Silicon Valley Bank

Defense tech billionaire Palmer Luckey is spearheading the launch of Erebor, a digital-only bank targeting startups, cryptocurrency businesses, and defense contractors left underserved after Silicon Valley Bank‘s collapse in March 2023. What Happened: The venture brings together a powerhouse...

Regional bank stocks, as monitored through the SPDR S&P Regional Banking ETF (NYSE:KRE), continue to trade about 13% lower than they were prior to the collapse of Silicon Valley Bank in March 2023, indicating that investor sentiment has yet to fully regain trust in the industry following last...

The commercial real estate sector’s current quandary has precipitated a significant drop in regional bank stocks, stirring investors’ memories of the notorious Silicon Valley Bank downfall. What Happened: The KBW Nasdaq Regional Bank Index experienced its most severe drop since March,...

Circle Internet Financial, the firm behind the widely used USD Coin (CRYPTO: USDC) stablecoin, is reportedly exploring a transition into a publicly traded company as early as 2024. Insiders who have elected to remain unnamed due to the private nature of their disclosures indicate the company...

Sen. Rick Scott (R-FLa.) on Tuesday took aim at Federal Reserve Chair Jerome Powell for the problems with the central bank’s balance sheet. Powell Cops The Blame: It is Powell along with his predecessors, namely Janet Yellen and Ben Bernanke, who are to blame for the Fed’s bloated...

The Basel Committee on Banking Supervision has released draft guidelines stipulating that financial institutions should offer numerical and descriptive data concerning their cryptocurrency dealings. This directive complements the substantial capital prerequisites the committee previously instituted...

Blockchain Capital, a crypto-centric venture firm, has secured $580 million through two new funds, marking its most substantial fundraising effort in its decade-long existence. With a current portfolio valued at $2 billion, the company plans to channel the newly acquired funds into supporting...

Circle Internet Financial (CRYPTO: USDC) is relying on its substantial cash reserve of more than $1 billion to navigate the increasing challenges posed by non-crypto entities such as PayPal Holdings Inc (CRYPTO: PUSD) The company wants to reverse the dwindling market share of...

All 23 banks scrutinized in the Federal Reserve’s annual stress test have passed. The central bank says the outcome of Wednesday’s stress test reaffirms the stability of the U.S. banking system amid ongoing economic concerns. “Today’s results confirm that the banking system...

One of the largest bank collapses in American history could be explored in a musical. What Happened: The collapse of Silicon Valley Bank, a unit of SVB Financial Group, was one of the biggest events of 2023 and rattled the regional banking sector. A bank run by customers trying to get deposits out...

During an interview in Paris this week, Treasury Secretary Janet Yellen said that an increase in interest rates and recent banking instability are likely to prompt more banks to pursue mergers this year, while adding that the rising costs of retaining depositors are contributing to...

The aftermath of the Silicon Valley Bank (SVB) collapse has been anything but peaceful for startups, tech companies and regulatory bodies alike. The swift downfall of SVB, which went from solvent to insolvent within a span of two days in March, sent ripples across the banking and tech sectors....

By Sahar Ayinehsazian, Hon. Ed Perlmutter and J. Devoy Dubuque Prior to its sudden shutdown, Silicon Valley Bank had a reputation for serving start-ups and entrepreneurs. Amongst its lesser-known clientele were cannabis-related businesses, which have long struggled with access to depository and...

Senators Cory Booker (D-NJ) and Raphael Warnock (D-GA), both members of the Senate Agriculture Committee, along with U.S. Rep. Steve Cohen (D-TN), introduced the bicameral Re-Entry Support Through Opportunities for Resources and Essentials (RESTORE) Act, legislation that would...

Former executives from bankrupt Silicon Valley Bank and Signature Bank sought to explain the sequence of events that led to the two banks' failures in March before the Senate Banking, Housing and Urban Affairs Committee on Tuesday.  “We took risk management seriously,...