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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 Silvergate and Silicon Valley Bank collapses.Digital asset investment products registered $255 million in outflows for the week ending March 12, marking the
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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. 17, Vara, a Department of Justice official responsible for bankruptcy matters, urged the lender to shift the
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Shares of First Republic Bank (FRC) have been in the red for the past year, shedding more than 48% in the last twelve months. The shares of American foreign exchange company First Republic Bank (NYSE: FRC) plunged over 60% in pre-market trading due to investors’ worries about its financial strength.
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“Our team are working very hard on alternative channels and solutions in real-time,” OKCoin CEO Hong Fang tweeted. “We've been through much worse times since our inception. If this weekend has told us anything, it's the significance of the future that we are building.” Source
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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 Mar. 12, the New York District of Financial Services (NYDFS) took possession of crypto-friendly Signature Bank. The Federal Reserve
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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 SVB, Garlinghouse said, but “we expect NO disruption to our day-to-day business, and already held a majority of our USD
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Events surrounding Silicon Valley Bank are moving fast. Here is
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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 a cash lifeline to a number of businesses. Prime Minister Rishi Sunak said the government is working "at
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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 comments during an interview with CBS News on March 12, claiming that regulators are designing "appropriate policies to address the situation" at
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