Silicon Valley Bank collapse: Everything that’s happened until now
Events surrounding Silicon Valley Bank are moving fast. Here is
Read More
Collapse
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 a cash lifeline to a number of businesses. Prime Minister Rishi Sunak said the government is working "at
Read More
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 comments during an interview with CBS News on March 12, claiming that regulators are designing "appropriate policies to address the situation" at
Read More
‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion – Bitcoin News
Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused
Read More
Crypto whales suffer huge losses due to USDC depeg, SVB collapse
In response to the extraordinary depegging event of the USD Coin stablecoin caused by the collapse of its counterparty Silicon Valley Bank (SVB), crypto whales have reported severe losses and appear to have embarked on a series of capital flight to protect assets. Du Jun, co-founder of cryptocurrency exchange Huobi
Read More
U.S. Lawmakers Met With Fed, FDIC to Discuss Collapse of Silicon Valley Bank: Source
"I am alarmed by the failure of Silicon Valley Bank, which marks the second largest bank failure in U.S. history," she said in a statement. "I am closely monitoring and convening Committee members with regulators so myself and members can understand the latest around the closure of Silicon Valley Bank
Read More
USDC Issuer Circle Says it ‘Awaits Clarity’ From FDIC on Silicon Valley Bank Collapse
USDC issuer Circle Internet Financial said late Friday it "awaits clarity" from federal banking regulators on the status of its deposits at Silicon Valley Bank, one of the six financial institutions it said are responsible for managing one quarter of the assets backing its $43 billion stablecoin. Original Source
Read More
How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout
In the end, Silvergate Bank didn’t survive. But its executives were able to avoid taking government assistance. Silvergate Capital’s share price is down 83% since March 1, the day the bank said it was unable to file its annual report. But with shareholders taking the hit – not depositors or
Read More
What does the Silvergate collapse mean for crypto?
The collapse of crypto-friendly bank Silvergate will likley have a significant impact on the crypto ecosystem and its ties with the banking sector in the U.S. Earlier this week, the parent company of Silvergate Bank announced plans to wind down operations and liquidate the bank. The announcement came after the crypto-friendly
Read More
Bitcoin slips under $20K amid Biden budget, Silvergate collapse
Bitcoin (BTC) briefly slipped below $20,000 for the first time in nearly two months, following the latest budget from United States President Joe Biden and the collapse of “crypto-bank” Silvergate.The price of BTC dipped to $19,945 on March 10 before recovering to hover just above $20,000, according to data from
Read More