While Biden and Trump Blame Each Other for Bank Failures, Others Believe the Cause Might Be a Management Issue

The recent banking failures involving the fall of Silicon Valley Bank (SVB), Signature Bank, and Silvergate Bank, have high-profile government individuals trying to find a culprit. U.S. President Joe Biden and former President Donald Trump have publicly blamed each other’s policies for the outcome, but according to some analysts, the problem might be ignorance in [...]

The post While Biden and Trump Blame Each Other for Bank Failures, Others Believe the Cause Might Be a Management Issue appeared first on Crypto Breaking News.

View Details

Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures

On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC), released a similar report on Signature Bank’s collapse and [...]

The post Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures appeared first on Crypto Breaking News.

View Details

Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations

On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the testimonies, digital assets and crypto businesses were mentioned. Senate Banking Committee chairman Sherrod Brown claimed on Tuesday [...]

The post Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations appeared first on Crypto Breaking News.

View Details

First Citizens Bank to Acquire Silicon Valley Bank Deposits and Loans

First Citizens Bank will acquire all deposits and loans of Silicon Valley Bank after its collapse following rumors of a liquidity crisis. The FDIC has approved the purchase and assumption agreement, and Silicon Valley Bank depositors will become depositors of First Citizens Bank. The North Carolina-based bank is now the 30th largest commercial bank in the US. (Read More)

View Details

NFT markets are out of balance, with sellers dominating: Data

In April there hasn’t been a single day where total sellers on the market haven’t exceeded total buyers.

View Details

First Citizens Bank to acquire failed Silicon Valley Bank assets at a discount

First-Citizens Bank is set to acquire the assets of the failed Silicon Valley Bank (SVB) — valued at $72 billion for a discount of $16.5 billion.

The post First Citizens Bank to acquire failed Silicon Valley Bank assets at a discount appeared first on CryptoSlate.

View Details

Breaking: First Citizens snaps up Silicon Valley Bank — Branches open Monday

The deal was announced on March 26 by the Federal Deposit Insurance Corporation (FDIC).

View Details

How Bank Failures in the US Could Impact Philippine Crypto Regulations

With the collapse of US banks, we explore the perspectives of different stakeholders on if this contagion will lead to stricter regulations.

The post How Bank Failures in the US Could Impact Philippine Crypto Regulations appeared first on BitPinas.

View Details

Why This Economics Professor Thinks Bitcoin Is Worthless

Steve Hanke, a professor of Applied Economics at Johns Hopkins University, is the latest scholar to trash Bitcoin. Bitcoin Has No Fundamental Value, Says Professor In a tweet on March 26, Hanke said Bitcoin is not a currency but a speculative asset whose fundamental value is zero. He appeared to back fiat, including the Japanese [...]

The post Why This Economics Professor Thinks Bitcoin Is Worthless appeared first on Crypto Breaking News.

View Details

Circle CEO Jeremy Allaire: ‘Other Governments Are Regulating Digital Dollars Before the US’

Jeremy Allaire, CEO of Circle, the company behind the issuance of usd coin (USDC), has expressed his worries about the state of stablecoin regulation in the U.S. In a congressional hearing, Allaire stated that other governments were already regulating the issuance of digital dollars (dollar-backed stablecoins) and called on the U.S. government to act by [...]

The post Circle CEO Jeremy Allaire: ‘Other Governments Are Regulating Digital Dollars Before the US’ appeared first on Crypto Breaking News.

View Details

US explores additional bank support, favoring First Republic's benefit: Report

Despite banking laws stating that remedies should not be aimed at benefiting a specific bank, this change could be structured “in a way to ensure” First Republic benefits, according to unnamed sources.

View Details

US contemplates ‘expanding’ emergency lending facility for banks: Report

United States authorities are reportedly deliberating on extending an emergency credit line for banks, “in ways” which may provide First Republic Bank with a time buffer to address its balance sheet concerns, according to people with knowledge of the situation. In a March 26 Bloomberg report citing unnamed sources, it was reported that U.S. officials [...]

The post US contemplates ‘expanding’ emergency lending facility for banks: Report appeared first on Crypto Breaking News.

View Details

US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor

A recent review of Nigerian banks’ bond portfolios showed that the institutions were not directly exposed to Silicon Valley Bank, the governor of the country’s central bank has said. In addition, the governor said the Central Bank of Nigeria’s stringent guidelines help to create a “very safe” banking system. Priority Given to Depositors According to [...]

The post US Banking Crisis: Nigerian Banks Not Directly Exposed to SVB Says Central Bank Governor appeared first on Crypto Breaking News.

View Details

US Treasury seeks to tighten nonbank rules following banking crisis

Janet Yellen called for further regulation of nonbank institutions claiming they pose a systemic risk to U.S. financial stability.

View Details

‘How did this happen’ — Powell says Fed stumped over the collapse of SVB

United States Federal Reserve chairman Jerome Powell has conceded that his regulator was blindsided by the sudden collapse of Silicon Valley Bank (SVB), despite it being under their watch. In a press conference held just after the Federal Open Market Committee meeting on March 22, Powell said he immediately knew there was a need for [...]

The post ‘How did this happen’ — Powell says Fed stumped over the collapse of SVB appeared first on Crypto Breaking News.

View Details

Federal Reserve Hikes Rates Up by 25 Basis Points Despite Banking Turmoil

Despite Silicon Valley Banks implosion, the Federal Reserve has elected to keep tightening monetary conditions in the United States. 4.75% to 5% range The Federal Reserve is pushing on in...

View Details

‘Operation Choke Point 2.0’ may have contributed to SVB’s collapse: Mulvaney

While the existence of “Operation Choke Point 2.0” has not been confirmed, Mick Mulvaney spoke of “rumors” of its existence and the potential side effects of such a policy.

View Details

‘Operation Choke Point 2.0’ may have contributed to SVB collapse: Mulvaney

If the United States government really is implementing “Operation Choke Point 2.0” it will hurt financial stability and may have contributed to the collapse of Silicon Valley Bank (SVB) according to Donald Trump’s former Acting White House Chief of Staff, Mick Mulvaney. “I don’t want to think that the government would actually do that,” Mulvaney [...]

The post ‘Operation Choke Point 2.0’ may have contributed to SVB collapse: Mulvaney appeared first on Crypto Breaking News.

View Details

US exploring ways to guarantee the country's 18T of bank deposits: Report

The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount.

View Details

Bitcoin's Market Cap Surpasses Meta's Despite Turbulent Week for Crypto

Bitcoin's market cap has surpassed that of tech giant Meta, despite a turbulent week for the crypto market following the downfall of Silicon Valley Bank and Signature Bank. Bitcoin's market cap has risen 9.7% in the past 24 hours, sitting at $471.86 billion and ranking it 11th among top assets by market cap. (Read More)

View Details