Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B
Bitcoin has decoupled from stocks and rising ten years after the Cyprus banking crisis coincided with a BTC price boom. Go to Source Powered by WPeMatico
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More 186 US banks well-positioned for collapse, SVB analysis reveals
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. Go to Source Powered by WPeMatico
FTX debtors report $11.6B in claims, $4.8B in assets with many crypto holdings ‘undetermined’
The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations. Go to Source Powered by WPeMatico
SVB Financial Group Files for Chapter 11 Bankruptcy Protection to ‘Preserve’ Firm’s Value
On March 17, 2023, SVB Financial Group, the parent company of Silicon Valley Bank, filed for Chapter 11 bankruptcy protection in the Southern District of New York. The company stated that it is no longer associated with Silicon Valley Bank (SVB) after the Federal Deposit Insurance Corporation (FDIC) placed it into receivership last week. 3 … Read more
Banking crisis: What does it mean for crypto?
In our latest Cointelegraph Report, we broke down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explain what this all could mean for crypto. Go to Source Powered by WPeMatico
Sam Bankman-Fried petitions court to prioritize reimbursing his legal fees
FTX’s legal counsel requested insurers to advance or reimburse Bankman-Fried’s defense costs and fees under the company’s directors and officers (D&O) insurance. Go to Source Powered by WPeMatico
BlockFi in no immediate danger, despite Silicon Valley Bank exposure: Report
Christine Okike, a lawyer representing BlockFi at its bankruptcy hearing claimed that BlockFi is not in immediate danger and has sufficient funds to continue operating normally. Go to Source Powered by WPeMatico
Fed starts ‘stealth QE’ — 5 things to know in Bitcoin this week
Bitcoin and crypto react bullishly to news that the Fed is providing liquidity again in the wake of Silicon Valley Bank failing and Signature Bank being closed. Go to Source Powered by WPeMatico
Binance US, Alameda, Voyager Digital and SEC — the ongoing court saga
Court cases involving the U.S. SEC and some major crypto industry enterprises – Voyager Digital, Alameda Research and Biance – have continued to progress throughout 2023. Go to Source Powered by WPeMatico
NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout
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 … Read more