Bitcoin continued to gain momentum in Tuesday morning trading in Asia after a bounce back yesterday as regulators acted to backstop the U.S. banking industry following failures at California-based len...
Tag: Backstop
S&P Futures Jump on SVB Backstop, Rate Bets Shift: Markets Wrap
(Bloomberg) — US stock futures rallied more than 1.5% while the dollar and bond yields tumbled as investors digested the steps taken by regulators to shore up the American financial sector in th...
US Says All SVB Deposits Safe, Creates New Backstop for Banks
(Bloomberg) — US financial regulators moved on Sunday to protect depositors’ funds following the collapse of Silicon Valley Bank and set up a new financial backstop, seeking to stem fears that h...
US Fed announces $25B in funding to backstop banks
Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms. The funds would ensure ...
US Plans Emergency Measures to Backstop Banks After SVB
(Bloomberg) — The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, ...
US Discusses Fund to Backstop Deposits If More Banks Fail
(Bloomberg) — The Federal Deposit Insurance Corp. and the Federal Reserve are weighing creating a fund that would allow the regulators to backstop more deposits at banks that run into trouble fo...
Binance’s bailout fund is a welcome backstop for crypto — but questions remain
Last week, the world’s largest crypto exchange Binance formally unveiled a $1 billion “industry recovery fund” to help contain the damage dealt to the industry by the spectacular implosion of FTX. A f...
Binance tops up backstop fund with $215 million in bitcoin and BNB
Binance has topped up an emergency fund designed to protect users following pronounced volatility in crypto markets triggered by the exchange giant’s dispute with — and subsequent surprise rescu...
Bankman-Fried says his firms may deploy ‘hundreds of millions’ to backstop struggling crypto industry
In an interview with CNBC today, FTX CEO Sam Bankman-Fried said that he would be willing to spend “hundreds of millions beyond what we have thus far and in some cases more than that” to backstop firms...
Terra fiasco triggers bigger backstop for TRON’s stablecoin
Following the total collapse of Terra’s algorithmic stablecoin in May, TRON this morning announced a plan to significantly increase the amount of capital backing up its own stablecoin. USDD — at first...
Why does Mike Novogratz think Crypto could have a backstop due to inflationary concerns?
Inflation could let the markets shake from the base since the cash flow stops, and people start preferring to prioritize their basic needs instead of investing CEO of Investment management firm Galaxy...
Galaxy Digital CEO Mike Novogratz Says Crypto Markets Have a ‘Backstop’ Amid Stagflation Concerns – Here’s Why
Investment management firm Galaxy Digital CEO Mike Novogratz says that while US markets will continue to dip lower amid economic concerns, the crypto industry has a bulwark that can eventually stop it...
KBW recommends buying these 11 financial stocks, including First Republic, following federal backstop for banks
On a Monday following high-profile bank failures on Friday and Sunday, it may seem to be a strange time to recommend buying stocks of banks and other financial services companies, but Keefe, Bruyette ...