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0 CommentsProminent members of the crypto community have expressed uncertainty after the loss of crypto friendly banks. 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. On Mar. 12, the Federal Reserve announced the closure…
US President Joe Biden on Twitter said he is “firmly committed” to holding those responsible for the Silicon Valley Bank and Signature Bank collapse “fully accountable.” 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…
Events surrounding Silicon Valley Bank are moving fast. Here is a breakdown of the major developments over the last week. The sudden collapse of Silicon Valley Bank (SVB) has quickly unfolded over the last week, depegging stablecoins, leading regulators in the United States and the United Kingdom to prepare emergency plans and raising fears among…
Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Several USD Coin holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC’s collateral was held at Silicon Valley Bank. However, not all of them had success during panic…
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses. 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…
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired. Billionaire Bill Ackman has urged the United States government to “guarantee” all Silicon Valley Bank’s (SVB)’s deposits within the next “48 hours,” or it risks the “destruction” of many financial institutions. In a Mar. 11 tweet, Bill Ackman, CEO of…
