FDIC asked Signature buyers to stop all crypto business: Report
The FDIC regulators have reportedly required any buyer of Signature to agree to give up all cryptocurrency business at the bank. Go to Source Powered by WPeMatico
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US credit crunch means it’s time to buy gold and Bitcoin: Novogratz
The Galaxy Digital CEO predicts tough times ahead for the U.S. economy, but continues to be bullish on crypto. Go to Source Powered by WPeMatico
Why isn’t the Federal Reserve requiring banks to hold depositors’ cash?
The fact that most banks aren’t required to keep your money on hand makes it likely that more bank failures will occur in the months ahead. Go to Source Powered by WPeMatico
Circle CEO ‘able to access’ $3.3B of USDC’s reserves at Silicon Valley Bank
Circle’s earlier disclosure that $3.3 billion worth of USDC reserves were held with Silicon Valley Bank resulted in it losing market share to its competitor USDT. Go to Source Powered by WPeMatico
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and … Read more
Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin. Go to Source Powered by WPeMatico
SVB crisis: Here are the crypto firms denied exposure to troubled US banks
Some of the biggest firms in crypto have denied exposure to any of the failed banks in the United States. Go to Source Powered by WPeMatico
Goldman Sachs Now Expects No Rate Hike in March Due to Stress in US Banking System
Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after the central bank announced measures to rescue depositors of failed Silicon Valley Bank and … Read more
Silvergate and SVB bite the dust: Law Decoded, March 6–13.
Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures. Go to Source Powered by WPeMatico
Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum
On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement. CZ’s Decision to Convert $1 Billion BUSD Comes Amidst Troubles … Read more
