Circle Internet Financial’s USDC stablecoin saw almost $3 billion in net redemptions, defined as the total number of USDC burned minus the number of USDC minted between Friday, March 10 and press time...
Tag: SVB
What Happened To Signature Bank? The Latest Bank Failure Marks Third Largest In History
Topline Signature Bank, a New York-based regional bank that became a leader in cryptocurrency lending, shuttered suddenly on Sunday, marking the third-biggest bank failure in U.S. history just two day...
Crypto investment products see largest outflows on record amid SVB collapse
Cryptocurrency investment products lost 10% of assets under management last week as institutional investors rushed for the exit during the latest episode of market volatility prompted by the Silvergat...
Bitcoin Rises as Biden Calls for Tighter Bank Regulations After SVB
President Joe Biden said anyone with deposits at Silicon Valley Bank and Signature Bank would have access to their money today. He emphasized that taxpayers will not pay for the funds regulators will ...
Bitcoin hits $23.7K as BTC price analyst calls SVB dip ‘bear trap’
Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView BTC price se...
Panic Mustn’t Be Allowed to Spread After SVB Collapse: EU Lawmaker
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President Biden assures taxpayers SVB and Signature Bank losses contained
President Biden has assured the senate banking committee that taxpayers will not bear the brunt of any potential losses incurred by SVB Financial Group and Signature Bank, in response to concerns abou...
Multiple Bank Stocks Stop Trading Amid Post SVB Volatility
While the Fed may have bailed out Silicon Valley Bank (SVB)’s depositors on Monday, the market’s uncertainty surrounding the entire banking sector still loom large. Trading for multiple banking organ...
President Biden Calls for Stronger Bank Regulations in Wake of SVB, Signature Bank Collapses
“We must get the full accounting of what happened and why those responsible can be held accountable,” Biden said. “In my administration, no one – no one is above the law. And finally, we must reduce t...
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...
BlockFi Has Cash Access for Staff, Vendors Despite SVB Collapse: Attorney
The New Jersey bankruptcy court had banned BlockFi from investing in secondary financial markets, according to a filing by U.S. Trustee Andrew Vara made on Friday. In a series of letters starting Feb....
Bank of London Submits Proposal to Acquire Silicon Valley Bank (SVB) UK Arm
According to Bank of London co-founder and CEO Anthony Watson in a statement, the acquisition of Silicon Valley Bank SVB’s assets could be a unique opportunity to grow the banking sector in the United...
People & Policies Propel Markets Higher
China Last Night KraneShares Key News Asian equities were mixed as Mainland China and Hong Kong outperformed, Taiwan and South Korea posted small gains, while Japan, India and Thailand posted declines...
Losses Top $165 Billion As Analyst Warns SVB Failure Risks Intense Regulator Scrutiny
Topline The second and third-largest bank failures in U.S. history rattled investors’ confidence in bank stocks to the tune of tens of billions of dollars Monday, as the contagion fears from Silicon V...
Brad Garlinghouse Encourages Ripple Community Following SVB Collapse
In the wake of the Silicon Valley Bank collapse, Ripple CEO Brad Garlinghouse has assured investors that the company is in a strong financial position. There have been several cases of shuttered bank...
Biden Says Saving Silicon Valley Bank Helped Economy ‘Breathe Easier’—But Not All Experts Agree
Topline Americans can “breathe easier” knowing the nation’s financial system is “safe,” President Joe Biden said Monday morning, in Biden’s first remarks since his administration rolled out measures t...
Dow Jones Falls On SVB Rescue Plan; First Republic, Charles Schwab Crash On Bank Fears
The Dow Jones Industrial Average dropped Monday, as global markets grappled with the ongoing crisis among U.S. banks. The FDIC and other financial regulators guaranteed all deposits of SVB Financial (...
Oil and gas stocks suffer broad selloff as crude prices drop in wake of SVB collapse
The energy sector was suffering a broad selloff Monday, as worries that the recent bank failures will trigger an economic slowdown which saps demand for crude oil. The Energy Select Sector SPDR exchan...
How SVB stock price performed in 5 years
Silicon Valley Bank (SVB) has suffered a major fall from grace following half a decade of being rated as one of the best banks in America. SVB and its parent company SVB Financial Group have been held...
HSBC acquires SVB UK for £1 amid collapse
In a deal facilitated by the British government and the Bank of England, HSBC has acquired the UK arm of Silicon Valley Bank (SVB) for £1, following the collapse of the US lender. The acquisition, fi...
Biden: SVB, Signature Executives Will Be Fired
Banks need more regulatory oversight, President Biden said during an address Monday morning about the recent closure of Silicon Valley Bank and Signature Bank. The government has taken control o...
Western Alliance Bancorp stock set to suffer record selloff of over 60% to 10-year low in wake of SVB collapse
Shares of Western Alliance Bancorp WAL, -74.87% took a 62.4% plunge toward a 10-year low in premarket trading Monday, adding to last week’s tumble in the wake of the collapse of SVB Financial Group’s ...
With SVB Collapse & 60% of Pre-Market Dip in FRC Stock, is Another Recession Brewing?
1 The US economy is currently facing a hard time. 2 HSBC is planning to acquire SVB’s UK arm. Economic turmoil is slowly taking over the US soil. The Great Recession resulted from a housing bubble whe...
Credit Suisse Default Swaps Hit Record as SVB Failure Hits Banks
(Bloomberg) — The cost of insuring the bonds of Credit Suisse Group AG against default climbed to the highest on record as the collapse of Silicon Valley Bank sparked concern about broader conta...
Who Has Exposure to SVB and Signature Bank? A Closer Look
Silicon Valley Bank and the crypto-friendly – Signature Bank – disclosed operational difficulties and were closed down by regulators. While some expect the collapse to prompt a domino effect, numerous...
Stocks rise, bond yields, bank stocks fall on SVB fallout
U.S. stock futures fell Monday morning ahead of the opening bell after federal banking regulators took aggressive actions over the failure of Silicon Valley Bank. Futures tied to the S&P 500 (^GSP...
Investors rush into bonds, gold in flight to safety after SVB rescue
A trader works on the floor during morning trading at the New York Stock Exchange (NYSE) on March 10, 2023 in New York City. Spencer Platt | Getty Images Investors flocked to safe-haven assets such a...
USDC nearly regains $1 peg after Circle says SVB deposit is available
In this photo illustration, a woman holds a smartphone with the USD Coin (USDC) logo displayed on the screen. Rafael Henrique | SOPA Images | Lightrocket | Getty Images USD Coin (USDC) came close to r...
Crypto Liquidations Surpass $237M as SVB Dust Settles
Almost 61,800 positions were liquidated in the past 24 hours, surpassing $237 million in total crypto liquidations. Binance executed the largest single liquidation order for $7.42 million, according t...
Bitcoin Bull Run Incoming? Regulators Look To Stem SVB Led Contagion
Bitcoin News: The global digital asset market registered a broad recovery on Monday as the United States Financial regulatory agencies came to the rescue Silicon Valley Bank led crisis. The digital as...
Circle Reserves worth $3.3B at SVB to be ‘fully available’ soon
$3.3B in USDC reserve deposits held at the failed SVB will be fully recovered when banks reopen in the U.S Circle also announced new partnership with the Cross River Bank Popular stablecoin issuer Cir...
HSBC Rescues SVB’s U.K. Arm As Bank Collapse Fallout Spreads Beyond U.S.
Topline HSBC on Monday announced it was acquiring the U.K. arm of failed Silicon Valley Bank (SVB), throwing a much needed lifeline to the country’s tech and life sciences sectors and ending a frenzie...