Business Financial News

13.03 / 08:29

business Blockchain regulation SEC us government Usd Coin Biden vows to hold those responsible for SVB, Signature collapse

The President of the United States Joe Biden has vowed to hold those responsible for the failure of Silicon Valley Bank and Signature Bank while assuring Americans that their deposits are safe.

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 / 02:49

business banking Silicon Valley Financial Ripple CEO assures ‘strong financial position’ despite SVB collapse

Ripple CEO Brad Garlinghouse took to Twitter on Mar. 12 to discuss the company’s exposure to Silicon Valley Bank (SVB) and reassure his followers of Ripple's stability.

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.

13.03 / 00:41

business defi Silicon Valley Silicon Valley Bank collapse: Everything that’s happened until now

The sudden collapse of Silicon Valley Bank (SBV) has quickly unfolded over the course of three days, depegging stablecoins, leading regulators in the United States and United Kingdom to prepare emergency plans and raising fears among small businesses, venture capitalists and other depositors with funds stuck at the California tech bank.

12.03 / 22:43

business Silicon Valley Bank of London bids to acquire Silicon Valley Bank's UK arm

Global clearing institution Bank of London has submitted a formal proposal to acquire the Silicon Valley Bank's subsidiary in the United Kingdom, according to a statement disclosed by Reuters on March 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 / 19:03

business regulation Bank of England Silicon Valley UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse

A plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom, according to multiple reports on March 12. The emergency plan will include a cash lifeline to a number of businesses.

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 / 15:13

business Blockchain Technology Stablecoin Adoption Tokens Decentralization Usd Coin How and why do stablecoins depeg?

Stablecoins are a type of cryptocurrency designed to have a stable value relative to a specific asset or a basket of assets, typically a fiat currency such as the U.S. dollar, euro or Japanese yen.

12.03 / 14:03

business Adoption Funding Metaverse Financial Systems South Korea launches Metaverse Fund to expedite domestic initiatives

While some global economies got distracted by the commotion around price instability and ecosystem collapses in crypto, South Korea doubled down on the potential of the metaverse as a new economic growth engine.

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 / 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 / 22:27

business Blockchain Usd Coin reports resolution Breaking: USDC slowly repegs on unconfirmed reports of SVB resolution

According to a post on Mar. 11 by Bob Elliot, chief investment officer of unlimited funds, relief efforts may already be underway less than 72 hours after the collapse of prominent American tech bank Silicon Valley Bank (SVB). Elliot claimed, among many items, that "big banks actively working on buying svb business," the U.S. Federal Deposit Insurance Corporation (FDIC) is planning to cover 95% of uninsured depositors to the acquirer, and that "50pct of uninsured paid out next wk."

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 / 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.

frequently asked questions about business

What is business and why is it important?

Business is a high-demand area that draws public attention. On our site, we regularly publish news related to this subject.

Where can I find the latest updates on business?

All new posts about business can be found in the highlighted block. We publish information in a timely manner.

How can I verify the accuracy of information on business?

We use verified data to ensure that the information about business is reliable and helpful for our readers.