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US banks experience volatility and trading halts amid bank failures and presidential assurances
13.3.2023
Dozens of regional banks saw share price swings that triggered trading halts as banks of all sizes feel the impact of last week’s bank failures
Silicon Valley Bank and Signature Bank Reignite ‘Moral Hazard’ Dilemma Bitcoin Was Designed to End
13.3.2023
A debate from the 2008 financial crisis resurfaces as the FDIC intervenes to help two troubled institutions with crypto connections, says CoinDesk's David Z. Morris
BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report
13.3.2023
Christine Okike, a lawyer representing BlockFi at its bankruptcy hearing claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally
Is This a Crypto Banking Bailout?
13.3.2023
As the wreckage that started inside crypto banking threatens financial institutions beyond the sector’s border, the federal government is eager to make it clear that it’s not going to let it get out of hand. But is it a bailout?
The Banking Crisis Is Not Crypto’s Fault
13.3.2023
Crypto might have a banking problem, but banks don’t have a crypto problem
Bitcoin Miner Stocks Surge Amidst Banking Meltdown
13.3.2023
Mining equities were up about 17% on average, along with the price of bitcoin
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....
Circle taps Cross River as banking partner, expands ties with BNY
13.3.2023
Circle announced a new banking partner after Silicon Valley Bank’s failure and is expanding ties with BNY Mellon
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,...
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 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)
Coinbase, Celsius and Paxos disclose funds in Signature Bank
13.3.2023
The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm
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,...
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
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
Breaking: Signature Bank closed by New York banking authorities
12.3.2023
The New-York-based bank, which is also known to serve a number of crypto firms, was shut down by state regulators, according to a Federal Reserve announcement
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...
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...