Tag: Valley
How Silicon Valley Bank’s Failure Could Have Spread Far and Wide
WASHINGTON — The federal government’s rescue of two failed banks last month has drawn criticism from some lawmakers and investors, who accuse the Bide [...]
Sen. Warren, Rep. AOC Ask Circle, BlockFi Why They Banked at Silicon Valley Bank
They have also been asked to provide information about the alleged “coddling” of any of their executives or board members by SVB, including details ab [...]
USDC Boasted Transparency. It Didn’t Help When Silicon Valley Bank Got Into Trouble
On a long enough timeline, another significant stablecoin test, like the one that faced USDC, is inevitable. The reasons for the next one will be diff [...]
Top Fed Officials Criticize Silicon Valley Bank Executives at Senate Hearing
Officials blamed executives at Silicon Valley Bank for its failure on March 10, while adding that Federal Reserve oversight is in for a revamp.
www.n [...]
Silicon Valley Bank’s Risks Went Deep. Congress Wants to Know Why.
Lapses at the bank will be a focus as a top Federal Reserve official testifies to House and Senate committees this week.
www.nytimes.com [...]
Fed Vice Chair Calls Silicon Valley Bank a ‘Textbook Case of Mismanagement’
The Federal Reserve’s top bank cop blamed Silicon Valley Bank’s leaders, while previewing the cental bank’s review of its faulty oversight.
www.nytim [...]
First Citizens Scooping Up Big Chunks of Silicon Valley Bank
The Federal Deposit Insurance Corp. announced late Sunday that First Citizens Bank will acquire the deposits, loans and branches of failed Silicon Val [...]
First Citizens to Buy Silicon Valley Bank’s Deposits, Loans in $55.5B Agreement With FDIC
In a statement, the FDIC said that all depositors of Silicon Valley Bridge Bank, the bridge bank set up by the FDIC after SVB’s failure, will automati [...]
First Citizens snaps up Silicon Valley Bank — Branches open Monday
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 De [...]
First Citizens Nearing Deal for Silicon Valley Bank: Bloomberg
While Silicon Valley Bank didn't provide fiat on-ramps to exchanges, like Silvergate or Signature bank, a number of key crypto companies like Circle F [...]
Crypto Exchange BitMEX's Acting CEO: We Have Gone Through the ‘Valley of Death’
The trading platform is built for the current market situation and is now reaping those benefits, Stephan Lutz, says.
www.coindesk.com [...]
Silicon Valley Bank’s downfall has many causes, but crypto isn’t one
Silicon Valley Bank (SVB) boasted over $200 billion in assets and was a lifeline for crypto companies.Notably, it was one of the few institutions offe [...]
Before Collapse of Silicon Valley Bank, the Fed Spotted Big Problems
The bank was using an incorrect model as it assessed its own risks amid rising interest rates, and spent much of 2022 under a supervisory review.
www [...]
Silicon Valley Bank's Parent Company Files for Bankruptcy
The company said Friday it had filed for court-supervised reorganization in the United States Bankruptcy Court for the Southern District of New York t [...]
Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash
The collapse of Silicon Valley Bank (SVB) saw investors loading their bags with USD Coin (USDC), along with an exodus of funds from centralized exchan [...]