Binance CEO Changpeng CZ Zhao has waded into the SVB conversation that has been ongoing for some days. The Binance boss has faulted the role of traditional banks for the heightened risk in dealing wit...
Tag: Banks
“Banks Are a Risk to Fiat-backed Stablecoins,” Binance CEO Says
Binance CEO worries about USDT and USDC following US bank collapse. Emabattked Silicon Valley Bank has $209 billion in total assets. USDC has over $3 billion with the troubled US Silicon Valley Bank...
Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regula...
Silicon Valley Bank failure could trigger run on U.S. regional banks
Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions concerning the future of Silicon Valley Bank may affect regional banks across the United States, putting trillions of dollars...
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...
Silicon Valley Bank’s UK branch shut down by Bank of England
The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” and no “critical functions” supporting the financial system ...
Hedge funds and banks offer to buy deposits trapped at Silicon Valley Bank
Hedge funds are offering to buy startup deposits at Silicon Valley Bank (SVB) for as little as 60 cents on the dollar, Semafor reported on Saturday, citing people familiar with the matter. Bids range ...
From wine country to London, bank’s failure shakes worldwide
NEW YORK (AP) — It was called Silicon Valley Bank, but its collapse is causing shockwaves around the world. From winemakers in California to startups across the Atlantic Ocean, companies are scramblin...
Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company – Bitcoin News
After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary int...
Stocks Will Struggle to Beat 5% Treasurys, Strategists Say. And What the Heck Is ‘Out-Dexing?’
A top Wall Street forecaster told me how to beat the stock market from here: Buy a Treasury bill. I would leak the tip on Reddit, but I’m not sure how many moon rocket emojis to use. A six-month Treas...
‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion – Bitcoin News
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. ...
Silicon Valley Bank’s troubles put Circle’s $3.3b USDC reserve at risk
Circle’s USDC, the second-largest stablecoin with a market capitalization of $43b, has been hit by the collapse of Silicon Valley Bank (SVB). On Friday, regulators in California placed the bank under ...
Crypto-Friendly Banks Collapse as Regulatory Pressure Mounts
As the crypto industry continues to grow, it has faced increasing scrutiny from regulators around the world. Recent months have seen the collapse of several high-profile crypto-friendly banks, includi...
Banks down? That is why Bitcoin was created, crypto community says
Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community, leading many to come back to crypto roots, reviving the Bitcoin white paper p...
Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes
– Advertisement – According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetizati...
Elon Musk Trolls Those Who Call Crypto a Scam as Two Major Banks Crash
Yuri Molchan Twitter boss Musk has posted another meme related to crypto and to two major banks that are shutting down Contents Elon Musk makes fun of crypto haters as two banks go down Bitcoin grows ...
Silicon Valley Bank’s Failure May Lead to Smaller Fed Rate Hike
The second-largest bank failure in U.S. history might help the Federal Reserve do its job of tightening credit and slowing the economy. To be sure, the sudden collapse of the Silicon Valley Bank unit ...
Nigerian Banks Resume Dispensing Recently Demonetized Naira Banknotes – Bitcoin News
According to local reports, Nigerian financial institutions have begun abiding by a Supreme Court ruling that invalidated the Central Bank of Nigeria (CBN)’s demonetization of the 1,000, 500 and 100-n...
Binance CEO Mocks Critics as Two US Banks Crumble within a Week
Changpeng Zhao mocked US critics as two banks became insolvent. During FUD, Binance processed over $14 billion within a week. Binance’s spot volumes increased by 13.7% to an all-time high of $504 bill...
As Banks Topple, Regulators Face Reckoning for Week of Mayhem
(Bloomberg) — On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the US financial system. Most Read from ...
SVB Chief Sold $3.6 Million in Stock Days Before Bank’s Failure
(Bloomberg) — Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that ...
Time to say “Bon Voyage”?: Central Banks Ventures into Crypto Seas
Central banks worldwide are showing a growing interest in crypto. Keeping current scenarios in mind, their vision is debatable. Central Bank Digital Currency (CBDC) came up as a better option against ...
SVB Financial CEO Sold $3.6 Million In Stock Before Bank’s Collapse
Topline The CEO of Silicon Valley Bank Financial sold $3.6 million in stock two weeks before the California banking giant’s epic crash Friday, signaling bank officials might have known the bank was in...
Bank Stocks Take a Beating. Why Charles Schwab Also Is Getting Slammed.
On Thursday, bank stocks got hammered, and so did shares of brokerage firm Charles Schwab, which dropped 13%. On Friday the pain continued, with Schwab suffering another 6% decline by midday. Wait, wh...
SVB collapse highlights $620 billion hole lurking in banks’ balance sheets
Martin Gruenberg could not have picked a more prescient time to flag risks in the U.S. banking industry. On Monday, the chairman of the Federal Deposit Insurance Corporation (FDIC)—the agency that bac...
Stablecoin issuers seek to diversify banking partners in the wake of Silicon Valley Bank’s meltdown
The failure of California-based Silicon Valley Bank today leaves the crypto market with one fewer lending partner, adding further pressure on stablecoin issuer Circle to beef up its portfolio of bank ...
Banks Stand as a Hindrance to DeFi; Comments Coinbase CEO
Charles Hoskinson tweeted that algorithmic stablecoins should be studied to fully realize the vision of BTC. The CEO clarified Coinbase’s announcement on the halting of USDC: USD conversion on weekend...