United States Financial News

12.03 / 18:03

business regulation Banks NOT U.S. Treasury Janet Yellen working on SVB collapse, not at bailout: Report

United States Treasury Secretary Janet Yellen is reportedly working with regulators to address Silicon Valley Bank collapse and protect investors, but not considering a major bailout.

12.03 / 09:23

regulation Silicon Valley Bill Ackman warns US gov't: Fix mistake in ‘48 hours’ or face ‘destruction’

Billionaire Bill Ackman has urged the United States government to “guarantee” all Silicon Valley Bank's (SVB)'s deposits within the next “48 hours,” or it risks the “destruction” of many financial institutions.

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 / 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 / 18:51

Adoption Altcoin Circle Banks Bitcoin Banks down? That is why Bitcoin was created, crypto community says

Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community, leading many to come back to crypto roots, reviving the Bitcoin white paper published just weeks after the Lehman Brothers meltdown in 2008.

11.03 / 11:05

business regulation Senate Sen. Warren calls out 'sham audits' while SVB threatens crypto bankruptcy

United States Senators Elizabeth Warren and Ron Wyden asked the Public Company Accounting Oversight Board (PCAOB) to hold auditors accountable for failed crypto projects.

11.03 / 08:31

business Stablecoin regulation Circle Banks Usd Coin USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank

Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from Silicon Valley Bank (SVB), the resultant sell-off caused the price of the stablecoin to fall below its $1 mark.

11.03 / 00:37

business Stablecoin regulation Circle Banks Circle's exposure to U.S. banks could top $9B

USD Coin (USDC) issuer Circle exposure to the United States banking system sits near to $9 billion, according to its latest audit report from January. Circle's reserves are held in a number of regulated financial institutions in the country, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon.

10.03 / 23:11

Law regulation Fiat Money South Dakota gov vetoes bill excluding crypto from definition of 'money'

Kristi Noem, the governor of South Dakota, has used her authority to veto legislation aimed at changing the definition of money to exclude cryptocurrencies.

10.03 / 15:39

Law regulation FTX Court lawsuits Judge mulls removing Shaq and Naomi Osaka from FTX lawsuits

A federal judge in Florida, United States, is considering dismissing former NBA superstar Shaquille O’Neal and tennis athlete Naomi Osaka from the FTX lawsuit, pointing out that it’s unclear whether the two had been served.

10.03 / 11:29

business regulation SEC Rapper The Game’s crypto startup gets registration revoked

A crypto startup backed by the American rapper Jayceon Terrell Taylor, better known as “The Game,” had its registration revoked by the United States Securities and Exchange Commission (SEC) for violating securities laws after failing to file periodic reports.

10.03 / 11:03

business Binance regulation Court Bankruptcy U.S. Deal US Trustee appeals NY Judge’s approval of Voyager deal with Binance.US

The United States Department of Justice (DOJ) has filed an appeal against the latest decision in the case for the selling of assets between Voyager Digital and Binance.US.

10.03 / 08:49

Stablecoin regulation economy Federal Reserve Financial Systems US Fed to create new crypto team amid concerns about unregulated stablecoins

The United States Federal Reserve is set to create a “specialized team of experts” to keep up with developments in the cryptocurrency industry, according to a Fed official, amid concerns from the Fed of “unregulated” stablecoins.

10.03 / 01:51

Mining regulation Taxes Electricity Biden budget proposes 30% tax on crypto mining electricity usage

A phased-in 30% tax on cryptocurrency mining electricity costs has been proposed by United States president Joe Biden in his administration's 2024 fiscal year budget.

10.03 / 00:49

business Adoption regulation Banks exit Crypto industry braces for impact with Silvergate exit

Silvergate is not a systematic risk for the United States banking system, but it could have a significant impact on the crypto markets, multiple sources told Cointelegraph. These may include increasing banking concentration in a few partners and challenges for venture capital firms seeking to establish banking relationships in the country.

09.03 / 22:05

regulation Congress House Republicans House Republicans directly criticize Biden administration for digital asset policies

Statements from Republican lawmakers ahead of the inaugural hearing of the United States House of Representatives subcommittee focused on digital assets, financial technology and inclusion suggest partisan divides on crypto regulation.

09.03 / 19:33

regulation sanctions US REPO task force names crypto as target in efforts involving $58B in sanctioned assets

The United States Treasury has announced deputies of the multilateral Russian Elites, Proxies, and Oligarchs, or REPO, Task Force have targeted crypto in Russian entities’ attempts to evade sanctions.

09.03 / 15:15

business FTX Bankruptcy Alameda Research to sell interest in Sequoia Capital for $45M to Abu Dhabi

The latest update in the FTX bankruptcy case comes as a new deal was struck between the defunct cryptocurrency exchange and Abu Dhabi.

09.03 / 11:45

Law regulation FTX class action Judge refuses to consolidate class action suits against FTX

A federal judge has refused to consolidate a number of proposed class-action lawsuits against the FTX exchange by investors. According to the judge, the exchange and its defendants have not yet been heard on the matter.

09.03 / 09:09

business Binance regulation coinbase Banks swift debate Silvergate downfall sparks debate over whose fault it actually was

The voluntary liquidation of crypto-friendly bank Silvergate has sparked many to share their thoughts about the source of its troubles and the broader impact of the bank’s collapse on crypto.

09.03 / 07:19

Ethereum Stablecoin CFTC SEC Tether security Stablecoins and Ether are ‘going to be commodities,’ reaffirms CFTC chair

Stablecoins and Ether (ETH) are commodities and should come under the purview of the United States Commodity Futures Trading Commission (CFTC), its chairman has again asserted at a recent Senate hearing.

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