State California Financial News

12.03 / 12:13

business Adoption Investments Venture Capital Banks Silicon Valley SOLIDARITY Over 100 VCs, investors voice solidarity with Silicon Valley Bank

As the 40-year-old banking institution, Silicon Valley Bank (SVB), winds down operation, numerous venture capitalists and investors joined hands and decided to cushion the impact in case the bank “were to be purchased and appropriately capitalized.”

12.03 / 06:13

business Banks Federal Reserve Silicon Valley Bank failure could trigger run on U.S. regional banks

Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions concerning the future of Silicon Valley Bank may affect regional banks across the United States, putting trillions of dollars at risk of a bank run, said former Bridgewater executive and CEO of investment firm Unlimited Bob Elliot.

12.03 / 04:53

regulation Venture Capital Bank of England Silicon Valley Startups Silicon Valley Bank's UK branch shut down by Bank of England

The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” and no “critical functions” supporting the financial system in the United Kingdom (UK).

12.03 / 04:37

Lowe's Low jobless claims U.S. Jobless Claims Jump but Remain Historically Low

Worker filings for U.S. unemployment benefits jumped last week due to increases in New York and California but remained historically low, as demand for labor outstrips the number of people looking for work.

12.03 / 01:39

CEO SVB Takeover Silicon Valley Bank employees received bonuses hours before government takeover

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12.03 / 00:47

COST UPS Provident Digital SVB Etsy warns sellers of delay in processing payments due to Silicon Valley Bank collapse

Etsy is warning sellers that the collapse of Silicon Valley Bank on Friday is causing delays in processing payments, according to an email from the company shared with NBC News.

12.03 / 00:11

business Stablecoin Altcoin Circle Usd Coin Circle plans to cover missing liquidity in Silicon Valley Bank with corporate funds

USD Coin (USDC) issuer Circle plans to use "corporate resources" to cover the shortfall on its reserves following Silicon Valley Bank's shutdown, said the company in a statement on March 11.

11.03 / 23:21

business Blockchain defi Aave Circle surges CEXs Aave freezes stablecoin trading on Avalanche V3 as activity surges on CEXs

Lending protocol Aave has frozen stablecoins trading and set Loan-to-Value (LTV) ratio to zero in response to recent price volatility on stablecoins after the USD Coin depegged on March 11.

11.03 / 21:29

business Stablecoin defi Circle Usd Coin Binance USD Curve Finance trading volume reaches $7B historic high after USDC depeg

Stablecoin swapping pool Curve Finance is experiencing the highest daily trading volume in its history, exceeding $7 billion in the past 24 hours after the Silicon Valley Bank (SVB) collapse triggered a wave of uncertainty across markets and depegged the USD Coin (USDC) from the U.S. dollar.

11.03 / 21:19

Fallout SVB ‘We need a plan for Monday’: UK authorities scramble to stem Silicon Valley Bank fallout

On 10 March, Silicon Valley Bank's UK boss Erin Platts told a Zoom call with investors the bank was "doing the best that it can" to support them.

11.03 / 20:53

business Blockchain Venture Capital Sky Mavis Failed tech bank SVB held over $5B for prominent crypto VCs: Report

According to a report that began circulating on March 11 in the aftermath of the collapse of Silicon Valley Bank (SVB), prominent blockchain venture capitalists (VCs) have over $6 billion worth of assets held by the now-defunct financial entity. These include $2.85 billion from Andreessen Horowitz (a16z), $1.72 billion from Paradigm and $560 million from Pantera Capital.

11.03 / 19:41

Stablecoin Circle USDC Bankruptcy Usd Coin USDC Depeg: Circle's $43 Billion Stablecoin in the Spotlight as Silicon Valley Bank Exposure is Revealed – Here's the Latest

The USD Coin (USDC) stablecoin has distanced away from its intended $1 peg following the revelation that Circle has exposure to the now-collapsed Silicon Valley Bank.

11.03 / 18:01

Jobs Report, Bank Failure Complicate Outlook on Interest Rates

The February employment report does little to sharply alter the economic outlook for Federal Reserve officials who are considering how much to raise interest rates at their coming meeting.

11.03 / 15:29

XRP XRP/USD XRP Ripple XRP Price Prediction xrp price XRP Price Prediction as $1.5 Billion Trading Volume Comes In – Are Whales Buying?

The sixth-largest crypto is hanging at the very edge of a cliff as uncertainties in the market mount, especially from the United States. Despite the total market cap sliding below the $1 trillion mark to stand at $963 billion on Saturday, XRP price is relatively unchanged in 24 hours but trading at $0.3691.

11.03 / 14:57

UPS Ethereum Tether USDT coinbase SVB Bitcoin USDC stablecoin How USDC Stablecoin Depegging Could Break Many Crypto Firms But Bitcoin Will be Stronger

USDC stablecoin is depegging – and at an alarming rate – falling to as low as $0.89, way off its $1 peg.

11.03 / 14:35

BTC Action CryptoQuant SVB Silver fall Bitcoin: Fall of Silicon Valley Bank might be a silver lining for BTC, here’s why

Fear, uncertainty, and doubt (FUD) about Bitcoin stemming from the collapse of a single bank contributed to its downward trend earlier this week.

11.03 / 14:09

Lowe's Low jobless claims U.S. Jobless Claims Jump but Remain Historically Low

11.03 / 12:37

UPS Binance Tether Bankrupt crypto Bankrupt crypto lender BlockFi reveals $227M exposure to Silicon Valley Bank

Bankrupt crypto lender BlockFi has made headlines with its latest bankruptcy filing, revealing that it has $227 million invested in a money market mutual fund offered by Silicon Valley Bank (SVB).

11.03 / 07:15

business Stablecoin regulation Circle Banks Usd Coin Circle discloses $3.3B tied up at Silicon Valley Bank

On March 10, Blockchain payment technology company Circle confirmed that wires initiated on Thursday to remove balances have not yet been processed, leaving $3.3 billion of its $40 billion USDC reserves at Silicon Valley Bank (SVB).

11.03 / 04:45

business lending Banks banking Silicon Valley Bankruptcy Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF

According to a new bankruptcy filing, defunct crypto lender BlockFi has $227 million worth of uninsured funds allocated to a money market mutual fund (MMMF) offered by troubled Silicon Valley Bank (SVB).

11.03 / 01:17

markets Federal Reserve Silicon Valley Bitcoin Bitcoin Price gone $920B is the number to watch now that crypto’s trillion dollar total market cap is gone

Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative 8.6% price movement, the indicator fell to $914 billion, its lowest level since Jan.13.

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