Silicon Valley Bank

Scaramucci Takes the Lead in Bid for Silicon Valley Bank's VC Arm: New Developments SVB Financial Group, formerly associated with Silicon Valley Bank, is making significant strides towards a potentially transformative deal involving the sale of its venture capital subsidiary, SVB Capital. Acco ...

Investigation of the collapse of the American Signature Bank found that the cause was a liquidity crisis and poor management. However, the chairman of the Federal Deposit Insurance Company (FDIC) is sure: cryptocurrencies have done their part. Martin Gruenberg, speaking ...

American bank Cross River, which supports crypto projects, has been instructed by the Federal Deposit Insurance Corporation (FDIC) to stop this type of activity. The FDIC has initiated enforcement proceedings for "unsafe and unsound" banking practices against cryptocurrency ...

Metropolitan Commercial Bank, a leading public bank in the United States, announced its departure from the cryptocurrency business, citing a significant drop in digital currency deposits from $820 million to $275 million as of March 31. The bank, with a capitalization of ...

Circle, the issuer of the USDC stablecoin, has announced a reduction in the number of USDC in circulation. In the past week, Circle issued 500 million USDC while withdrawing 2.6 billion USDC from circulation, resulting in a $2.1 billion reduction in supply. As of March 17, there were still $34 ...

During an interview, Paolo Ardoino, the CTO of Tether, made a significant announcement regarding the company's excess reserves. According to Ardoino, Tether currently has approximately $1.6 billion in reserves to support its stablecoin, USDT. Tether's USDT is backed by a variety of real assets, i ...

According to data from the analytical platform CryptoCompare, users are actively redeeming USD Coin (USDC) to Circle, with a total of $6 billion worth of stablecoins exchanged for fiat. Although Circle, the issuer of USDC, claims to fulfill all withdrawal requests promptly, representatives from t ...

In March, the cryptocurrency industry faced a significant test as three banks, SVB, Silvergate, and Signature, collapsed, causing a chain of events that once again highlighted the importance of securing stablecoins and gave momentum to the growth of Bitcoin. The collapse of SVB was initially pred ...

The US Federal Deposit Insurance Corporation (FDIC) recently announced the sale of Signature Bank's assets, with one notable exception: the cryptocurrency business. Effective March 20th, Flagstar Bank will operate the 40 former Signature branches, and Signature savers who were not involved in dig ...

Gemini's co-founder, Cameron Winklevoss, took to social media to express his reaction to the US Federal Reserve's recent announcement that it would be providing $300 billion from its holdings to cash-strapped banks. In a tweet, Winklevoss remarked that "The Fed's move has given everyone $300 bill ...

The Financial Services Commission of the US Congress's House of Representatives has set up hearings for March 29th to investigate the underlying causes behind the bankruptcies of Silicon Valley Bank and Signature Bank. The Blockchain Association, a pro-crypto lobbying group, has utilized the Free ...

Moody's analysts have expressed concern that the recent drop in the value of the USDC stablecoin to $0.89 may have far-reaching implications for the adoption of all stable cryptocurrencies and lead to increased regulation. The US banking sector has been hit by a major crisis that has resulted in ...

According to Circle, the creator of the USDC stablecoin, users redeemed a total of $3 billion worth of USDC between March 13 and March 15. In response, Circle bought back $3.8 billion worth of USDC and issued $800 million worth of stablecoins since Monday morning. The stablecoin experienced a ...

During the ongoing banking crisis in the United States, the perception of cryptocurrencies has shifted from a risky asset to a protective asset, according to Cathie Wood, the CEO of investment fund ARK Invest. Wood blames the US Federal Reserve and other regulators for the collapse of Silicon Val ...

According to a recent report by Reuters, the FDIC in the US has imposed a new condition for prospective buyers of Signature bank. Apparently, any party interested in acquiring Signature will need to agree to completely divest from the cryptocurrency business of the bank. Sources say that the F ...

Jim Cramer, the popular financial news columnist and host of Mad MoneyGram, has recently announced his decision to sell his bitcoins, despite the growing mistrust in banks and the traditional financial system. Cramer discussed the recent bankruptcy of major US banks, Silicon Valley Bank (SVB) and ...

The CEO and CFO of Silicon Valley Bank, Greg Becker and Daniel Beck, respectively, are facing legal action from shareholders who allege abuse of power. The group of shareholders filed a class-action lawsuit against the bank and its top executives in a federal court in California. According to ...

A member of Signature Bank's board has accused US regulators of intentionally discrediting the cryptocurrency industry by blocking the bank's operations over the weekend. Barney Frank, a former congressman and board member of Signature Bank, has alleged that the New York City Department of Financ ...

Circle, the company behind the popular USDC stablecoin, is urging the US Congress to take swift action in creating regulatory guidelines for stablecoins. Dante Disparte, the director of strategic development at Circle, emphasized that despite constant discussion about the risks associated with st ...

Bloomberg reports that on March 13, investors withdrew nearly $1.74 billion from USDC, according to data from the Nansen analytical platform. This represents more than 2% of the stablecoin's total working capital. The outflow occurred after USDC lost its peg to the US dollar last week due to Circ ...

Nansen, a blockchain research platform, has recently reported that the USDC stablecoin has undergone significant changes after burning almost $3 billion worth of tokens, causing the coin to rise back to its previous value of $0.97. The reason behind the sudden dip in the value of USDC was attribu ...