The FDIC has said that insured depositors would gain access to their assets by Monday while it would pay out advanced dividends to uninsured depositors. Ripple Chief Technology Officer David Schwart...
Tag: SVB
Sen. Warren calls out ‘sham audits’ while SVB threatens crypto bankruptcy
United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects. The PCAOB — a non-profit ove...
Is Circle’s USDC Stablecoin at Risk after the collapse of SVB?
The collapse of Silicon Valley Bank (SVB) on March 10 has sent shockwaves through the crypto industry, leaving many investors concerned about the exposure of major players like Circle, the issuer of t...
USDC Tumbles to $0.93 as Circle Reveals $3.3 Billion Held at SVB, Tether and Binance Not Exposed
Following the second-largest bank collapse in American history on Friday, market participants are worried about which firms might be caught up in the contagion surrounding Silicon Valley Bank (SVB). ...
SVB Depositors, Investors Tried to Pull $42 Billion Thursday
(Bloomberg) — Investors and depositors tried to pull $42 billion from Silicon Valley Bank on Thursday in one of the biggest US bank runs in more than a decade, according to a Friday regulatory f...
SVB Spectacularly Fails After Unthinkable Heresy Becomes Reality
(Bloomberg) — Greg Becker sat in a red armchair at an invite-only conference in Los Angeles last week, legs crossed, one hand cutting through air. Most Read from Bloomberg “We pride ourselves on...
SVB Chief Sold $3.6 Million in Stock Days Before Bank’s Failure
(Bloomberg) — Silicon Valley Bank Chief Executive Officer Greg Becker sold $3.6 million of company stock under a trading plan less than two weeks before the firm disclosed extensive losses that ...
SVB Financial CEO Sold $3.6 Million In Stock Before Bank’s Collapse
Topline The CEO of Silicon Valley Bank Financial sold $3.6 million in stock two weeks before the California banking giant’s epic crash Friday, signaling bank officials might have known the bank was in...
Roku says it ‘does not know’ how much of its cash it will be able to recover from SVB
Streaming platform Roku Inc. ROKU, -0.88% on Friday said it “does not know” to what extent it would be able to recover the cash it has deposited with the recently-failed Silicon Valley Bank. Roku said...
Schwab Has Worst Drop in Years After SVB, Block Trade
(Bloomberg) — The worst two-day stretch since 2016 for Charles Schwab Corp. looks like a case of bad timing for the buyers behind a large block trade in the brokerage. Most Read from Bloomberg S...
SVB collapse highlights $620 billion hole lurking in banks’ balance sheets
Martin Gruenberg could not have picked a more prescient time to flag risks in the U.S. banking industry. On Monday, the chairman of the Federal Deposit Insurance Corporation (FDIC)—the agency that bac...
Time to Hunker Down as SVB Financial Exposes a Growing Number of Naked Swimmers
Some fears of financial contagion crept into the market on Thursday. SVB Financial Group (SIVB) plunged 60% during the trading day and is down big again Friday. SIVB is the parent of Silicon Valley Ba...
What To Know About Silicon Valley Bank’s Collapse—The Biggest Bank Failure Since 2008
Topline Silicon Valley Bank collapsed in spectacular fashion Friday just days after it announced big losses, failing at attempts to raise funds or seek out a buyer, and creating the biggest bank failu...
SVB Contagion Reaches Clients of Payroll Firm Rippling
In a major indicator of Silicon Valley Bank (SVB) contagion spreading, crypto clients of payroll processor Rippling could not pay their employees on Friday. Rippling — one of the top options for crypt...
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...
Signature Bank Considered a Buy as Last Major Bank Standing in Crypto Market Amid Silvergate and SVB Troubles – Bitcoin News
Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” ac...
SVB Shut Down By California Regulator After Bank Stocks Crash Amid Turmoil
Topline Silicon Valley Bank Financial was closed by a California regulator on Friday amid the ailing firm’s attempts to seek a buyer and raise capital—intensifying turmoil that prompted concerns of po...
Firm Seeks Buyer As Banks And Cryptocurrencies Lose Billions Of Dollars In Value
Topline Silicon Valley Bank Financial will explore a sale of the firm after attempts to raise capital earlier in the week were unsuccessful, according to multiple reports, as turmoil with the bank has...
SVB Is in Sale Talks After Capital Raising Failed, CNBC Says
(Bloomberg) — SVB Financial Group is in talks to sell itself after attempts to raise capital amid a bank run failed, CNBC reported. Most Read from Bloomberg Large financial institutions are look...
SVB Shares Halted for Pending News After Sinking Another 69%
(Bloomberg) — SVB Financial Group shares extended their plunge before being halted in premarket trading for pending news as prominent venture capitalists recommended companies withdraw their mon...
SVB Blowout Is Wake-Up Call for Stock Bulls on Banking Risks
(Bloomberg) — Stock market investors just got a harsh reminder about the risks posed by banking industry turmoil. Most Read from Bloomberg US stocks are heading for the worst week of the year af...
Mayhem Reigns in Crypto Market: KuCoin Sued, SVB Scrambles
New York’s Attorney General Letitia James sued KuCoin. Silicon Valley Bank stock plummets after its sale of assets and stocks The White House imposed a 30% tax on mining electricity. Binance CEO Chang...
Is SVB to big to fail? Will it get rescued? Bill Ackman already calling for bail-outs
Quick Take A short timeline on what has happened to Silicon Valley Bank (SVB) and whether there is more contagion coming: SVB saw its deposits explode during the bubble of 2020, from $62 bn at the end...
Banking Selloff Goes Global After SVB Trouble. HSBC, BNP Paribas, UBS Tumble.
The selloff in the banking sector spread across the globe on Friday after SVB Financial Group said it was forced to unload assets at a loss following a decline in deposits. HSBC (ticker: HSBA.UK), Eur...
US Banking System Can Weather SVB Contagion Risk, El-Erian Says
(Bloomberg) — US banks can contain contagion risk and system stress stemming from the turmoil unleashed by Silicon Valley Bank, Mohamed El-Erian said. Most Read from Bloomberg “Contagion risk an...
SoFi CEO Noto makes ‘opportunistic’ million-dollar stock purchase as SVB crisis fuels selloff
As SoFi Technologies Inc. shares fell Friday amid the fallout over Silicon Valley Bank’s collapse, the financial-technology company’s chief executive bought up stock. SoFi Chief Executive Anthony Noto...