U.S. financial regulators on Sunday said Silicon Valley Bank SIVB, -60.41% depositors would have access to “all their money” starting Monday and that no losses associated with the bank’s resolution wo...
Tag: SVB
US Plans Emergency Measures to Backstop Banks After SVB
(Bloomberg) — The Federal Reserve and the Treasury Department are preparing emergency measures to shore up banks and ensure they can meet potential demands by their customers to withdraw money, ...
SVB collapse means more stock-market volatility: What investors need to know
It’s all eyes on federal banking regulators as investors sift through the aftermath of last week’s market-rattling collapse of Silicon Valley Bank. The name of the game — and the key to a near-term ma...
No Bailout for SVB. Here’s What to Expect.
The sudden collapse of Silicon Valley Bank last week segued into an anxious weekend for depositors, as start-ups and Wall Street fretted about the regulatory response to the largest bank failure since...
Regulators unveil plan to assure depositors will get money after SVB collapse
A man walks by the headquarters of Silicon Valley Bank on March 10, 2023 in Santa Clara, California. Liu Guanguan | Getty Images Banking regulators devised a plan Sunday to shore up deposits at Silico...
USDC Recouping its Lost Peg, Suffers due to SVB Exposure
Due to SVB exposure, USDC lost its peg but soon recoiled to the $1 peg after the issuer pledged to cover losses. Circle Internet Financial Ltd. held $3.3 billion in reserves in the second-largest bank...
Ripple discloses exposure to SVB; not caused business operations disruption
While the future of Silicon Valley Bank (SVB) is still being decided, another crypto player has declared exposure to the failed bank. And, this time around the firm in the headlines is Ripple – a popu...
New Bank Run Already Underway at Second Regional Bank After SVB Collapse, Says Investor David Sacks
Former PayPal executive, tech investor and entrepreneur David Sacks says another bank run is already underway at a second regional bank following the abrupt collapse of Silicon Valley Bank. In a new i...
Bitcoin (BTC) Reclaims $21,000 Amid SVB Chaos
Alex Dovbnya As Silicon Valley Bank’s sudden collapse sends shockwaves across the technology industry, the price of Bitcoin soared to an intraday high of $21,605 on the Bitstamp exchange The pri...
Binance CEO CZ ‘Banks are a risk to fiat-backed stable coins’ in reaction to SVB, USDC Depegging
Meanwhile, Binance is not alone in considering a move into traditional finance; Kraken has also stated its intention to open a bank. Read more: Kraken eyes own bank amid regulatory scrutiny The collap...
Bitcoin rises to over $21k, as shorts get squeezed out and returns to pre SVB price levels
Bitcoin made a high on March 12, to $21,500, as futures markets prepared to open in the next few hours. Over $100 million of liquidations occurred in the past 24 hours Markets have been net short Bitc...
Assessing Tron CEO Justin Sun’s take on SVB saga and USDC depegging
Justin Sun revealed his thoughts on the USDC depeg and was worried about its impact. TRX bounced courtesy of accumulation during its brief dip into oversold territory. Tron founder and CEO Justin Sun ...
Circle Plans to Cover USDC Shortfall After SVB Shutdown
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...
Dow Jones Futures Loom: FDIC Ready For Monday After SVB Financial Collapse? Watch These Stocks
Dow Jones futures will open Sunday evening, along with S&P 500 futures and Nasdaq futures. The FDIC and other regulators are trying to limit the damage from last week’s collapse of SVB Finan...
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...
Yellen says no government bailout while FDIC auctions SVB assets. Final bids due end of Sunday.
Silicon Valley Bank will not get a government bailout, Treasury Secretary Janet Yellen said on the news program Face the Nation Sunday. The tech industry-driven bank was shut down by regulators ...
What’s next for stocks after SVB collapse and as crucial inflation reading looms
Investors are preparing for the release of a U.S. consumer-price index that may show no meaningful letup in inflation, leaving few safe places to hide just as systemic risks may be growing. Coming jus...
UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse
A plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom, according to multiple reports on March 12. The emergency plan will include ...
Can the UK save its startups as SVB fallout spreads around the world
BOE places the UK arm of the troubled Silicon Valley Bank under insolvency. The heads of 130 technology companies in the UK believe lender’s bankruptcy represents an existential threat to the UK tech ...
Circle Shares an Update on SVB and USDC After SVB Collapse
Circle— a crypto firm, provided a recent update on USDC— a stablecoin, and Silicon Valley Bank (SVB), on March 11th, Saturday. It stated that USDC liquidity operations will resume normally after Monda...
U.S. Treasury Janet Yellen working on SVB collapse, not at bailout: Report
United States Treasury Secretary Janet Yellen is reportedly working with regulators to address Silicon Valley Bank collapse and protect investors, but not considering a major bailout. Yellen made the ...
Ripple’s CTO Guarantees Update on SVB Exposure: Details
Ripple CTO David Schwartz, in response to questions on whether the company had exposure to the collapsed SVB, says an official statement will soon be issued. He refrains from saying anything until a s...
Bill Ackman wants a sanction on SVB executives – Cryptopolitan
Famous billionaire Bill Ackman has waded into the Silicon Valley Bank issues presently being talked about across the United States. Reacting to the news, the billionaire tasked the government with mak...
Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik’s Token Sell-Off Moves Markets, and More — Week in Review – The Weekly Bitcoin News
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals o...
FDIC creates a bank to protect insured SVB depositors
Silicon Valley Bank (SVB), headquartered in Santa Clara, California, was shut down on March 10 by the California Department of Financial Protection and Innovation, which appointed the Federal Deposit ...
Morgan Creek Capital Pleads Government to Bail SVB; Says Analyst
Mr. Whale tweeted that Morgan Creek Capital was a large depositor at SBV. The tweeter added that Anthony Pompliano has been urging the government to bail the bank out. Reports suggest that many banks ...
Bank of England releases update on SVB UK – Cryptopolitan
The Bank of England has ordered a suspension on all activities of the UK branch of the embattled financial institution Silicon Valley Bank. According to the premier financial institution, the bank lac...
From Shanghai to Mumbai, Tech Chiefs Race to Contain SVB Fallout
(Bloomberg) — Asia’s tech leaders, half a world away from the chaos that’s engulfed Silicon Valley, are scrambling to assess the potential ramifications for an industry that’s always relied heav...
Silicon Valley Bank CEO Greg Becker cashed out $2 million just before the collapse
The chief executive of Silicon Valley Bank SIVB, -60.41% cashed out stock and options for a $2.27 million net gain in the weeks before Friday’s collapse, public filings show. CEO Greg Becker exercised...