Ripple Labs, the company behind XRP cryptocurrency, had some exposure to Silicon Valley Bank (SVB). Ripple CEO Brad Garlinghouse noted that Ripple remains in a strong financial position and expects no...
Tag: SVB
SVB Failure Sparks Blame Game Over Trump-Era Regulatory Rollback
(Bloomberg) — Eight years ago, Greg Becker delivered a blunt message to lawmakers in Washington: the bank he ran was not like Wall Street. Most Read from Bloomberg As chief executive officer of ...
Bitcoin Explodes 10% Daily on Positive SVB Developments, Binance $1B Injection: Market Watch
It’s been a while since we last saw so many developments in such a short time within the cryptocurrency market. The most important piece of information seems to be that the US Government, in the face ...
Regulators Shutter Signature Bank After SVB Collapse
In an effort to avoid the spread of the banking meltdown, authorities have announced the closure of another crypto-friendly bank – New York-based Signature Bank – dealing a severe blow to the crypto i...
Regulators Shutter Signature Bank Days After SVB Collapse $BTC
According to an announcement by the Federal Reserve, New York-based Signature Bank, which had several clients in the cryptocurrency space, was shut down by state regulators. Signature Bank Shut Down ...
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...
the collapse of SVB: crypto experts views on it
Silicon Valley Bank (SVB), one of America’s largest banks, declared bankruptcy on Friday, March 10, but what really happened? The implosion of the Silicon Valley bank, predictably, sparked fear and co...
Ripple CEO Assures Investors: We’re Financially Strong Despite SVB Exposure
Ripple CEO Brad Garlinghouse took to Twitter to address concerns about the company’s exposure to Silicon Valley Bank (SVB), which was recently shut down by regulators. Garlinghouse reassured investors...
Bitcoin (BTC), crypto prices surge as SVB depositors protected
Jakub Porzycki | Nurphoto | Getty Images Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the lender’s U...
Bill Ackman says U.S. did right thing in protecting SVB depositors
A sign hangs at Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images Billionaire investor Bill Ackman said the U.S. government’s actio...
SVB was only a little bit insolvent, luckily
This article is an on-site version of our Unhedged newsletter. Sign up here to get the newsletter sent straight to your inbox every weekday Good morning. It will be an interesting day in markets today...
JPMorgan Among Big Banks Bids To Acquire SVB, But There’s A Catch
SVB Financial Group, the parent of Silicon Valley Bank, is under acquisition talks after the failure of the Silicon Valley Bank caused chaos in the global market and stablecoins to depeg. Big banks ar...
Goldman Analysts Forecast No Fed Rate Hike In March
Topline Analysts at Goldman Sachs on Sunday said it “no longer expects” the Federal Reserve to hike interest rates later this month, after federal regulators moved to swiftly shield the U.S. banking s...
Ripple and XRP Whales Move Nearly 1B Tokens After SVB Exposure
The recent slew of whale transactions has raised questions, especially considering the situations with Silvergate and Silicon Valley Bank. Ripple and XRP whale addresses recently moved nearly 1 billio...
Ripple Has Exposure to SVB: CEO
Alex Dovbnya Ripple CEO Brad Garlinghouse clarified the company’s position on its exposure to Silicon Valley Bank (SVB), confirming that his company had some exposure to SVB as a banking partner...
SVB Bonds the US Says Will Be ‘Wiped Out’ Gain in Rare Session
(Bloomberg) — As US government officials pledged to fully protect all depositors of the failed Silicon Valley Bank, they had a specific message for investors in the bonds and shares of the bank’...
SVB Clients in Limbo After Seeking Refuge in Money-Market Funds
(Bloomberg) — In the hours leading up to Silicon Valley Bank’s collapse, a slew of startups tried to withdraw their cash. Those that couldn’t turned to a last-ditch option: parking it in third-p...
US Yields May Jump Back to 4% as SVB Rescue Reverses Haven Trade
(Bloomberg) — US 10-year Treasury yields may snap back up to 4% as government efforts to quash contagion risks from the collapse of Silicon Valley Bank damp demand for haven assets. Most Read fr...
With SVB and Signature, the US is making a “systemic risk exception” for systemically unimportant banks
A man puts a sign on the door of Silicon Valley Bank in Santa Clara, California Important now. With a resoluteness befitting a response to the threat of an all-out banking crisis, US banking regulator...
Brad Says “Ripple Remains in Strong Financial Position” Despite SVB Exposure
Ripple CEO Confirms SVB Exposure as FDIC Affirms It Would Cover All Deposits. Over the weekend, the blockchain payments based in Silicon Valley faced questions over whether it had exposure to the coll...
Biden vows to hold those responsible for SVB, Signature collapse
The President of the United States Joe Biden has vowed to hold those responsible for the failure of Silicon Valley Bank and Signature Bank while assuring Americans that their deposits are safe. On Ma...
S&P Futures Jump on SVB Backstop, Rate Bets Shift: Markets Wrap
(Bloomberg) — US stock futures rallied more than 1.5% while the dollar and bond yields tumbled as investors digested the steps taken by regulators to shore up the American financial sector in th...
Did the Fed plant the seeds of destruction of Silicon Valley Bank?
Were the seeds of Silicon Valley Bank’s collapse planted by the Federal Reserve’s rapid rate increases? That is one of the debates ranging online over the weekend. Michael Green, chief strategist and ...
We’re looking for stocks to buy after regulators saved SVB depositors
Phew, that was close. Too close. There was so much fear engendered by the events of the last 72 hours since Silicon Valley Bank collapsed that we’ll have investors who want to sell no matter wha...
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
WASHINGTON — Plans announced Sunday to fully reimburse deposits made in the collapsed Silicon Valley Bank and the shuttered Signature Bank will rely on Wall Street and large financial institutions — n...
Signature Bank Gets Shutdown By Regulators Following SVB
Yet another crypto-friendly bank has been forced to shut its doors: Signature Bank – the bank numerous crypto firms retreated to after Silvergate revealed operational difficulties earlier this month. ...
CeFI V DeFi Debate and Blame Games begin amid SVB Implosion
1 The 16th largest US bank SVB collapsed on March 10, 2023. 2 The crypto and the technology industry are blaming each other for the collapse. The collapse of Silicon Valley Bank (SVB) sparked a blam...
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...
Ripple CEO assures ‘strong financial position’ despite SVB collapse
Ripple CEO Brad Garlinghouse took to Twitter on Mar. 12 to discuss the company’s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple’s stability. Ripple had exposure to S...