Santander, HSBC, Deutsche and Others Still Willing to Serve Crypto Clients After Banking Failures, DCG Says
Crypto conglomerate Digital Currency Group (DCG) is trying to find new banking partners for portfolio companies following the collapse of Silicon Valley Bank (SVB), Signature Bank (SBNY), and Silvergate (SI), according to messages viewed by CoinDesk.
Marathon Currently Holds Approximately $142 Million Cash Deposits at Signature Bridge Bank
Marathon currently holds approximately $142 million cash deposits at Signature Bridge Bank, N.A. The Company has access to its funds for treasury management purposes and is paying all invoices in the normal course of business.
Silicon Valley Bank’s New CEO Sends Letter to Clients: ‘We Are Conducting Business As Usual’
Silicon Valley Bank’s clients received a surprising email in their inboxes late Monday evening from the bank’s new CEO Tim Mayopoulos stating that the institution was not only open, it was also business as usual.
US Fed Faces Internal Probe Over Silicon Valley Bank Failure
The Federal Reserve is investigating the factors that led to the failure of Silicon Valley Bank — including how it supervised and regulated the now-collapsed financial institution.
BlockTower Capital Funds Had Exposure to Silvergate, Signature Bank
Four private funds of crypto asset manager BlockTower Capital used now-shuttered Signature Bank, Silvergate Bank – and in one case, both – as custodians for the assets, according to the most recent regulatory filing required for investment advisers. The funds added up to about $940 million in gross asset value.
FDIC Planning Another Silicon Valley Bank Auction
Regulators are planning to take another crack at auctioning failed Silicon Valley Bank, according to people familiar with the matter, after they were unable to find a buyer for the firm over the weekend.
HSBC Plans To Inject £2 Billion of Liquidity Into UK Unit of SVB
HSBC Holdings Plc, the new owner of Silicon Valley Bank’s UK unit, is planning to inject £2 billion ($2.4 billion) of liquidity into the division.
Apollo Eyes SVB Assets As Suitors Circle $73.6 Billion Loan Book
Apollo Global Management Inc. expressed interest in snapping up a book of loans held by Silicon Valley Bank, the California lender seized by federal regulators last week.
Crypto Industry May Escape Lasting Damage From Silvergate Liquidation
Banks are the lifeblood of a nation’s economic system, and any bank collapse is disturbing. Last week saw two failures. On March 8, Silvergate Capital — the cryptocurrency-focused banking company — entered into voluntary liquidation. On March 10, United States regulators shut down and seized the deposits of tech-oriented Silicon Valley Bank in what was being called the second-largest bank failure in U.S. history. Both California institutions were victims of bank deposit runs.
Bitcoin Gains as FDIC Steps In for Silicon Valley Bank
Risky assets pared or reversed early gains during the European trading hours as shares in San Francisco-based First Republic Bank (FRC) nosedived in premarket trading in the U.S., reflecting investor angst over the banking sector's health. Bitcoin pulled back to $22,000, after it nearly tested its 50-day simple moving average at $22,900 during Asian daytime hours. The cryptocurrency is still up 8% in the last 24 hour as the Federal Deposit Insurance Corp. said all depositors of Silicon Valley Bank will have full access to their money beginning Monday morning. after confirming a successful transfer of deposits to a new bridge bank. The new bridge bank, called Silicon Valley Bank N.A., will be operated by the FDIC. Silicon Valley Bank is used by many tech companies, an area that includes crypto startups.
