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Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
13.3.2023
Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong...
USDC's 'Black Swan' Depegging Could Have Been Avoided With Proper Regulatory Framework
13.3.2023
Fissures among the progressive left are primarily responsible for the lack of U.S. regulatory progress around stablecoins, says John Rizzo, senior vice president for public affairs at Clyde Group
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
13.3.2023
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount...
U.S. Fed’s Supervision Chief Investigating What Happened With Silicon Valley Bank
13.3.2023
Michael Barr, the vice chairman responsible for bank supervision and regulation at the U.S. Federal Reserve, is examining how the regulated Silicon Valley Bank met with its rapid collapse last week
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...
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?
US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst call SVB dip 'bear trap'
13.3.2023
Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted over extreme losses
State caps or federal regulation: What's next for political crypto donations
13.3.2023
The industry isn’t having the best of its moments now, but the topic of campaign donations in crypto remains a relatively safe space for innovation
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...
Coinbase Confirms $240 Million Corporate Cash Balance with Signature Bank Amid Lender Closure
13.3.2023
Major crypto exchange Coinbase stated that it has millions in corporate cash balance with the shuttered Signature Bank.
According to a March 13 Twitter thread, as of the close of business on Friday, March 10, Coinbase had "an approximately $240m balance in corporate cash" at Signature.
The...
Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week
13.3.2023
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed
Euler Finance hacked for over $195M in a flash loan attack
13.3.2023
Euler Finance became the victim of a flash loan attack where the exploiter managed to drain hundreds of millions worth of decentralized stablecoins and synthetic ERC-20 tokens
‘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
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,...
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 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
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...
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...