Tag: SVB

Senator Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse. A former Signature Bank executive has been slammed for seemingly trying to place the blame for his bank’s collapse on crypto while purportedly being able to pocket millions in bonuses and stock options. During a Senate Banking…

The deal was announced on March 26 by the Federal Deposit Insurance Corporation (FDIC). North Carolina-based First Citizens Bank is set to acquire all deposits and loans of Silicon Valley Bank, according to a statement from the Federal Deposit and Insurance Corporation (FDIC). Under a March 26 purchase and assumption agreement, 17 former branches of Silicon Valley…

Rising interest rates, which brought down the U.S. banking system’s market value of assets by $2 trillion, combined with a large share of uninsured deposits at some U.S. banks, threatens their stability. The perfect mix of losses, uninsured leverage and a greater loan portfolio, among other factors, resulted in the fall of Silicon Valley Bank…