U.S. Banking Cutoff Presents Opportunities for Crypto in Europe
As crypto firms in the U.S scramble for alternatives to Silvergate and Signature Bank, an opportunity to capitalize on the calamity presents itself for Europe.
Crypto Firms Are Retreating to Swiss Banks After Industry Meltdown
With the largest crypto-supportive banks in the U.S. crumbling at the seams, industry firms appear to be retreating to Switzerland for a financial lifeline.
SVB Financial Group Files for Chapter 11 Bankruptcy; Circle's $3.3B USDC Reserve Risk Removed | Cointime Weekly Mar.12 – Mar.18
Stripe secures $6.5 billion in Series I at a $50B valuation; Coinbase likely to launch global crypto trading platform; Euler Finance hacked for over $195M in a flash loan attack; crypto assets to become a separate category in the UK tax forms.
U.S. FDIC Weighs Backstop on Bank Auctions to Attract Smaller Peers – Source
U.S. regulators are considering retaining ownership of securities owned by Signature Bank (SBNY.O) and Silicon Valley Bank (SIVB.O) to allow smaller banks to participate in auction for the collapsed lenders, a source familiar with the matter said on Friday.
President Biden Says Banking Crisis Has Calmed Down
U.S. President Joe Biden said on Friday the banking crisis has calmed down after the recent collapse of Silicon Valley Bank (SVB) (SIVB.O) and Signature Bank (SBNY.O).
Short Seller Bill Ackman Hints At Signature Bank Buyout By This Major Bank
In a recent turn of events, prominent short-seller Bill Ackman hinted that the erstwhile crypto-friendly bank, Signature Bank, might get acquired by a major financial institution in the United States. Ackman in a cryptic tweet on Friday, suggested that Bank of America could possibly buy the derailed bank, however, without citing the source of information.
Congress Announces March 29 Hearing Into Failures of SVB and Signature Bank
In a March 17 notice, Representatives Maxine Waters and Patrick McHenry — ranking member and chair of the committee, respectively — said U.S. lawmakers would listen to testimony from federal financial regulators “in response to the failures of Silicon Valley Bank and Signature Bank” in a March 29 hearing. FDIC chair Martin Gruenberg and Fed vice chair for supervision Michael Barr are expected to appear before Congress.
Bank of America Said To Be Buying Signature Bank, Tweets Bill Ackman
Taking to Twitter on March 17, investor and renowned short-seller Bill Ackman said Bank of America has plans to step in and acquire distressed U.S. Signature Bank, one of three banks that went into forced receivership after a crisis in the U.S. banking sector last week.
Here’s What On-Chain Data Tells Us About Crypto’s Reaction to the Demise of Silicon Valley Bank And USDC’s Depegging
Below, we’ll look at a few data points that explain what happened over the weekend and what could be in store for crypto in the near future.
FDIC Denies Report Signature Bank Purchaser Must Divest Crypto
The Federal Deposit Insurance Corporation denied it would require any purchaser of Signature Bank to divest its crypto activities.
