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HSBC Acquires Silicon Valley Bank UK for £1 to Safeguard Customers and Taxpayers – What's Going On?
13.3.2023
Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers.
The deal excludes the assets and liabilities of SVB UK's parent company.
As of March 10,...
Ripple’s CEO assures stable financial state despite the collapse of Silicon Valley Bank
13.3.2023
Brad Garlinghouse, CEO of Ripple Labs, reveals that the company has a part of funds in Silicon Valley Bank. This announcement was made through his Tweet on Sunday. The bank’s closure on Friday has led many crypto companies to reveal their exposure to the bank. Ripple Labs is a crypto solution...
Coinbase CEO ponders banking features after Silicon Valley Bank crisis
13.3.2023
Coinbase CEO Brian Armstrong says the exchange has previously considered adding features to become a neo-bank of sorts
Silicon Valley Bank Crisis a 'Cyprus Moment' for Bitcoin: Crypto Observers
13.3.2023
The Fed's aggressive rate hikes and balance sheet reduction have caused a historic bank failure — fashioning a real-time ad for Bitcoin self-custody, observers said
Binance CEO announces recovery funds conversion from BUSD to 'native crypto'
13.3.2023
Binance CEO says with recent “changes” in stablecoins and banks, the company’s recovery fund will be converted from BUSD to “native cryptos" such as BTC
HSBC Subsidiary to Acquire Silicon Valley Bank's U.K. Unit for 1 Pound
13.3.2023
The bank said the deal is a move to strengthen it's regional presence
Silicon Valley Bank UK arm acquired by HSBC for one pound
13.3.2023
Banking giant HSBC announced that its U.K. arm is acquiring Silicon Valley Bank UK Limited (SVB UK) for one pound ($1.21)
‘Nobody left to bank crypto companies’ — Crypto Twitter reacts
13.3.2023
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
13.3.2023
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."
USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement
13.3.2023
The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would bail out depositors of California’s Silicon Valley...
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...