After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen lenders announced they will deposit $30 billion into the beleaguered bank’s coffers to shore up liquidity. U.S.…
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South Korea’s leading crypto exchanges are ready to renew their banking deals – in a sign that relations between the “big four” trading platforms and the traditional financial sector remain strong. Per Business Post, Bithumb is close to sealing an agreement with NongHyup Bank (NH Bank). The agreement that will see the two parties work…
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Silicon Valley Bank’s downfall was a product of traditional finance — critics shouldn’t conflate the issue with cryptocurrency. The entire banking concept is based on the assumption that depositors will not want to withdraw their money at the same time. But what happens when this assumption fails? The answer lies in the asset-liability mismatch of…
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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…
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Bank forecasting needs to become more than a “check-the-box” motion for regulatory compliance. It needs to be treated as a strategic decision-making tool. Traditional financial institutions take deposits from customers and use them to make loans. But they loan out much more than what they have in store at a given point in time —…
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On this week’s episode of The Market Report, Cointelegraph’s resident experts explain what is going on with banks collapsing, stablecoins depegging and what you should do to stay safe. This week on The Market Report, the resident experts at Cointelegraph discuss all the details regarding the latest bank collapse and the USD Coin (USDC) depeg.…
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The company disclosed that it has approximately $142 million in cash deposits at Signature Bridge Bank, which was set up by the FDIC after the shutdown of Signature Bank. Crypto mining firm Marathon Digital Holdings has assured investors that the firm’s cash deposits at Signature Bank are secure and available for use as of Mar.…
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Circle announced a new banking partner in relation to the failure of Silicon Valley Bank, also expanding its ties with BNY. Circle has revealed that Cross River Bank, a bank recognized for its services to fintech firms like Visa and Coinbase, is now its new commercial banking partner for the production and redemption of USD…
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Global banking giant HSBC has acquired the UK subsidiary of now-collapsed lender Silicon Valley Bank for £1 ($1.21) after all-night talks between the government, regulators, and other prospective buyers. The deal excludes the assets and liabilities of SVB UK’s parent company. As of March 10, the UK arm of SVB had loans of around £5.5…
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After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why…
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