Circle, the issuer of the stablecoin USD Coin (USDC), has been forced to take action to cover a significant shortfall in its reserves after the closure of Silicon Valley Bank (SVB), one of the largest...
Tag: shortfall
Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’ – Bitcoin News
On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United S...
USDC To Regain $1 Peg As Circle Devises Strategy To Cover Shortfall
In an official statement, USDC issuer Circle stated that it would resume normal operations from Monday and that the stablecoin will be redeemable one-for-one with the U.S. dollar as it plans to utiliz...
Circle will cover funds shortfall caused by Silicon Valley Bank collapse
Circle stated that it initiated to transfer of $3.3 billion funds remaining in SVB However, the transfer was not processed as of Friday and the could be processed on Monday The stablecoin issuer has c...
Don’t Panic: ‘Circle Will Stand Behind USDC and Cover Any Shortfall’
Circle has issued a statement regarding USDC and the depegging of the stablecoin following the collapse of Silicon Valley Bank (SVB). If 100% of the $3.3 billion that Circle held at SVB at the end of ...
Navy Shortfall In P-8 Antisubmarine Aircraft Could Be A Problem For The Air Force Too
For the last ten years, the U.S. Navy has been fielding the world’s most advanced maritime patrol aircraft, a militarized version of the BoeingBA 737 jetliner that can fly farther and faster than the ...
Sam Bankman-Fried Disputes FTX US ‘Shortfall’ Claims, Critics Skeptical of Excel Spreadsheet Defense – Bitcoin News
Following an update from FTX debtors about the $5.5 billion discovered by administrators during an investigation, former FTX CEO Sam Bankman-Fried (SBF) took to Twitter to share a blog post from his S...
FTX finds $5.5 billion in liquid assets, still faces ‘substantial shortfall’
Collapsed crypto exchange FTX said Tuesday it has identified $5.5 billion of liquid assets, but said based on current estimates both the international and U.S. based exchange still face a “subst...
Musk Says Cost-Cutting Averted $3 Billion Twitter Shortfall
(Bloomberg) — Elon Musk said Twitter Inc. was on course for $3 billion of negative cash flow before he stepped in to stem losses by dismissing more than half the company’s staff. Most Read from ...
Apple Reportedly Faces Shortfall Of 6 Million iPhones Amid China Factory Protests
Topline Apple may fall short of its production target for its flagship iPhone 14 Pro models by nearly 6 million units worldwide, Bloomberg reported Monday, after workers at the world’s largest i...
Plug Power Stock Drops On Revenue Shortfall
Plug Power stock fell on Friday after the fuel-cell company said its annual revenue would be lower than expected because of supply-chain problems. Revenue for 2022 will be 5% to 10% lower than the $90...
AMD Sinks After Early Peek at Revenue Shows Steep Shortfall
(Bloomberg) — Advanced Micro Devices Inc.’s preliminary third-quarter sales missed projections by more than $1 billion, adding to concerns about the sputtering market for personal-computer chips...
FedEx to Close Offices, Park Aircraft After Warning of Sales Shortfall
Updated Sept. 15, 2022 5:42 pm ET Listen to article (2 minutes) FedEx said its quarterly revenue fell below its expectations and it was closing offices and parking aircraft to offset declining volumes...
Fundraising Rounds Continue, Hodlnaut Reports $193 Million Shortfall, Crypto Market Uptrend – crypto.news
Projects like Ready Player Me and Mural announced successful funding rounds. Hodlnaut also just recently announced a $193 million shortfall in their balance sheets while seeking Judicial management fo...
Tech Layoffs Hit California Revenue With 12% July Shortfall
(Bloomberg) — California collected 12% less in revenue than it expected in July, indicating that state coffers are taking a hit from a slowing economy and a cooldown in the once-booming technolo...
Hodlnaut Court Filings Highlight a $193 Million Shortfall, Whistleblower Condemns Crypto Lender’s Contradictory Statements – Coinotizia
The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the sta...
Hodlnaut reports $193 million financial shortfall as it seeks court protection
Embattled crypto lender Hodlnaut reported a nearly $200 million financial shortfall in a court affidavit filed earlier this month and obtained by The Block. The affidavit supporting Hodlnaut’s applica...
Hodlnaut Court Filings Highlight a $193 Million Shortfall, Whistleblower Condemns Crypto Lender’s Contradictory Statements – Bitcoin News
The troubled crypto lender Hodlnaut shared another update after the company froze withdrawals on August 8, and then revealed the company is seeking judicial management in order to rehabilitate the sta...
What Caused Nvidia’s Shortfall? Gamers or Crypto Mining?
Text size Nvidia has been hurt by fading pandemic-era demand for gaming graphics cards. Justin Sullivan/Getty Images Nvidia warned on Monday that shortfalls in its gaming segment revenue would hamper ...
Vauld Crypto Lender Discloses $70 Million Shortfall, Hopeful of a Takeover Deal with Nexo – crypto.news
Vauld has disclosed a shortfall of $70 million to its creditors. The centralized crypto lending platform says it still holds $300 million worth of assets and liabilities worth roughly $400 million. A ...
Target Stock Plunge Wipes $25 Billion As Inflation Squeezes Customers And Sends Costs Soaring—Spurring ‘Dramatic’ Earnings Shortfall
Topline Shares of Target collapsed Wednesday after the brick-and-mortar retailer posted disappointing first-quarter earnings spurred by unexpectedly high costs that offset rising sales—spelling more t...
Top shale oil boss warns US can’t replace any Russia shortfall
The head of the US’s biggest shale oil operator said the country would be unable to replace crude supplies from Russia this year, even as he backed calls for a global embargo on its energy exports. Sc...
Top China Chipmaker Warns of Growing Shortfall as U.S. Decouples
(Bloomberg) — Manufacturers in China are increasingly looking to source chips locally because they fear the U.S. and other governments may prioritize domestic users of the semiconductors vital t...
BMY Stock: Bristol Expects $10.5 Billion Shortfall This Year As Generics Loom
Bristol Myers Squibb (BMY) offered better-than-expected sales guidance Friday, and BMY stock rose despite looming competition for two of its biggest cancer drugs. X Revlimid and Abraxane are among Bri...
Banks are short more than $1 trillion in capital, says this analyst, who fears the shortfall will only get worse
The new year is nearly upon us, and one idea for where to invest is the banking sector, whose margins benefit from the high interest rates, at not terribly demanding valuations. That claim may surpris...