Balancer Depositors Pull Nearly $100M in Crypto After Vulnerability Warning
Ethereum-based DeFi major Balancer learned of a "critical vulnerability" that imperils a slice of the protocol's user-deposited crypto. Original Source
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Depositors
Circle and Sequoia were among top depositors at Silicon Valley Bank: Report
Stablecoin issuer Circle and venture capital firm Sequoia Capital were reportedly among the top 10 depositors at the collapsed crypto-friendly Silicon Valley Bank (SVB) in March.According to a June 23 report from Bloomberg, the Federal Deposit Insurance Corporation (FDIC) provided documents suggesting that Circle, Sequoia and others were covered for
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Outraged Lebanese Depositors Continue to Riot Against Financial Institutions – Bitcoin News
Amid Lebanon’s financial crisis, significant demonstrations have erupted in Beirut targeting financial institutions. Outraged Lebanese depositors, witnessing their savings vanish, have resorted to smashing bank windows, setting fires, and engaging in riots. Simultaneously, leaders of Lebanon’s central bank face grave allegations of fraud, embezzlement, and political corruption. Lebanese Citizens Left Penniless
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FDIC Gives Deadline Next Week for Crypto Depositors Stranded by Signature Failure
The FDIC has been reaching out to customers connected to the money, encouraging them to find another bank to transfer the funds to. If they can’t, they’ll be getting a check to whatever address is on record for the customer, the spokesperson said. Source
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Binance Depositors Flee Following CFTC Charges, On-Chain Data Shows
In the last 24 hours, Binance has seen a net outflow of $400 million on Ethereum, according to blockchain analytics firm Nansen. This compares to a net flow of $2 billion over the past seven days. Savvy traders who Nansen considers “smart money” operators have also removed $9 million over
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Why isn’t the Federal Reserve requiring banks to hold depositors’ cash?
The Federal Reserve Board reduced banking reserve requirements to zero in March 2020. Since that time, banks in the United States have not been required to actually hold any depositor money in the bank, making a flawed system — fractional reserve banking — worse. With Silvergate Bank, Silicon Valley Bank and
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Biden pledges ‘no cost to the taxpayer’ to shield SVB, Signature depositors
The overnight collapse of two major traditional banks — Silicon Valley Bank (SVB) and Signature Bank — triggered a series of events that impacted millions of businesses, venture capitalists and bottom-line investors alike. However, US President Joe Biden assured that no American taxpayer would feel the burn as the federal
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Bitcoin and Ether Price Jumps Over 9% as Fed and FDIC Come at SVB Depositors’ Rescue
The Fed and the FDIC have assured depositors that they could withdraw money from Silicon Valley Bank thereby instilling some confidence among crypto investors. In the early trading hours on Monday, March 13, the broader cryptocurrency market made a strong comeback surging past $1 trillion levels once again. This surprise
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NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout – Bitcoin News
On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that
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Silicon Valley Bank Depositors Will Have Access to “All” Funds Monday, Say Federal Regulators
“After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa Clara, California, in a manner that fully protects all depositors,” Secretary of the Treasury Janet
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