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The venture capital industry appears to be gearing up for portfolio rebalancing in 2024, with investors positioning themselves to increase exposure to digital assets in the next bull market. Blockchain Capital, for instance, closed two new funds this week, with $580 million in capital to be deployed in crypto gaming
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Bitcoin (BTC) starts a new week with traders licking their wounds after a 10% snap crash.BTC price action is struggling to recover from a manic end to the days prior to the weekend, and the fear is palpable going into what could turn out to be an equally volatile few
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied A recent report by Bloomberg states that Circle, the issuer of the USDC stablecoin, emerged as a primary recipient of support from the government-backed rescue of Silicon Valley Bank (SVB). According to the information acquired from the
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Circle Internet Financial, which said at the time it had $3.3 billion in holdings at the bank, was followed in the list of top depositors by units of the bank itself, and then by tech-focused venture capital firm Sequoia with just over $1 billion, according to documents sent by the
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The HSBC Innovation Banking unit has more than 650 employees in the UK, over 40 members in the U.S., and hiring more in Hong Kong and Tel Aviv. HSBC Holdings PLC ADR (NYSE: HSBC), a British universal bank and financial services group with more than $10 trillion in assets under custody
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Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigating the so-called “mutual backscratching arrangements” alleged to have taken place with the now-failed Silicon Valley Bank (SVB).On April 9, letters from Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez (AOC)
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A fortnight after the newly appointed Silicon Valley Bank (SVB) chief executive officer (CEO) cheered customers to return funds to the bank, the Federal Deposit Insurance Corporation (FDIC) has reportedly sent emails informing customers that their funds were in receivership. Mayopolous woos depositors Developments emanating from the embattled SVB, after Mayopolous’ advice, have
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Michael Barr, vice chair for supervision at the Federal Reserve, says that SVB’s deposits were in major trouble on the day regulators seized and took control over the bank. Earlier this month, the downfall of the Silicon Valley Bank (SVB) sent shockwaves across the US banking sector. The bank struggled
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A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country’s central bank has said. In addition, the governor said the Central Bank of Nigeria’s stringent guidelines help to create a “very safe” banking system. Priority
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United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch.In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there
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