Silicon Valley Financial News

10.11 / 10:29

Microsoft Silicon Valley ChatGPT OpenAI OpenAI and Microsoft partner with Humane on wearable AI pin

The artificial intelligence (AI) startup Humane released a physical device on Nov. 10 that serves as a wearable AI virtual assistant.

12.08 / 07:21

Silicon Valley Worldcoin Worldcoin scans eyeballs and offers crypto. What to know about the project from OpenAI's CEO

Worldcoin is drawing the attention of privacy regulators around the world, with the Kenya's government going so far as to shut down the service indefinitely. The international ID startup, backed by big names in Silicon Valley, is now having to defend itself in investigations over whether the biometric data that the company is collecting is truly secure. Here's what to know about Worldcoin and the concerns its raising: WHAT IS WORLDCOIN? Worldcoin is the creation of Sam Altman, best known as the CEO of OpenAI, the company that has gained widespread recognition with its artificial intelligence chatbot ChatGPT.

28.07 / 01:51

business Altcoin Funding Venture Capital cryptocurrency investment FTX Silicon Valley collapses Sequoia slashes its crypto fund by 66% after industry collapses: Report

Venture capital giant Sequoia Capital reportedly downsized its cryptocurrency fund from $585 million to $200 million, amid a liquidity crunch and a pivot away toward smaller crypto players.

23.06 / 15:59

business Investments Circle Banks Silicon Valley Circle and Sequoia were among top depositors at Silicon Valley Bank: Report

Stablecoin issuer Circle and venture capital firm Sequoia Capital were reportedly among the top 10 depositors at the collapsed crypto-friendly Silicon Valley Bank (SVB) in March.

20.06 / 19:41

Government regulation us government Machine Learning Silicon Valley U.S. Biden to discuss dangers of AI in San Francisco meeting with experts

United States President Joe Biden will discuss artificial intelligence (AI) with a group of Silicon Valley experts on June 20 between campaign fundraising stops in California.

11.05 / 17:39

regulation Congress Silicon Valley GAO GAO cites exposure to digital assets in exploring collapse of Signature Bank

The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included exposure to deposits from the cryptocurrency industry.

27.04 / 05:49

regulation Banks Central Bank banking Silicon Valley Silvergate regulatory Cameron Winklevoss claims regulatory double standards over banking crisis

Cameron Winklevoss, the co-founder, and CEO of New York-headquartered crypto exchange Gemini, has accused U.S. regulators of perpetrating double standards in handling the First Republic Bank crisis.

12.04 / 00:41

business regulation Banks Congress Senate community Silicon Valley Circle and BlockFi questioned on banking with SVB by Warren and AOC

Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigating the so-called “mutual backscratching arrangements” alleged to have taken place with the now-failed Silicon Valley Bank (SVB).

24.03 / 06:09

Banks crypto market Silicon Valley Silvergate Bitcoin How would the collapse of 3 major banks in US impact crypto market?

banks in the United States — Silvergate, Silicon Valley, and Signature. However, what led to this occurrence, and is there a connection between their simultaneous decline? Let's explore.Why did Silvergate Bank collapse? One of the major players in the crypto lending space, Silvergate Bank, experienced a significant setback in November last year when investors withdrew $8.1 billion in the aftermath of the FTX incident. This triggered a series of negative consequences, including the sale of debt at a loss of $718 million.

22.03 / 22:05

NFT Silicon Valley SVB collapse chilled NFT trading volumes: Nifty Newsletter, March 15–21

The recent collapse of the Silicon Valley Bank (SVB) resulted in dwindling numbers for NFT trading volumes, with traders holding on to their assets amid the banking crisis in the United States.

20.03 / 23:33

Binance European Union Banks Congress Court Silicon Valley In the aftermath of banks’ horrorshow: Law Decoded, March 13–20.

A week after the twinning collapse of Silicon Valley Bank (SVB) and Signature Bank, and the trouble at Credit Suisse, the dust is slowly settling down. SVB Financial Group has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court. The company is no longer affiliated with Silicon Valley Bank, which operates under the jurisdiction of the Federal Deposit Insurance Corporation (FDIC) and is not included in the Chapter 11 filing. Meanwhile, the United Kingdom arm of the bank was acquired by HSBC for 1 British pound.

20.03 / 16:53

business Banks banking Silicon Valley Bankruptcy Bitcoin Bitcoin Price Rattled crypto industry could emerge stronger after USDC depeg

USD Coin (USDC), the world’s second-largest stablecoin, may simply have been in the wrong place at the wrong time.

20.03 / 16:25

business Law Banks banking Silicon Valley Bitcoin Silicon Valley Bank’s downfall has many causes, but crypto isn’t one

Silicon Valley Bank (SVB) boasted over $200 billion in assets and was a lifeline for crypto companies.

18.03 / 08:43

business Adoption Central Bank banking Silicon Valley Bankruptcy More 186 US banks well-positioned for collapse, SVB analysis reveals

The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of Silicon Valley Bank (SVB). Comparing SVB’s situation with other players revealed that nearly 190 banks operating in the United States are at potential risk of a run.

18.03 / 01:53

regulation Banks Congress Silicon Valley Signature Bank hearing Congress announces March 29 hearing into failures of SVB and Signature Bank

Representatives from the Federal Deposit Insurance Corporation and Federal Reserve will be testifying before the United States House Financial Services Commission in a newly announced hearing investigating the collapse of two major banks.

17.03 / 15:43

business regulation SVB Silicon Valley Bankruptcy Financial Breaking: SVB Financial Group files for Chapter 11 bankruptcy

Troubled SVB Financial Group has filed a voluntary petition for a court-supervised reorganization under Chapter 11 in the United States Bankruptcy Court to preserve value.

17.03 / 15:19

business regulation banking SVB Silicon Valley Signature Bank US Bank collapse - was crypto being targeted?

Signature Bank in particular served the likes of Paxos Trust and Celsius and other major crypto firms that suffered as a result of the decisions taken by the Federal Deposit Insurance Corporation and New York State Department of Financial Services.

16.03 / 18:09

business Provident BTC coinbase Fallout SVB Silicon Valley Decentralize and the week’s Breaking News: SVB, USDC and BTC to 26k

Breaking news and insightful views: Cointelegraph’s Decentralize drops a new style of podcast, curated for you by the Cointelegraph news team.

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.

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.

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.

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