Search

Nalezeno "silicon": 209

Bank Execs Face Senate Ire for Blaming Bank Collapse on Crypto While Amassing Millions

17.5.2023
US Senators have slammed executives of failed banks for trying to deflect blame away from their poor management practices and toward digital asset firms. During a Tuesday Senate Banking Committee hearing, Senator Cynthia Lummis lashed out at Scott Shay, the former chairman of now-collapsed...

Senators slam bank execs for blaming collapses on crypto, pocketing millions

17.5.2023
Senator Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse

US Sen. Cynthia Lummis Criticizes Signature Bank Executive for Blaming Crypto for Its Downfall

16.5.2023
Sen. Cynthia Lummis said she found it disappointing that a former crypto-friendly Signature Bank executive is not taking the blame for the failed bank, while criticizing his wordiness about crypto. The Wyoming Republican, who has advocated for crypto, questioned Signature Bank’s former Chairman...

Former Signature Bank Chairman Said the Bank Cut Back on Digital Asset Deposits in Wake of Volatility

16.5.2023
Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the wake of increased volatility and regulators' concerns at the end of last year, said the former chairman and co-founder of the now-shuttered bank. “Unfortunately, a series of truly extraordinary...

NFT Cockfighting Game Binned, Is Everything Wrong With Silicon Valley

16.5.2023
For the past year a company known as Irreverent Labs have been working on a game called MechaFightClub, which was to be driven by NFT sales and be based on the proud and ancient sport of cockfighting.Read more

GAO cites exposure to digital assets in exploring collapse of Signature Bank

11.5.2023
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure

Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’

7.5.2023
Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden...

SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse

6.5.2023
After the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s...

US regional bank shares sink despite Fed calling banking system 'sound'

4.5.2023
PacWest Bancorp was the hardest hit bank after-hours on Wednesday, falling over 50% following a reported plan to explore strategic options

JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

1.5.2023
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable...

Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures

29.4.2023
On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC)...

Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says

28.4.2023
The federal banking regulator said Signature’s exposure to crypto industry deposits was also a contributing factor to its failure

NFT markets are out of balance with sellers dominating

27.4.2023
In April there hasn’t been a single day where total sellers on the market haven’t exceeded total buyers

US Treasury seeks to tighten nonbank rules following banking crisis

24.4.2023
Janet Yellen called for further regulation of nonbank institutions claiming they pose a systemic risk to U.S. financial stability

Tether market cap eyes record high after regaining 65% stablecoin dominance

17.4.2023
The market capitalization of Tether is nearly a billion dollar away from reaching a new lifetime peak while rival stablecoins struggle

Stablecoins Cannot Function as Money Because They Have No ‘Assured Value’ — Bank of England Governor

14.4.2023
Andrew Bailey, the governor of the Bank of England, has asserted that stablecoins “will need to have the characteristics of, and be regulated as, inside money” before they function as money. Bailey also described crypto as a “highly speculative investment” with no intrinsic...

Senator Warren and Rep. AOC Investigate Silicon Valley Bank's "White Glove" Treatment of Crypto Firms – Regulation Incoming?

12.4.2023
US Senator and well-known crypto-critic Elizabeth Warren has joined hands with Congresswoman Alexandria Ocasio-Cortez in asking for more details about Silicon Valley Bank’s (SVB) dealings with crypto companies. The two politicians said in letters sent to some of SVB’s largest clients that they...