Tag: banks

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…

At the time of writing, USDC lost 3% of its value as it traded at $0.969, and a Circle executive envisions broader implications for business, banking and entrepreneurs without a Federal rescue plan. Almost immediately after USD Coin (USDC) issuer Circle revealed it was not able to withdraw $3.3 billion of its $40 billion from…

The Fed’s vice chair for supervision said that the central bank does not want to curb innovation but ensure that regulations protect households and the financial system. The United States Federal Reserve is set to create a “specialized team of experts” to keep up with developments in the cryptocurrency industry, according to a Fed official,…

The demise of the crypto-friendly bank has prompted discussion about who tipped the first domino, and where crypto firms can turn for their banking needs. The voluntary liquidation of crypto-friendly bank Silvergate has sparked many to share their thoughts about the source of its troubles and the broader impact of the bank’s collapse on crypto….

While the bulletin was intended to provide clarity regarding the accounting treatment for digital assets, it has been criticized by both lawmakers and regulators. Two United States lawmakers have criticized crypto accounting guidelines outlined by the securities regulator, arguing it places crypto customers at greater risk of loss. The guidelines came from the United States…