Banks Financial News

14.03 / 04:43

business Banks banking Silicon Valley FDIC to attempt another auction of Silicon Valley Bank: Report

Silicon Valley Bank (SVB) could be returning to the auction block with United States regulators taking a second attempt at finding a buyer for the now-collapsed bank.

14.03 / 02:35

business Blockchain Technology us government Banks banking Digital Asset Marathon Marathon Digital: Deposits held at Signature Bank are secure and available

Crypto mining firm Marathon Digital Holdings has assured investors that the firm's cash deposits at Signature Bank are secure and available for use as of Mar. 13.

14.03 / 02:35

Stablecoin defi Banks Central Bank banking Silicon Valley NOT USDC depegged, but it's not going to default

Over the past week, investors understandably became concerned over the news that billions of dollars backing USD Coin (USDC) — the second-largest stablecoin — were locked up in the distressed Silicon Valley Bank (SVB). The market reacted violently, causing USDC to lose its dollar peg. But while the concern was understandable, it has become clear that USDC creator Circle will regain full access to its funds. The crypto community can breathe easily.

14.03 / 01:11

business Stablecoin Circle Banks TradFi NOT Recent contagion was 'TradFi to crypto' and not vice versa — Circle policy director

Caroline Hill, the director of global policy and regulatory strategy for stablecoin issuer Circle, has placed some of the blame from the recent collapse of banks tied to crypto on traditional financial institutions rather than digital assets.

13.03 / 23:27

business Banks banking US banks experience volatility and trading halts amid bank failures and presidential assurances

Banks saw their share prices take a rollercoaster ride over the weekend and into March 13. Trading was temporarily halted for dozens of United States regional banks amid volatility and falling prices.

13.03 / 22:43

business Blockchain Investments Banks banking FinTech Bankruptcy BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report

According to a lawyer representing the bankrupt crypto lender BlockFi Inc.,the company is in a stable financial position with access to ample cash reserves, despite having over $200 million in exposure to Silicon Valley Bank, Bloomberg reported.

13.03 / 21:49

Law regulation Fraud Banks Silicon Valley Shareholders file lawsuit against Silicon Valley Bank, alleging fraud: Report

A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis.

13.03 / 18:05

markets Banks Federal Reserve Central Bank ECB Bitcoin Bitcoin Price analyst US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst call SVB dip 'bear trap'

Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history.

13.03 / 17:49

Stablecoin Adoption regulation Banks Crypto industry may escape lasting damage from Silvergate liquidation

Banks are the lifeblood of a nation’s economic system, and any bank collapse is disturbing. Last week saw two failures. On March 8, Silvergate Capital — the cryptocurrency-focused banking company — entered into voluntary liquidation. On March 10, United States regulators shut down and seized the deposits of tech-oriented Silicon Valley Bank in what was being called the second-largest bank failure in U.S. history. Both California institutions were victims of bank deposit runs.

13.03 / 17:49

business regulation Banks Forbes banking Silicon Valley Bankruptcy Silicon Valley Bank collapse: How SVB stock price performed in 5 years

Silicon Valley Bank (SVB) has suffered a significant fall from grace following half a decade of being rated as one of the best banks in the United States.

13.03 / 15:07

business Government Stablecoin Banks banking Usd Coin BNY Circle taps Cross River as banking partner, expands ties with BNY Mellon

Circle has revealed that Cross River Bank — recognized for its services to fintech and crypto firms like Visa and Coinbase — is now its new commercial banking partner for producing and redeeming USD Coin (USDC).

13.03 / 13:27

markets Banks Federal Reserve Interest rates Bankruptcy Usd Coin Bitcoin week Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week

Bitcoin (BTC) begins a new week with a bullish surge above $22,000 as the Federal Reserve injects liquidity into the United States economy.

13.03 / 12:28

Blockchain Stablecoin Binance defi Banks Silicon Valley Bitcoin recovery Binance CEO announces recovery funds conversion from BUSD to 'native crypto'

The failure of three major crypto-backing banks, Silicon Valley Bank (SVB), Silvergate Bank and Signature Bank caused the stablecoin (USDC) to fall to as low as $0.87 from its $1 benchmark.

13.03 / 09:21

business coinbase Banks banking Paxos Celsius Coinbase, Celsius and Paxos disclose funds in Signature Bank

Crypto exchange Coinbase, crypto lender Celsius and stablecoin issuer Paxos are among the crypto firms with funds reportedly tied up with the now-shuttered Signature Bank.

13.03 / 08:29

business Blockchain Technology Banks banking Bitcoin ‘Nobody left to bank crypto companies’ — Crypto Twitter reacts

Crypto companies could find it harder to access traditional banking partners with the loss of two major crypto-friendly banks in less than a week, according to some in the crypto community.

13.03 / 04:07

business Stablecoin Banks banking Usd Coin USDC bounces back toward $1 peg after Fed announcement

Circle’s stablecoin USD Coin (USDC) is climbing back to its $1 peg following confirmation from CEO Jeremy Allaire that its reserves are safe and the firm has new banking partners lined up at “banking open tomorrow morning.”

13.03 / 02:05

business Banks Federal Reserve Central Bank banking US Fed announces $25B in funding to backstop banks

Hot on the heels of several United States bank collapses, the Federal Reserve has announced $25 billion worth of funding aimed at backstopping banks and other depository firms.

13.03 / 02:05

business Banks Federal Reserve Central Bank Breaking: Signature Bank closed by New York banking authorities

New York-based Signature Bank, another crypto-friendly bank, has been closed down by its state charter authority as of Mar. 12.

12.03 / 21:53

business regulation Banks Silicon Valley U.S. authorities preparing 'material action' to curb SVB contagion

United States authorities are working on "material action" over the weekend in an attempt to limit the ripple effect across the country's banking system after the Silicon Valley Bank abruptly collapsed on March 10.

12.03 / 20:39

business regulation Banks Silicon Valley FDIC bidding for Silicon Valley Bank is in progress: Report

The United States Federal Deposit Insurance Corporation (FIDC) started an auction process on March 11 night for Silicon Valley Bank, Bloomberg reported citing unnamed sources. Bids are allegedly open for just a few hours, before the process closes later this Sunday.

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.

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