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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...
Bill Ackman warns US gov't: Fix mistake in ‘48 hours’ or face ‘destruction’
12.3.2023
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired
Silicon Valley Bank failure could trigger run on U.S. regional banks
12.3.2023
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses
Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’
12.3.2023
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle...
A Tale of 2 Banks: Why Silvergate and Silicon Valley Bank Collapsed
10.3.2023
Every U.S. bank is facing similar structural pressures to what drove crypto’s one-time favorite bank to the moon - then into the ground
How does a stock’s price-to-earnings ratio relate to cryptocurrencies?
10.3.2023
Cointelegraph analyst and writer Marcel Pechman explains how price-to-earnings ratios relate to cryptocurrency markets
Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss
10.3.2023
On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution...
Bitcoin, Ethereum Technical Analysis: BTC Under $20,000 as ETH Sinks Below $1,400 on Friday
10.3.2023
Bitcoin fell below the $20,000 level for the first time since January, as markets continued to react to the liquidation of Silvergate Bank. This comes ahead of a pivotal U.S. nonfarm payrolls report, which could decide how aggressive the Federal Reserve acts in its upcoming meeting. Ethereum moved...
Steve Forbes Says the Fed Is ‘Inflicting Unnecessary Pain’ With Interest Rate Hikes
10.3.2023
Media mogul Steve Forbes, chairman of Forbes Media, has warned that the Federal Reserve is “inflicting unnecessary pain” on the U.S. economy with its interest rate hikes after Fed Chair Jerome Powell said the Fed is prepared to raise interest rates at a faster pace. He also pointed...
Fed Chair Powell Provides Update on US Central Bank Digital Currency
10.3.2023
Federal Reserve Chairman Jerome Powell has provided an update on the Fed’s central bank digital currency (CBDC) work in a hearing before the House Financial Services Committee. While stating that the Fed is “making progress on technological issues,” Powell stressed that...
US Accounting Watchdog Issues Warning on Crypto Proof-of-Reserve Audits: Investors Urged to Exercise Caution
9.3.2023
According to a recent warning by the U.S. Public Company Accounting Oversight Board (PCAOB), crypto proof-of-reserve (POR) audits have limitations, and the board believes that investors should exercise caution when dealing with companies using POR audits. PCAOB Calls for Investor Caution and...
Expert Warns of Possible Deflationary Depression as Money Supply Contracts: ‘Pay Attention to QT and the Money Supply’
9.3.2023
During the Covid-19 pandemic, central banks such as the U.S. Federal Reserve loosened fiscal and monetary policy. Now, these same financial institutions are seemingly engaging in quantitative tightening (QT) practices. According to Nick Gerli, CEO and founder of Reventure Consulting, “the...
US Fed Standing Up New Squad of Crypto Specialists, Says Supervision Chief Barr
9.3.2023
The U.S. Federal Reserve is putting together a “specialized team of experts” to enhance its supervision of the crypto sector, said Michael Barr, the central bank’s vice chairman for supervision
US accounting watchdog warns investors about proof-of-reserve reports
9.3.2023
The warning was issued after crypto exchanges jumped into the trend of providing PoR reports to assure users after the FTX debacle
Crypto Sector’s Reserve Reports Can’t Be Trusted, Says U.S. Audit Watchdog
9.3.2023
Proof-of-reserve reports routinely touted by crypto firms to assure customers that their financial transactions are in secure hands shouldn’t be trusted, according to the U.S. organization that oversees auditing standards
Crypto Bank Silvergate Announces 'Voluntary Liquidation'
8.3.2023
The Federal Deposit Insurance Corporation has taken over Silvergate Bank, which saw prominent customers abandon it and its stock price plunge after revealing it faced regulatory scrutiny and had to sell assets to pay off loans
Fed Chair Warns of Higher Interest Rates Than Previously Anticipated, Faster Hikes
8.3.2023
Federal Reserve Chairman Jerome Powell has warned that “the ultimate level of interest rates is likely to be higher than previously anticipated.” In addition, if faster tightening is warranted, the Fed “would be prepared to increase the pace of rate hikes,” Powell said....
Bitcoin Climbs Above $22K as Powell Softens Tone on Day 2 of Congressional Testimony
8.3.2023
The Fed chair said no decision has yet been made on the size of the coming March rate hike
Bitcoin clings to $22K as US dollar strength rises to December levels — What's next?
8.3.2023
Bitcoin threatens to remove $22,000 as support as BTC price suffers against a booming DXY
Federal Reserve Chairman Powell Speaks Out: We Don't Want to Stifle Crypto
8.3.2023
Federal Reserve Chairman Jerome Powell has made it clear that the central bank doesn't want to prevent crypto innovation but warned that the industry is still replete with fraud and risks.
On Tuesday, Powell testified on Capitol Hill before the Senate Banking Committee. When asked about...