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NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

Leave a Comment / Adrienne Harris, Assets, backstop, Bailout, bank collapse, Banking system, Bankruptcy, Bitcoin, BTFP, Crypto Hacked, crypto-friendly bank, Cryptocurrency, deposit insurance, depositors, Ethereum, Exchange Stabilization Fund, failed banks, FDIC, Federal Reserve Bank Term Funding Program, Financial Institutions, Financial regulators, Funds, joint statement, market observers, New York Department of Financial Services, News, plan, Public confidence, Regulation, resolution, secretary of the Treasury, Signature Bank, Silicon Valley Bank, Silvergate Bank, superintendent, Taxpayer, total deposits, treasury department, U.S. Central Bank, U.S. economy, U.S. Federal Reserve / admin / March 13, 2023 / Adrienne Harris, Assets, backstop, Bailout, bank collapse, Banking system, Bankruptcy, BTFP, crypto-friendly bank, deposit insurance, depositors, Exchange Stabilization Fund, failed banks, FDIC, Federal Reserve Bank Term Funding Program, Financial Institutions, Financial regulators, Funds, joint statement, market observers, New York Department of Financial Services, News, plan, Public confidence, Regulation, resolution, secretary of the Treasury, Signature Bank, Silicon Valley Bank, Silvergate Bank, superintendent, Taxpayer, total deposits, treasury department, U.S. Central Bank, U.S. economy, U.S. Federal Reserve

On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be […]

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Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow

Leave a Comment / appropriately capitalized, Assets, Auction, Bailout, bank runs, Banking system, Bill Ackman, billionaire, Bitcoin, Bloomberg Report, branches, California regulators, comment, Craft Ventures, Crypto Hacked, Cryptocurrency, David Sacks, debate, Decision, Ethereum, FDIC, final bids, Galaxy Digital, Garry Tan, Janet Yellen, Mike Novogratz, Monday, News, receivership, response, Silicon Valley Bank, SVB, SVB issues, system, tech founders, U.K., U.S., U.S. Treasury Secretary, Venture Capitalists, weaknesses, Y Combinator / admin / March 12, 2023 / appropriately capitalized, Assets, Auction, Bailout, bank runs, Banking system, Bill Ackman, billionaire, Bloomberg Report, branches, California regulators, comment, Craft Ventures, David Sacks, debate, Decision, FDIC, final bids, Galaxy Digital, Garry Tan, Janet Yellen, Mike Novogratz, Monday, News, receivership, response, Silicon Valley Bank, SVB, SVB issues, system, tech founders, U.K., U.S., U.S. Treasury Secretary, Venture Capitalists, weaknesses, Y Combinator

The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal promptly after California regulators closed the bank and placed it into FDIC receivership on

Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow Read More »

Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’

Leave a Comment / Banking system, Bitcoin, Blockchain, Circle Financial, Corporate Resources, Crypto asset, Crypto Hacked, Cryptocurrency, Ethereum, External Capital, Failed Institution, FDIC, issuance, Liquidity, Market Capitalization, Negative Scenario, News, Ordinary Course, Parity, Public Update, Reassurance, redemption, Reserve Assets, Settlement, shortfall, Silicon Valley Bank, Stablecoin, Stand Behind, Stored-Value Money Transmission Regulation, SVB, transactions, transfers, usd coin, USDC, volume / admin / March 12, 2023 / Banking system, Blockchain, Circle Financial, Corporate Resources, Crypto asset, External Capital, Failed Institution, FDIC, issuance, Liquidity, Market Capitalization, Negative Scenario, News, Ordinary Course, Parity, Public Update, Reassurance, redemption, Reserve Assets, Settlement, shortfall, Silicon Valley Bank, Stablecoin, Stand Behind, Stored-Value Money Transmission Regulation, SVB, transactions, transfers, usd coin, USDC, volume

On Saturday, March 11, 2023, Circle Financial updated the public about its stablecoin, USDC, and noted that the stablecoin’s liquidity operations will resume normally on Monday morning in the United States. Circle said that the company’s teams would be ready on Monday to “handle significant volume” and that the firm will “stand behind USDC and

Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’ Read More »

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

Leave a Comment / Bank Closures, bank collapse, bank customers, Bank Failure, bank insolvency procedure, Bank of England, Bank Run, Banking Crisis, Banking Industry, banking news, Bitcoin, BOE statement, BOE SVB UK, California Department of Financial Protection and Innovation, Central Bank, creditors, Crypto Hacked, Cryptocurrency, deposits, Ethereum, FDIC, financial sector, financial system, FSCS, hargreaves lansdown, Insolvency, liquidators, market analyst, Monetary Policy, News, rate hikes, Regulators, Silicon Valley Bank, Susannah Streeter, SVB, U.K. subsidiary, U.S. regulators, VCs, Venture Capital Funds, wire transfers / admin / March 11, 2023 / Bank Closures, bank collapse, bank customers, Bank Failure, bank insolvency procedure, Bank of England, Bank Run, Banking Crisis, Banking Industry, banking news, BOE statement, BOE SVB UK, California Department of Financial Protection and Innovation, Central Bank, creditors, deposits, FDIC, financial sector, financial system, FSCS, hargreaves lansdown, Insolvency, liquidators, market analyst, Monetary Policy, News, rate hikes, Regulators, Silicon Valley Bank, Susannah Streeter, SVB, U.K. subsidiary, U.S. regulators, VCs, Venture Capital Funds, wire transfers

After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From SVB Failure Prompts BOE to Close U.K. Branch The ripple effect of the 16th largest bank in

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company Read More »

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

Leave a Comment / Balance Sheet, Bank Failure, Bank Run, banking tech startups, Bankruptcy, Bitcoin, collapse, contagion, Crypto Hacked, Cryptocurrency, deposits, Economist, Ethereum, FDIC, Fiat, Galaxy Digital, illogical inverted yield curve, interest rates, long-duration treasuries, long-term treasuries, News, Peter Schiff, policy mistake, Powell, rate hikes, Shapeshift, short-term Treasuries, Silicon Valley Bank, Silvergate Bank, speculators, subprime mortgages, SVB, SVB deposits, U.S. Federal Deposit Insurance Corporation, U.S. Federal Reserve, unqualified buyers, Venture Capital, Venture Capitalists, Withdrawals, Yellen / admin / March 11, 2023 / Balance Sheet, Bank Failure, Bank Run, banking tech startups, Bankruptcy, collapse, contagion, deposits, Economist, FDIC, Fiat, Galaxy Digital, illogical inverted yield curve, interest rates, long-duration treasuries, long-term treasuries, News, Peter Schiff, policy mistake, Powell, rate hikes, Shapeshift, short-term Treasuries, Silicon Valley Bank, Silvergate Bank, speculators, subprime mortgages, SVB, SVB deposits, U.S. Federal Deposit Insurance Corporation, U.S. Federal Reserve, unqualified buyers, Venture Capital, Venture Capitalists, Withdrawals, Yellen

Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion Read More »

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

Leave a Comment / Auction, Bitcoin, Black Thursday, cash and stables, Circle Financial, collateral, collaterized, Crypto, Crypto Hacked, Cryptocurrency, DAI, DAI price, Dai Stablecoin, decentralized finance, DeFi, emergency proposal, Ethereum, Exposure, failure, Impact, impaired, Liquidity, makerdao, market, News, Parity, potential, proposal, Risky, Silicon Valley Bank, Stability, Stablecoin, stablecoin assets, Stablecoins, stables, support, tail risk, underwater, USDC, Voters / admin / March 11, 2023 / Auction, Black Thursday, cash and stables, Circle Financial, collateral, collaterized, Crypto, DAI, DAI price, Dai Stablecoin, decentralized finance, Defi, emergency proposal, Ethereum, Exposure, failure, Impact, impaired, Liquidity, makerdao, market, News, Parity, potential, proposal, Risky, Silicon Valley Bank, Stability, Stablecoin, stablecoin assets, Stablecoins, stables, support, tail risk, underwater, USDC, Voters

On March 11, 2023, the decentralized finance project Makerdao issued an emergency proposal following the USDC depegging incident that saw the stablecoin dip down to $0.877 per unit. At the time of writing, Makerdao commands $3.1 billion in USDC collateral that backs a portion of the project’s stablecoin, DAI. Makerdao Proposes Changes to Limit Exposure

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident Read More »

USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity

Leave a Comment / Banking, Binance, Bitcoin, BitPay, Blockchain, Cash, Circle, Circle Financial, Circle USDC, Coinbase, Crypto, Crypto Hacked, Crypto.com, Crypto.com USDC, Crypto.com USDC suspension, Cryptocurrency, DAI, Decentralized, depegging, Digital Assets, Ethereum, Exchanges, Finance, Fintech, FRAX, GUSD, Investors, Liquidity, Market Capitalization, market volatility, News, Regulation, risk management, Silicon Valley Bank, Stablecoin, SVB, SVB deposits, Tether, trading, USD parity, USDC, USDC Depeg, USDC depegging, USDD, USDP / admin / March 11, 2023 / Banking, Binance, BitPay, Blockchain, Cash, Circle, Circle Financial, Circle USDC, Coinbase, Crypto, Crypto.com, Crypto.com USDC, Crypto.com USDC suspension, Cryptocurrency, DAI, Decentralized, depegging, Digital Assets, Exchanges, Finance, Fintech, FRAX, GUSD, Investors, Liquidity, Market Capitalization, market volatility, News, Regulation, risk management, Silicon Valley Bank, Stablecoin, SVB, SVB deposits, Tether, trading, USD parity, USDC, USDC Depeg, USDC depegging, USDD, USDP

On Saturday, March 11, 2023, crypto advocates are concerned as a few stablecoin assets have depegged from their $1 parity. The second-largest stablecoin USDC, issued by Circle Financial, fell below $0.90, reaching a low of $0.877 per coin. Additionally, around five other stablecoins have dropped below the U.S. dollar parity during the early morning (ET)

USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity Read More »

Signature Bank Considered a Buy as Last Major Bank Standing in Crypto Market Amid Silvergate and SVB Troubles

Leave a Comment / Assets, Banking, Bitcoin, buying opportunity, capital, Crypto, Crypto Hacked, crypto-town, Cryptocurrencies, Cryptocurrency, deposit, equity analyst, Ethereum, Finance, financial difficulties, institutional investors, investment, Investors, Liquidity, market analysis, Market Trends, market volatility, mono-line provider, News, on-ramp, Piper Sandler, pricing power, Regulation, Signature Bank, Silicon Valley Bank, Stock, Stock Market, stock price, trading, Wall Street, Wells Fargo / admin / March 10, 2023 / Assets, Banking, buying opportunity, capital, Crypto, crypto-town, Cryptocurrencies, deposit, equity analyst, Finance, financial difficulties, institutional investors, investment, Investors, Liquidity, market analysis, Market Trends, market volatility, mono-line provider, News, on-ramp, Piper Sandler, pricing power, Regulation, Signature Bank, Silicon Valley Bank, Stock, Stock Market, stock price, trading, Wall Street, Wells Fargo

Amid the demise of Silvergate Bank and the troubles faced by Silicon Valley Bank (SVB), market analysts believe Signature Bank (SBNY) may be a buy as it’s considered the “last game in crypto-town,” according to Wells Fargo equity analyst Jared Shaw. Silvergate’s liquidation caused SBNY shares to sink on Friday, dropping more than 13% as

Signature Bank Considered a Buy as Last Major Bank Standing in Crypto Market Amid Silvergate and SVB Troubles Read More »

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

Leave a Comment / Assets, Bank Demise, Bank Failure, Bank Run, Banking Industry, Banking US, Bitcoin, buyer, California Department of Financial Protection and Innovation, Crypto Hacked, Cryptocurrencies, Cryptocurrency, Customers, deposits, Digital Assets, DINB, Ethereum, FDIC, Federal Deposit Insurance Corporation, financial institution, Insurance Limits, Insured Depositors, Liquidation, nasdaq, News, Receiver, Regulators, resolution, Silicon Valley Bank, Silicon Valley Bank deposits, Silvergate Bank, Stock Value, SVB, uncertainty, Uninsured Deposits, United States, US Banking, withdraw funds / admin / March 10, 2023 / Assets, Bank Demise, Bank Failure, Bank Run, Banking Industry, Banking US, buyer, California Department of Financial Protection and Innovation, Cryptocurrencies, Customers, deposits, Digital Assets, DINB, FDIC, Federal Deposit Insurance Corporation, financial institution, Insurance Limits, Insured Depositors, Liquidation, nasdaq, News, Receiver, Regulators, resolution, Silicon Valley Bank, Silicon Valley Bank deposits, Silvergate Bank, Stock Value, SVB, uncertainty, Uninsured Deposits, United States, US Banking, withdraw funds

After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank. Federally Insured Depositors to Withdraw Funds on Monday, Uncertainty Looms for

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual Read More »

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%

Leave a Comment / 1031 exchange rule, Biden, Biden provision, Bitcoin, bitcoin tax, BTC tax, budget, computational capacity, corporate tax, Crypto Hacked, Crypto investors, Crypto tax, Cryptocurrencies, Cryptocurrency, deficit, Digital Assets, Digital Currencies, Diversification, Economy, Electricity, Ethereum, excise tax, fossil fuel, Internal Revenue Code, IRS, Joe Biden, like-kind exchange, Liquidity, middle-out, Military Spending, Mining, News, phased tax, presidential race, rates, Real estate, Tax, tax bitcoin, tax BTC, tax crypto, tax deferral, tax incentives, tax loopholes, tax planning, taxable gains, U.S. president, ultra-wealthy, wealthy Americans, White house / admin / March 10, 2023 / 1031 exchange rule, Biden, Biden provision, bitcoin tax, BTC tax, budget, computational capacity, corporate tax, Crypto investors, Crypto tax, Cryptocurrencies, Cryptocurrency, deficit, Digital Assets, Digital Currencies, Diversification, Economy, Electricity, excise tax, fossil fuel, Internal Revenue Code, IRS, Joe Biden, like-kind exchange, Liquidity, middle-out, Military Spending, Mining, News, phased tax, presidential race, rates, Real estate, Tax, tax bitcoin, tax BTC, tax crypto, tax deferral, tax incentives, tax loopholes, tax planning, taxable gains, U.S. president, ultra-wealthy, wealthy Americans, White house

On Thursday, the Biden administration released the U.S. president’s 182-page budget proposal for the fiscal year 2024, which aims to “grow the economy from the bottom up and middle out.” The budget includes an $835 billion increase in military spending, but the administration claims it will reduce the deficit by $3 trillion over the next

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30% Read More »

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NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow

Circle Issues Update Amid Stablecoin Volatility; Firm Is Prepared to ‘Stand Behind USDC and Cover Any Shortfall’

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

Makerdao Issues Emergency Proposal to Address $3.1B in USDC Collateral After Stablecoin Depegging Incident

USDC Stablecoin Depegging Causes Concern Among Crypto Advocates, 5 Other Stablecoins Slip Below Parity

Signature Bank Considered a Buy as Last Major Bank Standing in Crypto Market Amid Silvergate and SVB Troubles

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

Biden Budget Proposal Targets Crypto Investors Using Like-Kind Exchange Provision; Plan Aims to Tax Crypto Miners 30%

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