In the end, Silvergate Bank didn’t survive. But its executives were able to avoid taking government assistance. Silvergate Capital’s share price is down 83% since March 1, the day it said it was unabl...
Tag: Banks
What To Know About Silicon Valley Bank’s Collapse—The Biggest Bank Failure Since 2008
Topline Silicon Valley Bank collapsed in spectacular fashion Friday just days after it announced big losses, failing at attempts to raise funds or seek out a buyer, and creating the biggest bank failu...
Circle’s exposure to U.S. banks could top $9B
USD Coin (USDC) issuer Circle exposure to the United States banking system sits near to $9 billion, according to its latest audit report from January. Circle’s reserves are held in a number of r...
Silicon Valley Bank collapse: How it happened
A Brinks armored truck sits parked in front of the shuttered Silicon Valley Bank (SVB) headquarters on March 10, 2023 in Santa Clara, California. Justin Sullivan | Getty Images On Wednesday, Silicon V...
Fintech Brex got billions of dollars in Silicon Valley Bank deposits Thursday
Fintech startup Brex received billions of dollars in deposits from Silicon Valley Bank customers on Thursday, CNBC has learned. The company, itself a high-flying startup, has benefited after venture c...
Firm Seeks Buyer As Banks And Cryptocurrencies Lose Billions Of Dollars In Value
Topline Silicon Valley Bank Financial will explore a sale of the firm after attempts to raise capital earlier in the week were unsuccessful, according to multiple reports, as turmoil with the bank has...
Banks halted on exchanges, while 2-year treasury yield plunges
Quick Take Signature bank halted after dropping a record 22%, while 30% down in the past five days. Other banks have been halted, including First Republic and SIVB. SIVB is down 60%; these three banks...
VCs urge startups to withdraw funds from Silicon Valley Bank
Venture capital firms on both sides of the Atlantic have been urging their portfolio companies to move money out of embattled lender Silicon Valley Bank, deepening fears of a run on the tech-focused b...
Why Silicon Valley Bank’s crisis is rattling America’s biggest banks
The problems of two small banks on the West Coast are rippling across markets and causing new investor concerns about some of the country’s largest financial institutions. Why? Three words: rising int...
FED Supports Innovation with Guardrails for Bank’s Crypto Activity
The U.S Federal Reserve Vice Chairman Michael S. Barr cites findings on crypto assets. “Benefits of innovation can only be realized if appropriate guardrails are in place,” says Barr. Regulatory and s...
Experts are Skeptical Over Silicon Valley Bank’s Survival
Silicon Valley Bank’s Stocks fell by nearly 60%. The bank sold off a $21 billion bond portfolio for a significant loss to shore up liquidity. SIVB’s debacle links to the challenges currently faced by ...
Banking Selloff Goes Global After SVB Trouble. HSBC, BNP Paribas, UBS Tumble.
The selloff in the banking sector spread across the globe on Friday after SVB Financial Group said it was forced to unload assets at a loss following a decline in deposits. HSBC (ticker: HSBA.UK), Eur...
European bank stocks sink as Silicon Valley Bank jitters spread
European banking stocks sold off sharply in early trade Friday as a global contagion effect took hold after shares in U.S. bank SVB Financial plunged 60%. It followed an announcement by the tech-focus...
Signature Bank’s Stock Sinks 10% as Silvergate Prepares to Shut Down
Shares of Signature Bank fell Thursday after Silvergate, another leading bank for crypto firms, said it plans to wind down operations. Signature’s stock price fell upwards of 10% to around $92.40 per ...
Bitcoin loses 21k support, as contagion from Silvergate enters banks, financials sector
Quick Take Bitcoin lost $21,000 as support and is over 5% down today This comes after news of Silvergate halting operations. Contagion spreading into the banking and financials sector of the economy, ...
Over 130 US Banks Have Ongoing or Planned Crypto Assets Activities ⋆ ZyCrypto
Advertisement     The number of banks in the U.S. under the Federal Deposit Insurance Corporation (FDIC) dabbling with crypto assets has continued to surge, indicating...
Federal Reserve Takes Bold Move to Protect Banks from Crypto with Enhanced Guidance and Supervision
In recent years, the rise of cryptocurrency has caused a lot of excitement and controversy in the financial world. While some see it as the future of money, others warn of its potential dangers, parti...
Banks with crypto services require new Anti-Money Laundering capabilities
The new year began with the news that notable Web3 entrepreneur Kevin Rose fell victim to a phishing scam in which he lost over $1 million worth of nonfungible tokens (NFTs). As mainstream financial ...
Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’ – Bitcoin News
After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously w...
JPMorgan Chase sues former senior banker with ties to Jeffrey Epstein
Jes Staley, CEO of Barclays Justin Solomon | CNBC JPMorgan Chase sued its former investment banking chief Jes Staley over his ties to disgraced former financier Jeffrey Epstein, alleging that Staley i...
Jamie Fiore Higgins account of her life on Wall Street
Jamie Fiore Higgins interviewed on TV on Wednesday, August 31, 2022. Her book, Bully Market, exposed shocking behavior by some Goldman Sachs employees. Nbc | Nbcuniversal | Getty Images Jamie Fiore Hi...
Credit Suisse Stock Is Falling. Annual Report Is Delayed After Call From SEC.
Credit Suisse shares were falling on Thursday after the Swiss lender said it is delaying the publication of its annual report. The stock was down 5.3% in Zurich trading. Credit Suisse (ticker: CS) Ame...
Credit Suisse to delay its 2022 annual report after a ‘late call’ from the SEC
Workers pass a Credit Suisse Group AG bank branch in Geneva, Switzerland, on Thursday, Sept. 1, 2022. Jose Cendon | Bloomberg | Getty Images Credit Suisse on Thursday announced that it will delay the ...
US Crypto Holders Trust Banks and Exchanges for Custody
A recent survey conducted by Paxos has shown that American crypto holders still trust intermediaries such as banks, crypto exchanges, and mobile payment apps to hold their digital assets. The survey, ...
Crypto Firms in India Now Considered ‘Reporting Entities’ on Par With Banks
19 seconds ago | 2 mins read Bitcoin News Know Your Customer standards will become more than simply a recommendation. Crypto and NFT businesses in India are now considered “reporting entities.” Despit...
No exit ramp for Fed’s Powell until he creates a recession, economist says
Federal Reserve Chair Jerome H. Powell testifies before a U.S. Senate Banking, Housing, and Urban Affairs Committee hearing on “The Semiannual Monetary Policy Report to the Congress” on Ca...
10 banks that may face trouble in the wake of the SVB Financial Group debacle
As interest rates have risen, many banks have become more profitable because the spreads between what they earn on loans and investments and what they pay for funding has widened. But there are always...