FDIC bidding for Silicon Valley Bank is in progress: Report
The FDIC has reportedly started an auction process on late Saturday for Silicon Valley Bank. Bids are open for just a few hours. Go to Source Powered by WPeMatico
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UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse
An emergency plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom. Go to Source Powered by WPeMatico
U.S. Treasury Janet Yellen working on SVB collapse, not at bailout: Report
Janet Yellen said in an interview on March 12 that U.S. regulators are working to address Silicon Valley Bank collapse, but not considering a major bailout. Go to Source Powered by WPeMatico
Over 100 VCs, investors voice solidarity with Silicon Valley Bank
Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank as a way to limit the fallout of the bank’s collapse and subsequent extinction of tech companies. Go to Source Powered by WPeMatico
Do Kwon had the right idea, banks are risk to fiat-backed stablecoins: CZ
Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. Go to Source Powered by WPeMatico
Silicon Valley Bank failure could trigger run on U.S. regional banks
A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses. Go to Source Powered by WPeMatico
Banks down? That is why Bitcoin was created, crypto community says
Silicon Valley Bank (SVB) collapse on March 10 has sparked fear, doubt, and uncertainty (FUD) across the crypto community. Go to Source Powered by WPeMatico
USDC depegs as Circle confirms $3.3B stuck with Silicon Valley Bank
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. Go to Source Powered by WPeMatico
Circle’s exposure to U.S. banks could top $9B
Circle’s reserves are held in a number of banks in the United States, including Silvergate, Silicon Valley Bank, and Bank of New York (BNY) Mellon. Go to Source Powered by WPeMatico
What does the Silvergate collapse mean for crypto?
The recent collapse of crypto-friendly bank Silvergate will likely increase regulatory scrutiny on the ties between the crypto industry and the banking sector in the U.S. Go to Source Powered by WPeMatico
