Signature Bank board member says regulators shut down the bank to send “a strong anti-crypto message.” According to a recent report, a board member of Signature Bank, a New York-based commercial bank, has suggested that the recent regulatory action taken against the bank was motivated by a desire to send “a strong anti-crypto message.” The […]
- Mar 14, 2023 at 1:59 am
It's important to note that investing in cryptocurrency can be risky and volatile. Before investing, do your research, and only invest what you can afford to lose. It's also a good idea to consult with a financial advisor before making any investment decisions.
- Mar 14, 2023 at 1:13 am
US government to make announcement on Silicon Valley Bank to prevent further fallout. The US government is expected to make an announcement regarding Silicon Valley Bank (SVB) in order to prevent any further fallout from its widespread failure. SVB’s sudden collapse has sent shockwaves through the financial industry, and many are concerned about the potential […]
- Mar 13, 2023 at 2:51 am
US regulators have closed Signature Bank due to potential "systemic risk," following the failure of Silicon Valley Bank. Signature Bank is a major player in the crypto industry with over $110 billion in assets and $88.6 billion in deposits, and its closure may have been influenced by previous reports of unrealized losses for US banks. This news emphasizes the risks in the banking and crypto industries and highlights the need for regulation to ensure stability.
- Mar 13, 2023 at 1:27 am
The Bank of London has submitted an official bid to purchase the UK subsidiary of Silicon Valley Bank, according to a Reuters report. The bid was made on behalf of a consortium of private equity firms, with the Bank of London leading the group. This comes as the FDIC is executing an official auction for […]
- Mar 12, 2023 at 10:05 pm
Silicon Valley Bank's closure by California regulators last week and the subsequent deactivation of its Twitter account have caused panic in the financial sector. The bank's ranking on Forbes' annual list of America's Best Banks for the fifth consecutive year seems ironic in light of its current situation. SVB is reportedly seeking a potential sale amidst its closure, and The Bank of London is currently the only financial institution to have made a public proposal for the purchase of the bank's UK arm. The collapse of SVB, the largest bank failure since the 2008 financial crisis, underscores the need for caution and vigilance in the financial industry.
- Mar 12, 2023 at 9:44 pm
Curve Finance, a decentralized finance (DeFi) protocol, has experienced a significant drop in its USDC stablecoin pool, with traders reportedly fleeing the platform in droves.
- Mar 12, 2023 at 10:19 am
The USD Coin (USDC) has fallen below $0.90, signaling a sharp depegging from the US dollar, due to Circle's exposure to Silicon Valley Bank, which recently collapsed. Circle confirmed it had $3.3 billion at the bank as it could not withdraw its balances in time. The cryptocurrency exchanges Binance and Coinbase have temporarily halted conversions involving USDC, with Coinbase announcing a pause in conversions of USDC:USD over the weekend. While not as impactful as a Tether (USDT) collapse, the USDC depegging highlights the vulnerability of stablecoins to banking issues. Bitcoin and Ethereum also struggle with selloff pressure near $20,000 and $1,400, respectively.
- Mar 11, 2023 at 8:21 pm
Musk's interest in SVB is also a reflection of the growing importance of the tech industry in the financial world. With more and more tech companies entering the financial sector and offering new products and services.
- Mar 11, 2023 at 10:11 am