Regulators closed troubled Silicon Valley Bank after deposit outflows and a failed capital raise plunged the country’s 16th largest bank into crisis, roiling the larger lending industry. It beca...
Tag: FDIC
SVB seized by FDIC, Signature bank falls in heavy trade as bitcoin breaks down
The views and opinions expressed here belong solely to the author. Niche banks continue to fall apart. The Silvergate failure is being followed by Silicon Valley Bank (SVB), which collapsed on March 1...
Silicon Valley Bank Officially Fails as FDIC Takes Over
The embattled Silicon Valley Bank (SVB) has officially been closed down by the California Department of Financial Protection and Innovation, making for the second-largest bank failure in U.S. history....
Silvergate (SI) Stock Tanks 11% Amid Talks With U.S. FDIC
– Advertisement – Silvergate Capital’s share price slumped more than 11% earlier today. Officials from the U.S. Federal Deposit Insurance Corp are currently in talks with the crypto bank....
Silvergate Working Out a Rescue Plan with FDIC Officials
FDIC officials are reportedly looking at the books and records of Silvergate Bank and could provide a remedy for bank to come out of the turmoil. Crypto-focused bank Silvergate Capital is facing a maj...
Silvergate In Talks With FDIC In Bid To Salvage Bank
United States Federal officials are meeting with Silvergate management to discuss ways in which to save the troubled bank. FDIC Helping Silvergate Silvergate Capital Corp is on the verge of shutdown,...
Failing bank Silvergate and FDIC are discussing recovery plans
Ad Failing crypto bank Silvergate is exploring ways to make a recovery with U.S. regulators, according to a report from Bloomberg on March 7. Officials have visited Silvergate HQ Bloomberg reported th...
Silvergate reportedly talks with FDIC on ways to avoid shutdown
United States banking regulators have reportedly been sent to Silvergate’s headquarters in La Jolla, California — looking for ways to save the crypto-friendly bank from a possible shutdown. A M...
The Fed, FDIC, and OCC Warn Banks of Crypto Risks
US banking regulators have issued a new warning to banks to monitor for potential liquidity risks from clients involved in crypto. The Federal Reserve, Federal Deposit Insurance Corporation, and the O...
New York financial regulator investigates Gemini over FDIC claims: Report
New York State’s Department of Financial Services is reportedly investigating cryptocurrency exchange Gemini over claims that the firm made regarding assets in its Earn lending program. According to a...
Gemini Customers Upset Over Misleading FDIC Statements
Customers of Gemini exchange whose funds were frozen say they were misled into thinking their money was protected by the Federal Deposit Insurance Corporation (FDIC). Gemini customers claim the exchan...
Crypto Exchange Gemini Emphasized FDIC Insurance in Communications With Earn Customers: Report
CORRECTION (Jan. 30, 18:26 UTC): An earlier version of this article incorrectly drew the conclusion that Gemini is being investigated by the New York Department of Financial Services specifically for ...
Here’s How Crypto Is Already Addressing FDIC Fed Joint Statement on Risk Assets
The Federal Reserve and FDIC (Federal Deposit Insurance Corporation) released a joint statement on Tuesday, Jan 3. The paper describes the risks of holding digital assets. But here are some of the way...
Federal Reserve, FDIC & OCC warns About Risks Against Crypto Assets
The Federal Reserve, OCC and FDIC issued a joint statement regarding the potential risk of crypto assets. OCC is reviewing banks asking permission to engage in crypto assets. Acting OCC says crypto i...
US Federal Reserve, FDIC warn banks against crypto risks
The US Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) warned banks about the risks involved with crypto in a joint statement on ...
U.S. regulators issue post-FTX collapse crypto warning to banks
U.S. banking regulators remain skeptical of banks holding digital assets. The Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. put out a jo...
Senators question U.S. banking regulators on crypto exposure
Two U.S senators have written to agencies tasked with supervising the financial sector to seek details about banks’ exposure to cryptocurrencies. Sens. Elizabeth Warren, D-Mass., and Tina ...
FTX’s small investors biggest losers in fallout: Former FDIC Chair Bair
The collapse of crypto exchange FTX continues to send shockwaves through the market as more details emerge about the house of cards built by founder Sam Bankman-Fried, leaving analysts scratching thei...
FDIC to prioritize crypto risk assessment amid rising interest among banks
Disclaimer: Based on FDIC’s response to Cointelegraph, the article has been updated to confirm that the banks reported a solid Q2 performance by earning a combined net income of $64.4 billion. I...
FDIC acting chair says no crypto firms or tokens are backed by agency
Federal Deposit Insurance Corporation acting chair Martin Gruenberg said the agency does not back any crypto firms in the United States, nor does its insurance cover losses from tokens. In a Nov. 15 h...
FDIC doesn’t back any crypto firms or cryptocurrency, says acting head
The backstop of the U.S. banking system reiterated in a line of questioning before the Senate that its safeguards don’t extend to crypto. Sen. Bob Menendez, D-N.J., a senior member of the Senate...
US President Biden announces pick for FDIC chair
United States President Joe Biden announced he would be nominating Federal Deposit Insurance Corporation (FDIC) Acting Chair Martin Gruenberg to assume the position as part of a five-year term. In a N...
White House Goes Back to the Future With FDIC Chair Pick Gruenberg
Gruenberg, who has served on the FDIC board for a record 17 years after working for Democrats on the Senate Banking Committee, has been a reliable proponent of tougher financial rules, though his posi...
Biden nominates Gruenberg for full FDIC chairmanship
President Joe Biden nominated Martin Gruenberg to chair the Federal Deposit Insurance Corporation, one of the U.S. banking regulators. Gruenberg has occupied the role in an acting capacity sinc...
Banks Should Approach Crypto Investments With Extra Caution, Says FDIC Chairman ⋆ ZyCrypto
Advertisement     The Federal Deposit Insurance Corporation (FDIC) has cautioned banks against rushing into crypto-related activities without intensely assessing risks...
FDIC Chairman Says Regulators Should Oversight Over Stablecoin Issuers – crypto.news
Stablecoins, according to the FDIC chairman, might transform banking, but they must first be subject to prudential control and regulation. In line with this, stablecoins, in particular, are being exam...
Stablecoin Issuers Should Be Subject to Regulatory Oversight, Says FDIC Chairman
The FDIC is taking a closer look at crypto, specifically stablecoins, according to its acting chairman. The Federal Deposit Insurance Corporation (FDIC), alongside other Federal banking agencies, is e...
The US FDIC Decided To Alter The Banking System Through Stablecoins
Now the United States government is moving towards the adoption of the crypto world. The current chairman of the US Federal Deposit Insurance Corporation (FDIC), Martin Gruenderg, stated that the orga...