Scott Shay and Greg Becker Face Criticism for Congressional Testimony on Bank Collapses
Scott Shay and Greg Becker criticized for their congressional testimony The two executives were careful to shift the blame for the bank collapses onto "alarmists" and regulators Both received hefty bonuses shortly before the organizations collapsed Th ...
American Venture Capitalist Urges Diversification into Crypto Amid Bank Collapse Fears
As the government continues to print money and raise interest rates, American venture capitalist Tim Draper is urging entrepreneurs to diversify their assets in preparation for the possible collapse of new banks. In response to the recent collapse of Silicon Valley Bank (SVB), Draper is recommend ...
Circle Redeems $3 Billion of USDC and Buys Back $3.8 Billion to Restore Peg
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 ...
Silicon Valley Bank CEO and CFO face class-action lawsuit over alleged abuse of power
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 ...