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USDC Crisis Averted? Federal Regulators Offer Reassurance to Silicon Valley Bank Depositors, Ensuring Access to Funds
13.3.2023
The popular stablecoin USDC has regained its $1 peg price after regulators in the US assured that depositors in Silicon Valley Bank (SVB) can access their money today.
The assurance from the government means that all Silicon Valley Bank depositors will be made whole, despite the bank’s collapse...
FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds
13.3.2023
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under...
Bitcoin, Ethereum Technical Analysis: BTC Back Above $22,000 as Silicon Valley Bank Depositors Are Rescued
13.3.2023
Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news....
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...
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
13.3.2023
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 U.S. Federal Reserve, Treasury Department,...
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
Bitcoin Rises on Report Government Weighing Plan to Protect All Silicon Valley Bank Depositors
12.3.2023
Yellen Says No to SVB Bailout, but Says Government Is Working to Help Depositors
12.3.2023
Yellen sought to ease concerns that the bank’s collapse could lead to a domino effect
Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits
12.3.2023
Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fail without protecting all depositors. “No company will take even a tiny chance of losing a dollar of deposits as there is no reward for this risk....
Who Failed Silicon Valley Bank Depositors?
11.3.2023
Should we point fingers at Silicon Valley Bank, the Federal Reserve, the banking system, crypto or the depositors themselves?
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...
Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power
9.2.2023
According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three...
Will FTX Japan Depositors Really Get Their Money Back in February?
16.1.2023
The Japanese subsidiary of cryptocurrency exchange FTX is expected to resume withdrawals starting in February, according to a Japanese senior official.
Mamoru Yanase, deputy director-general of the Financial Services Agency’s Strategy Development and Management Bureau, has said FTX Japan will...
DCG Said to be in Talks with Creditors - Will Gemini Crypto Depositors Get Their Money Back?
12.1.2023
Barry Silbert’s crypto conglomerate Digital Currency Group (DCG) is “actively engaged” in talks with creditors, according to a little-known crypto exchange....
Read More: DCG Said to be in Talks with Creditors - Will Gemini Crypto Depositors Get Their Money Back?
Bank Holdups and Protests Continue to Rise in Lebanon as Depositors Demand Their Own Savings
20.12.2022
On Dec. 17, reports detail that residents in Lebanon have been staging sit-ins and protests at banks in order to access their own savings accounts. Since the economic collapse in 2019, Lebanon’s banks froze Lebanese bank accounts, and a number of branches have remained closed indefinitely....
A Crypto Rewards Platform That Promised 40% APY Halts Withdrawals, Citing ‘Market Fluctuations’
24.10.2022
A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid...
Voyager's auction did not serve depositors' best interests, alleges Wave Financial rep
28.9.2022
According to the Los Angeles management firm, "better bids were on the table" for depositors and the community
Celsius Depositors Fracture Again on Legal Strategy as 'Withhold' Group Lawyers Up
22.8.2022
A subset of Celsius Network depositors are trying to get their marooned funds returned
CoinFLEX Proposes Plan to Compensate Depositors, Restructure Business
22.7.2022
CoinFLEX wants to issue depositors tokens and approve a new structure for its business
Report: Lebanon Planning to Devalue Currency by 93%, Depositors to Lose $38 Billion
9.2.2022
The Lebanese government is reportedly planning to devalue the local currency by up to 93% in a desperate bid to receive funding from the International Monetary Fund (IMF). As part of the plan, a major portion of foreign currency deposits in the banking system will be converted into local currency...