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Amid the ongoing United States banking crisis, several major cryptocurrency firms have denied exposure to dissolved U.S. banks like Silicon Valley Bank (SVB).As potential implications of the SVB crisis for the crypto market continue to unfold, Cointelegraph highlighted several major crypto firms that have declared to be unaffected by the
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The report comes amid a series of bank collapses that happened over the past few days. Crypto asset manager BlockTower Capital may be the latest victim of the recent collapse of some major banks across the United States. According to a CoinDesk report, four private funds of BlockTower worth about $940
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“With all of the deposits and substantially all of the assets of former Signature Bank, the bank will continue to take care of its clients, providing a full suite of loan, deposit, and banking services,” said new Signature Bridge Bank CEO, Greg D. Carmichael, in a press release. The release
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FRC and EUL’s price actions underscores how investors' perceptions of market events can be more influential than the actual events themselves. First Republic has not defaulted, gone insolvent or been seized by the government; in fact, it raised $70 billion over the weekend to shore up its liquidity. Meanwhile, Euler
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Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount importance to Circle,” Allaire
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Banks saw their share prices take a rollercoaster ride over the weekend and into March 13. Trading was temporarily halted for dozens of United States regional banks amid volatility and falling prices. The Wall Street Journal reported early in the morning that trading was halted for First Republic Bank, which led
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Since September 2021, the growth in cash assets in small bank balance sheets has turned negative. Original Source
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Hot on the heels of several United States bank collapses, the Federal Reserve Board has announced $25 billion worth of funding aimed at backstopping banks and other depository firms.The funds would ensure that eligible banks would have enough liquidity to cover the needs of their customers during times of turmoil.@federalreserve
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Global clearing institution Bank of London has submitted a formal proposal to acquire the Silicon Valley Bank's subsidiary in the United Kingdom, according to a statement disclosed by Reuters on March 12. As per the statement, the purchase is an effort from a consortium of private equity firms:"A consortium of leading
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