Banks saw their share prices take a rollercoaster ride over the weekend and into March 13. Trading was temporarily halted for dozens of United States regional banks amid volatility and falling prices....
Tag: Banks
Crypto-friendly banks closure could pose a challenge for crypto companies
The closure of three major crypto-friendly banks in the US, Signature Bank, Silicon Valley Bank, and Silvergate Bank, has sent shockwaves across the digital asset industry. According to some in the cr...
Beat Banks Runs With Bitcoin: Meet The New Bull Narrative For Crypto
Bitcoin price is currently soaring, climbing more than 20% since last Friday. The rally could be due to a brand new bull narrative that’s possibly brewing: using BTC to beat bank runs – a situation un...
Cryptocurrency Community Debates Fallout from Closure of Major American Banks
The closure of three major American banks that serve cryptocurrency firms has sent shockwaves through the broader cryptocurrency community. Silicon Valley Bank (SVB), which has traditionally served st...
Swift: brings together 18 Central Banks
Swift’s CBDC and the 18 banks encouraging its development Swift is implementing the beta version of the Central Bank Digital Currency (CBDC), together with the support of 18 central and commercial ban...
Does Silicon Valley Bank’s failure signal the second Great Financial Crisis?
The US financial and banking system was rocked by the largest bank failure since the 2008 Great Financial Crisis which begs the question if we are on the brink of a new crisis. According to Brad McMil...
Third-biggest bank failure in U.S. history
The Signature Bank headquarters at 565 Fifth Avenue in New York, US, on Sunday, March 12, 2023. Lokman Vural Elibol | Anadolu Agency | Getty Images On Friday, Signature Bank customers spooked by the s...
G20 nations were warned by IMF about incoming trouble for crypto-friendly banks
The IMF sent a report to G20 nations last month which laid out the implications of crypto adoption in emerging markets. The report warned that banks with exposure to crypto may lose deposits and cease...
U.S. President Biden Claims Investors Of Affected Banks Will Not Be Bailed Out
After the failure of Silicon Valley Bank and Signature Bank, which threatened to set off a more widespread crisis, U.S. regulators were forced to step in with a series of emergency measures. In respon...
Crypto is Still Alive But US Banks Are Shaking
The unprecedented injection of liquidity into the market from the Federal Reserve during that period was an attempt to stimulate an ailing economy. But before that, crypto, which closely tracked the s...
Biden Says Saving Silicon Valley Bank Helped Economy ‘Breathe Easier’—But Not All Experts Agree
Topline Americans can “breathe easier” knowing the nation’s financial system is “safe,” President Joe Biden said Monday morning, in Biden’s first remarks since his administration rolled out measures t...
FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds – Bitcoin News
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, Ma...
Stocks of multiple banks get halted for volatility, more than once, to start the trading day
To gauge the panic-like activity of bank investors in the wake of the recent failures of SVB Financial Group’s SIVB, Silicon Valley Bank and Signature Bank SBNY, -22.87%, investors can check out the N...
Credit Suisse Default Swaps Hit Record as SVB Failure Hits Banks
(Bloomberg) — The cost of insuring the bonds of Credit Suisse Group AG against default climbed to the highest on record as the collapse of Silicon Valley Bank sparked concern about broader conta...
Circle partners with Cross River as other banks collapsed
Circle has partnered with Cross River as regulators shut down Silicon Valley Bank and Signature. The partnership ensures that USDC maintains its 1:1 peg to the US dollar. Circle, one of the largest st...
British startups react to Silicon Valley Bank UK’s rescue by HSBC
An entrance to the Alphabeta Building, which houses the offices of UK unit of Silicon Valley Bank, in the City of London, UK, on Monday, March 13, 2023. HSBC Holdings Plc is set to buy the UK arm of S...
Silicon Valley’s ‘greed and avarice’ to blame, trader says
Andrey Rudakov | Bloomberg | Getty Images The fallout from the shuttering of Silicon Valley Bank — the second-largest bank collapse in U.S. history — continued Monday, dragging down international bank...
USDC nearly regains $1 peg after Circle says SVB deposit is available
In this photo illustration, a woman holds a smartphone with the USD Coin (USDC) logo displayed on the screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images USD Coin (USDC) came close to r...
US Regional Banks Remain Under Pressure as First Republic Sinks
(Bloomberg) — The positive effect from the American regulators’ overnight support actions in the banking system quickly evaporated on Monday morning, with stocks signaling that fallout from the ...
First Republic, Provention Bio, Roku, Illumina, Boeing, and More Market Movers
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Bitcoin (BTC), crypto prices surge as SVB depositors protected
Jakub Porzycki | Nurphoto | Getty Images Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender’s U...
Bill Ackman says U.S. did right thing in protecting SVB depositors
A sign hangs at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Billionaire investor Bill Ackman said the U.S. government’s actio...
IMF had Warned G-20 That Widespread Crypto Use Would Impact Banks
“A widespread proliferation of crypto assets comes with substantial risks to the effectiveness of monetary policy, exchange rate management, and capital flow management measures, as well as to f...
Biden Administration Bails Out Failing Banks, Vows To Hold All Responsible
In a shocking turn of events, two major U.S. banks, Silicon Valley Bank and Signature Bank, have collapsed. The Federal Reserve quickly took action, and United States President Joe Biden announced tha...
JPMorgan Among Big Banks Bids To Acquire SVB, But There’s A Catch
SVB Financial Group, the parent of Silicon Valley Bank, is under acquisition talks after the failure of the Silicon Valley Bank caused chaos in the global market and stablecoins to depeg. Big banks ar...
HSBC Subsidiary to Acquire Silicon Valley Bank’s U.K. Unit for 1 Pound
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Bitcoin jumps more than 9% as U.S. acts to protect deposits at crypto-linked banks
Bitcoin and Ether led a strong price rebound in the top 10 non-stablecoin cryptocurrencies in morning trading in Asia as U.S. banking regulators took control of Silicon Valley Bank and Signature Bank,...
With SVB and Signature, the US is making a “systemic risk exception” for systemically unimportant banks
A man puts a sign on the door of Silicon Valley Bank in Santa Clara, California Important now. With a resoluteness befitting a response to the threat of an all-out banking crisis, US banking regulator...
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 ...