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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 […]Powered by WPeMatico
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired.
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Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fail without protecting all depositors. “No company will take even a tiny chance of losing a dollar of deposits as there is no reward for this risk. Absent a systemwide FDIC deposit guarantee, more bank runs […]Powered by WPeMatico
On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8 billion loss. CEO Greg Becker insists that the financial institution “will be well positioned” […]Powered by WPeMatico
On Dec. 23, 2022, Matthew Russell Lee from the Inner City Press published the recently unsealed guilty plea transcript of Caroline Ellison, Alameda Research’s former CEO. In her statements, Ellison describes that she was the co-CEO and CEO of Alameda, and under those roles, she reported directly to the former FTX CEO Sam Bankman-Fried (SBF). […]Powered by WPeMatico
Shark Tank star Kevin O’Leary and billionaire hedge fund manager Bill Ackman have been slammed for stating that they believe Sam Bankman-Fried (SBF) was telling the truth that he “didn’t knowingly commingle funds.” The former CEO of the collapsed crypto exchange FTX also said he “wasn’t running Alameda,” so he “didn’t know exactly what was […]Powered by WPeMatico
Billionaire Bill Ackman has warned that the crypto industry needs to self-police or it risks being shut down. He added that regulators need more resources to police the bad actors in the crypto space and will likely take years to catch up. Bill Ackman on Crypto Regulation and the Need for Industry to Self-Police Billionaire […]Powered by WPeMatico
According to Bill Ackman, billionaire and CEO of Pershing Square Capital Management, while crypto tokens are used by unethical promoters to perpetuate fraud, they “can enable the formation of useful businesses.” A previous critic of digital assets, Ackman insists that “crypto is here to stay” and that society will benefit even more when it is […]Powered by WPeMatico
Bill Ackman’s conviction on crypto comes as much of the community attempts to regain confidence in the industry following the FTX fallout.
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Just recently the American author, economist, and retired politician Ron Paul discussed the rising tensions between China and Taiwan during an interview and he talked about the U.S. economy as well. Paul insists that the U.S. economy’s “collapse will come,” and he further stressed that “debt has to be liquidated.” ‘End the Fed’ Evangelist Ron […]Powered by WPeMatico
