How Bitcoin Could Have Prevented Silicon Valley Bank from Collapsing?
Bitcoin uses a public ledger, known as the blockchain, to keep track of transactions. This makes it more transparent and secure than traditional banking systems.
US Lawmaker Urges Government To Guarantee All Deposits To Avoid Runs on Smaller Banks
A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread across the entire banking system,” he warned.
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.
DeFi Transactions Surge Amid Silicon Valley Bank’s Fall and USDC Volatility
The market received a boost when the USDC reserve deposit held at Silicon Valley Bank became fully accessible to the public, resulting in market stabilization.
First Citizens Weighing Takeover of Silicon Valley Bank
First Citizens BancShares Inc. is evaluating an offer for Silicon Valley Bank, according to people familiar with the matter.
Fed to Consider a Pause as Fallout From SVB Roils Markets
Federal Reserve officials face their biggest challenge in months as they weigh whether to keep raising interest rates this week to cool inflation, or take a pause amid the market turmoil fueled by recent bank failures.
Silicon Valley Bank Drags Down NFT Trading Volume by 51%: Report
The collapse of SVB and the de-pegging of one of the largest stablecoins – USDC – was felt in the NFT market.
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).
Connecticut’s Governor Lamont Worries SVB Failure Will Hamper State’s VC Funding
Connecticut Governor Ned Lamont said he worries the collapse of Silicon Valley Bank could cause a pullback in early stage venture capital, putting a cap on the state’s booming new business figures.
