Banks Financial News

17.03 / 20:13

business Blockchain regulation Banks Central Bank banking Bitcoin Banking crisis: What does it mean for crypto?

Last week’s rapid collapse of Silvergate, Silicon Vallley Bank and Signature Bank have highlighted the fragility of the traditional banking sector while depriving crypto of the main fiat on-ramp points in the U.S.

17.03 / 19:57

business Banks Federal Reserve Central Bank banking Credit Suisse Let First Republic and Credit Suisse burn

When crypto markets took a hit after the collapse of FTX and other crypto lenders last year, some crypto critics repeated the mantra, “Let crypto burn.” Now, it’s big banks that are faltering — including Credit Suisse and First Republic — after regional banks, including Signature Bank and Silicon Valley Bank, sparked a cascade. As a result, Moody’s has downgraded the entire banking sector.

17.03 / 07:59

Ethereum Stablecoin Adoption Trading Banks Marketplace Usd Coin SVB collapse chilled NFT trading volumes: DappRadar

Nonfungible token (NFT) trading volumes took a massive beating following the collapse of Silicon Valley Bank (SVB) last week as traders fled the markets fearing the repercussions of a major United States bank going under.

17.03 / 05:29

business Stablecoin coinbase Banks data Crypto users Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash

The collapse of Silicon Valley Bank (SVB) saw investors loading their bags with USD Coin (USDC), along with an exodus of funds from centralized exchanges (CEXs) to decentralized exchanges (DEXs).

17.03 / 00:07

markets Stablecoin Banks Federal Reserve Derivatives Silvergate Bitcoin Bears Bitcoin bears could face $440M loss in Friday's options expiry

The rejection that followed Bitcoin's (BTC) rally to $26,500 may appear to be a victory for bears, but $24,750 on March 14 was the highest daily close in nine months. Furthermore, Bitcoin has gained 26.5% since March 10, when the California Department of Financial Protection and Innovation shut down Silicon Valley Bank (SVB).

16.03 / 20:05

regulation Banks Federal Reserve Blockchain Association seeks info from Fed, FDIC, and OCC on 'de-banking' crypto firms

The United States-based crypto advocacy group Blockchain Association called on financial regulators to provide information related to the potential “de-banking of crypto firms” in the wake of the failures of banks including Signature, Silicon Valley Bank, and Silvergate.

16.03 / 17:15

defi regulation Banks Central Bank Financial Services Bitcoin 9 key metrics to analyze the health of a bank

A bank health check is a comprehensive assessment of a bank’s financial condition, performance and risk management practices. It is conducted by banking regulators or independent auditors to evaluate the bank’s ability to withstand adverse economic conditions and potential risks, including credit risk, market risk, liquidity risk and funding risk.

16.03 / 15:11

markets Bitcoin Futures Banks Credit Suisse Bitcoin Bitcoin Price Returns Bitcoin returns to $25K as Credit Suisse bailout precedes EU rate hike move

Bitcoin (BTC) rebounded for a fresh challenge of $25,000 on March 16 ahead of a key interest rate decision in Europe.

16.03 / 07:49

business Banks Federal Reserve Gold Interest rates Bitcoin Time US credit crunch means it’s time to buy gold and Bitcoin: Novogratz

The United States is headed for a credit crunch and now is the right time to buy gold, silver and Bitcoin (BTC), says Galaxy Digital founder and CEO Michael Novogratz.

16.03 / 06:27

CBDC Payments regulation Banks Federal Reserve banking Reserve Federal Reserve confirms July launch for FedNow instant payment service

The United States Federal Reserve has confirmed a July launch date for its long-awaited instant payments system, seen by some as an alternative to central bank digital currencies (CBDCs) and stablecoins.

16.03 / 02:43

markets business Banks Federal Reserve Central Bank Silicon Valley Blame traditional finance for the collapse of Silicon Valley Bank

The entire banking concept is based on the assumption that depositors will not want to withdraw their money at the same time. But what happens when this assumption fails? The answer lies in the asset-liability mismatch of banks, which can lead to disastrous consequences for the broader financial system.

16.03 / 01:03

business Banks Signature Bank collapses Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White

In the wake of three major banks with ties to crypto firms collapsing, software engineer Molly White believes companies now looking at banking options may have to face “shadier” solutions.

15.03 / 22:23

markets business Banks Federal Reserve Central Bank Silicon Valley Reserve Why isn't the Federal Reserve requiring banks to hold depositors' cash?

The Federal Reserve Board reduced banking reserve requirements to zero in March 2020. Since that time, banks in the United States have not been required to actually hold any depositor money in the bank, making a flawed system — fractional reserve banking — worse.

15.03 / 17:59

business Blockchain Technology Banks Tech ‘AI can be defeated with cryptography,’ says Chelsea Manning at SXSW

Artificial intelligence (AI) has become a hot topic following the launch of ChatGPT, an AI chatbot created by research company OpenAI. Yet, while ChatGPT has the potential to write blogs and create crypto trading bots, some worry that AI could be harmful.

15.03 / 07:51

business regulation coinbase Banks Volatility Crypto.com regulatory Crypto bank Anchorage Digital cuts 20% of staff citing regulatory uncertainty

Crypto bank Anchorage Digital announced it would be letting go of 75 employees, representing approximately 20% of its workforce, citing regulatory uncertainty in the United States as a factor in its decision.

15.03 / 05:25

regulation SEC Department Of Justice Banks DOJ and SEC to probe SVB collapse and insider stock sales: Report

The United States Justice Department and the Securities Exchange Commission (SEC) have reportedly launched inquiries into the sudden collapse of Silicon Valley Bank (SVB) — which was shuttered by regulators last week amid a historic bank run.

14.03 / 23:53

business Banks NOT Signature Bank regulator says it was closed for not providing data: Report

The New York Department of Financial Services (NYDFS) shut down Signature Bank for “failing to provide consistent and reliable data” and not because of a bias against crypto, according to a March 14 report from the International Business Times. Signature Bank Board Member Barney Frank had previously accused the regulatory agency of shutting it down merely to “send a very strong anti-crypto message.”

14.03 / 23:25

markets business Blockchain Fraud Banks banking Signature Bank and former executives sued by shareholders for alleged fraud

On March 14, a class action lawsuit was filed against the recently shut down crypto-friendly, New York-based Signature Bank, and its former chief executive office, Joseph DePaolo, chief financial officer, Stephen Wyremski, and chief operating officer, Eric Howell, for allegedly committing fraud Reuters reported.

14.03 / 19:39

markets business Banks Central Bank banking Silicon Valley Silicon Valley Bank was the tip of a banking iceberg

Traditional financial institutions take deposits from customers and use them to make loans. But they loan out much more than what they have in store at a given point in time — a concept known as fractional banking. On one hand, the difference between the interest on the loans and the interest paid to depositors is referred to as the net interest margin and determines a bank’s profitability. On the other hand, the difference between the assets and liabilities is referred to as their equity and determines the bank’s resilience to external shocks.

14.03 / 18:23

business Banks banking SVB Silvergate Signature Bank SVB and Silvergate are out, but major banks are still backing crypto firms

Over the last week, the collapse of three of the largest banks backing the crypto scene — Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank — has many industry pundits wondering how United States-based crypto companies will fare after such losses.

14.03 / 09:39

Blockchain Stablecoin Banks data Silicon Valley Usd Coin Debtors saved over $100M using de-pegged stablecoins to repay loans

The depegging of USD Coin (USDC) and Dai (DAI) from the United States dollar prompted a frenzy of loan repayments over the weekend, allowing debtors to save a total of more than $100 million on their loans.

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