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While not perceived as “crypto-friendly” as Silvergate, the tech-forward Silicon Valley Bank did count a number of crypto entities as clients – especially hedge funds and VC firms. According to CryptoX research, Blockchain Capital, Castle Island Ventures, Dragonfly and Pantera all had relationships with the bank. Source
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Every U.S. bank is facing similar structural pressures to what drove crypto’s one-time favorite bank to the moon - then into the ground. Original Source
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Silicon Valley Bank, a major financial institution for venture-backed companies, was shut down by California’s financial watchdog on March 10 — marking the first Federal Deposit Insurance Corporation-insured bank to fail in 2023. The California Department of Financial Protection and Innovation confirmed that Silicon Valley Bank was ordered to close but
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As Silicon Valley Bank fails to reassure customers of its financial state, crypto-focused venture capital investors urge the firms to remove assets from the bank. Both stock and crypto markets are in the red, causing panic among traders. The announcement follows a dramatic decrease in the shares of SVB Financial Group, the
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Pressure on the U.S. banking system is questioning whether the Fed can push ahead with such an aggressive tightening cycle, analysts at ING said. Source
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Silicon Valley Bank operating as SVB Financial Group is seeing the worst of its days with its share price plunging by 23.52% in the Pre-Market, following a massive slump of 60.41% on Thursday. Considering the massive selloff in the bank’s stock, SVB Financial Group (NASDAQ: SIVB) is now changing hands at
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Crypto venture capital firms advised their portfolio companies to pull their investments from American commercial bank Silicon Valley Bank (SVB). Specifically, five crypto-focused venture capital investors have urged portfolio companies to withdraw their funds from the banks as a precaution. This comes as Silicon Valley Bank Financial Group (NASDAQ: SVB)
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During a Wall Street Journal event, Microsoft gaming chief Phil Spencer and Snap CEO Evan Spiegel revealed that they are not big fans of the metaverse in its current form.Spencer called the metaverse’s current iteration a “poorly built video game,” referring to the ecosystem’s bad graphics and low-quality interfaces.The Microsoft
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Bitcoin Valley, the first bitcoin city in Honduras, has launched in Santa Lucia. Businesses in the area will accept bitcoin for payments. “In Santa Lucia, we are all going to participate in this project … Accepting bitcoin will open us to another market and win more customers,” said a local
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A small tourist town in Honduras has begun accepting Bitcoin payments as part of the “Bitcoin Valley” initiative designed to increase tourism revenue across 60 local businesses.Some locals of Santa Lucia, like shopping mall owner Cesar Andino, expect the initiative to open up more opportunities for shops in the area
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