High levels of uninsured deposits helped do in Silicon Valley Bank and Signature Bank. But it turns out they’re not alone. X Ten banks owned by U.S.-listed financial companies — including Bank o...
Tag: Deposits
Binance Halts Deposits and Withdrawals in the UK
Binance announced that it would suspend deposits and withdrawals through bank transfers and card payments in the UK after the exchange’s local banking partner, Paysafe, said it would stop providing it...
Binance halts GBP deposits and withdrawals in the UK
Binance has suspended British pound (GBP) deposits and withdrawals for new users in the UK due to regulatory bottlenecks. The service will be discontinued for all customers on May 22. Barely one week ...
Binance to Suspend British Pound Deposits, Withdrawals
Unless it can find another service provider, crypto exchange Binance will suspend British pound sterling deposits and withdrawals starting on May 22, according to an email shared with Decrypt. The ema...
UK’s Third Largest Bank NatWest Places £1,000 Daily Limit on Crypto Deposits
Popular UK-based financial institution National Westminster Bank (NatWest) has restricted the funds its customers can spend on crypto purchases to reduce their exposure to the volatile asset class. Ac...
Binance Halts GBP Deposits and Withdrawals
Key Takeaways Binance is suspending all British pound deposits and withdrawals. The exchange already halted U.S. dollar transfers last month. Binance claims that only 1% of its users will be impacted ...
BTC Nearing $25,000 as Banks Face Exodus of Deposits – Market Updates Bitcoin News
Bitcoin moved closer to $25,000 on Tuesday, as banking withdrawals rose following the collapse of Signature Bank and Silicon Valley Bank. Reports suggest that withdrawals at the likes of JPMorgan and ...
HSBC Acquired Silicon Valley Bank UK Arm: Deposits Protected
HSBC has stepped up as a white knight to rescue SVB’s distressed UK arm with a sale at rock bottom prices! British banking giant HSBC Holdings announced today its acquisition of Silicon Valley Bank (S...
Binance To Stop Deposits and Withdrawals in British Pound
Exchange News New users will no longer be able to fund their accounts with British Pounds. Current customers would retain access to their British pound funds. Binance, a cryptocurrency exchange, has a...
Bank Deposits Over the FDIC Limit Are Risky. How to Protect Yourself.
Government regulators took the extraordinary step over the weekend of making whole uninsured depositors at two failed banks, but savers shouldn’t count on similar treatment if other banks fail in the ...
Deposits held at Signature Bank are secure and available
Crypto mining firm Marathon Digital Holdings has assured investors that the firm’s cash deposits at Signature Bank are secure and available for use as of Mar. 13. In a statement following the cl...
Regional banks are seeing flight of deposits to too-big-to-fail megabanks
The unexpected demise of Signature Bank over the weekend, on the heels of the failure of Silicon Valley Bank, ignited a shoot-first-and-ask-questions-later reaction among regional-bank investors as cu...
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits – Bitcoin News
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statemen...
Solana Whale Deposits $10M To Coinbase, Cashing In On Rise?
Data shows a Solana whale has deposited $10.2 million in SOL to the crypto exchange Coinbase as the asset’s price has risen by 16% today. Solana Whale Transfers $10.2 Million In SOL To Coinbase As per...
Okcoin Halts U.S. Dollar Deposits After Signature Bank Shutdown
Okcoin, the U.S. affiliate of cryptocurrency exchange OKX, announced on March 13 that it had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Okcoin CEO Hong Fang stated that ...
OKCoin pauses USD deposits following Signature Bank collapse
Crypto exchange OKCoin has halted U.S. dollar wire deposits in response to Signature Bank’s collapse while adding that the company had zero exposure to Silicon Valley Bank (SVB). OKCoin reacts to Sign...
Okcoin suspends USD deposits in wake of Signature Bank closure
According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that ...
MKR sees green as regulators move to restore deposits at failed SVB
Following the announcements to make Silicon Valley Bank (SVB) depositors whole, MKR’s price rallied by double digits. Due to DAI depeg, MakerDAO’s fee income slipped by 10% over the weekend. In respon...
OkCoin Exchange USD Deposits Halted
Arman Shirinyan Exchange from 2013 halts deposits, causing some concerns among its users OkCoin, a cryptocurrency exchange that has been around since 2013, recently announced that it has halted USD de...
OKCoin pauses dollar deposits, OTC services after ‘managing’ Silvergate situation
OKCoin, a U.S.-based crypto exchange affiliated with the much larger OKX, temporarily paused deposits of U.S. dollars following Sunday’s failure of Signature Bank. OKCoin CEO and OKX Pres...
FDIC Races to Liquidate Assets for Uninsured SVB Deposits by Monday
FDIC works around the clock to liquidate assets for uninsured customers’ deposits. Silicon Valley Bank has over $209 billion in assets and $175.4 billion in deposits. Circle, the issuer of USDC stable...
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,...
USDC, crypto rallies on news that SVB, Signature Bank deposits are safe
Markets • March 12, 2023, 8:16PM EDT USDC nearly regained its peg and cryptocurrencies rallied on the news that all Silicon Valley Bank and Signature Bank deposits will be fully returned to customers....
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...
State regulator takes control of Signature Bank, federal regulators guarantee deposits
Policy • March 12, 2023, 7:29PM EDT The New York Department of Financial Services seized crypto-friendly Signature Bank in order “to protect depositors,” the state banking regulator said i...
FDIC Will Protect All Silicon Valley Bank Deposits After Sudden Collapse, Treasury Says
Topline Federal regulators will safeguard all deposits at Silicon Valley Bank, including money that isn’t normally covered by federal deposit insurance, the Treasury Department announced Sunday evenin...
U.S. government guarantees all Silicon Valley Bank deposits, money available Monday
Financial regulators said Sunday night depositors of the failed Silicon Valley Bank will have access to all of their money starting Monday, March 13. In a joint statement, the heads of the Federal Res...
Feds Could Guarantee All Silicon Valley Bank Deposits: Report
With hours to go before the trading day begins in Asia, top U.S. regulators have mulled guaranteeing all deposits at Silicon Valley Bank to prevent broader panic in the global financial sector, the Wa...
Feds Could Protect All Silicon Valley Bank Deposits Amid Search For Buyer, Reports Say
Topline Federal regulators have discussed safeguarding all deposits at Silicon Valley Bank—including money that isn’t covered by federal deposit insurance—if a scramble to sell the collapsed bank does...
Ackman Urges US Government to Guarantee SVB Deposits
Billionaire hedge fund manager Bill Ackman has warned the US government that failing to guarantee all deposits held by Silicon Valley Bank (SVB) within 48 hours could result in the destruction of seve...
Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits – Economics Bitcoin News
Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fail without protecting all depositors. “No company will take even a tin...
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...