC Price Surge: ‘I Would Sell My Bitcoin Right Into This Rally’

15.3.2023
The host of Mad Money, Jim Cramer, says he would still sell bitcoin despite the failures of major banks and growing public distrust in the banking system and the Federal Reserve. “Bitcoin is a strange animal,” he said, asserting that the price of the cryptocurrency is “being...

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

15.3.2023
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

Crypto Must Do Better to Be Banked, Say Industry Executives

15.3.2023
The downfall of Silvergate, Signature and Silicon Valley banks have wounded digital assets. But crypto might one day work with big banks if the industry can mature, WAX CEO William Quigley and Maicon CEO Alex Liu suggested

Circle CEO 'able to access' $3.3B of USDC's reserves at Silicon Valley Bank

15.3.2023
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

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

14.3.2023
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 leave the bank in jeopardy. Additionally...