The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people famili...
Tag: Bank
Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank
Circle CEO and co-founder, Jeremy Allaire, confirmed that, as of March 13, the stablecoin issuer has been “able to access” its $3.3 billion of funds held with the collapsed bank, Silicon Valley Bank (...
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator – Finance Bitcoin News
The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. ...
USDC Struggled to Maintain Peg Amid Silicon Valley Bank Fiasco
Financial markets are undeniably sensitive to the news regardless of whether it is company or industry-specific. The cryptocurrency market being the nascent one among all the economic sectors also pro...
Crypto Not It, Regulators Denied Signature Bank Was Targeted For Ties With Digital Assets
After being shut down by U.S. regulators on Sunday, crypto-friendly Signature Bank director and former Congressman Barney Frank claimed they had “no indication of problems.” They suggested the bank’s ...
Signature Bank Shutdown Caused by ‘Crisis of Confidence’ in Leadership, NYDFS Says
“The decisions made over the weekend were not crypto related,” the spokesperson said. “Signature was a traditional commercial bank with a wide range of activities and customers, incl...
Kevin O’Leary Says Avoid Bank Stocks and Buy Energy Instead. Here Are 2 Names to Consider
In the wake of multiple bank collapses over the past week, many banking stocks’ valuations have fallen sharply and are trading at deep discounts right now. One investor, however, that definitely won’t...
Roku and 3 More Stocks Affected by Bank Failures That Wall Street Says to Buy
The biggest bank failure since the global financial crisis has clobbered stocks, but Wall Street analysts see buying opportunities in some of the stocks affected by Silicon Valley Bank’s collapse. The...
Major British Bank Limiting Customer Crypto Payments
Alex Dovbnya Two UK companies have announced restrictions on cryptocurrency payments for their customers, putting further pressure on the struggling digital asset industry On Tuesday, NatWest, one of ...
‘It’s a big failure for us.’ Sweden’s largest pension fund invested in both Silicon Valley Bank and Signature Bank before they failed
Sweden’s largest pension fund, Alecta, is under fire this week for investments it made into now-defunct U.S. regional banks. After the collapse of the tech-startup-focused Silicon Valley Bank (SVB) on...
National Australia Bank made first-ever cross-border stablecoin transaction
National Australia Bank (NAB) announced March 14 that it had executed the first-ever cross-border stablecoin transfer on a layer 1 public blockchain. The intrabank transfer used the bank’s fully backe...
Crypto bank Anchorage Digital cuts 20% of staff amid regulatory uncertainty, market volatility
Anchorage Digital, the only federally chartered crypto bank in the U.S., said Tuesday that it would cut about 20% of its staff amid regulatory uncertainty in the U.S., macroeconomic challenges and cry...
Silicon Valley Bank committed ‘one of the most elementary errors in banking,’ Larry Summers says
Silicon Valley Bank, the nation’s 16th-largest bank, failed because its managers made a textbook mistake, according to former Treasury Secretary Larry Summers. Summers, a Harvard University prof...
Signature Bank Closure is a Signal for Crypto Market, says Frank
Signature Bank collapsed on Monday morning, after which Barney Frank says regulators shut down the bank to send “a strong anti-crypto message.” In the last 4 days, this was the second US bank collapse...
Robert Kiyosaki sounds alarm over bank failures
Financial expert Robert Kiyosaki warns about the potential consequences of banks failing and highlights the benefits of cryptocurrencies as an alternative in a recent interview. In an interview Fox Bu...
US banking system outlook downgraded to ‘negative’ following recent bank failures
Credit rating agency Moody’s, has recently downgraded its outlook on the entire US banking system from “stable” to “negative.” The move comes in light of recent bank fail...
Ex-Ripple Advisor Appointed by Fed to Watch Over Failed Silicon Valley Bank (SVB)
Gamza Khanzadaev Michael Barr will lead supervision of collapsed Silicon Valley Bank (SVB) on Fed’s side Ripple’s former advisor and current Vice Chairman for Supervision at the Federal Re...
Warren Drafts Bill To Reverse Trump-Era Bank Deregulations After SVB Collapse, Report Says
Topline Democratic lawmakers, including Sen. Elizabeth Warren (Mass.) and Rep. Katie Porter (Calif.), unveiled legislation Tuesday to repeal a set of Trump-era policies that loosened regulations on sm...
SEC, DOJ Investigating Insider Stock Sales at Silicon Valley Bank: WSJ
The U.S. Justice Department and the U.S. Securities and Exchange Commission are investigating the collapse of Silicon Valley Bank, according to a report today from The Wall Street Journal. The investi...
Signature Bank regulator says it was closed for not providing data: Report
The New York Department of Financial Services (NYDFS) shut down Signature Bank for “failing to provide consistent and reliable data” and not because of a bias against crypto, according to a March 14 r...
New York Regulator Blames Signature Bank Shutdown on Leaders
The New York State Financial Services Department said the shutdown of Signature Bank was due to a lack of transparency rather than crypto. The state regulators said that the bank’s leaders caused a cr...
SEC, DOJ investigating Silicon Valley Bank: WSJ
Two U.S. regulators have begun an early investigation into the failed Silicon Valley Bank (SVB), according to a report from the Wall Street Journal on March 14. SEC, DOJ reportedly investigating SVB S...
Bank Stocks Rally On Tuesday As Investors Ask
(Photo by Spencer Platt/Getty Images) Getty Images Key Takeaways Banks investors have been on a wild ride, as the collapse of Silicon Valley Bank and Signature Bank caused a widespread selloff on Mond...
Bitcoin Soars Above $26,000 on Bank Collapses – Trustnodes
Bitcoin has risen above $26,000 for the first time in nine months since the Luna collapse in June sent its price diving from $32,000. That $32,000 might now be the new resistance in due course after w...
BlockFi Bankruptcy Attorney Describes Digital Assets Lender as Safe amid Silicon Valley Bank Crisis
Christine Okike said BlockFi remains safe and looked to access significant cash held with Silicon Valley Bank yesterday. Despite the Silicon Bank exposure, a BlockFi bankruptcy lawyer maintains that ...
Silicon Valley Bank Contagion: Crypto Companies Affected Include BlockFi, Circle, Avalanche, Ripple
As the fallout from the stunning collapse of Silicon Valley Bank (SVB) plays out, numerous crypto companies have signaled their exposure to the bank, which long maintained a reputation as one of the m...
Signature Bank and former executives sued by shareholders for alleged fraud
On March 14, a class action lawsuit was filed against the recently shut down crypto-friendly, New York-based Signature Bank, and its former chief executive office, Joseph DePaolo, chief financial offi...
Could the Silicon Valley Bank Crisis End Crypto Winter?
Following the collapse of Silicon Valley Bank, markets are predicting the Federal Reserve will take a softer approach to raising interest rates, a potentially hopeful sign for cryptocurrencies that ha...
Private equity firms Apollo and KKR among those reviewing Silicon Valley Bank loans
People wait outside the Silicon Valley Bank headquarters in Santa Clara, CA, to withdraw funds after the federal government intervened upon the bank’s collapse, on March 13, 2023. Nikolas Liepin...