Silicon Valley Bank

Tensions have escalated between the BlockFi Creditors Committee and the beleaguered digital asset lender's management, with the former rebuffing BlockFi's assertion that it fell victim to FTX and Alameda Research while characterizing this as a "misleading narrative....

Greg Becker, the former CEO of SVB Financial Group, the parent company of Silicon Valley Bank, attributed the bank’s collapse to a combination of factors, including rapid rate hikes by the Federal Reserve and negative sentiment amplified by social media. ...

Jamie Dimon, the CEO and chairman of JPMorgan Chase & Co (NYSE: JPM), expressed concern about the impact of potential Federal Reserve overregulation on American banks. His remarks come in the wake of several significant banking failures this year, including Signature Bank (OTC: SBNY),...

The U.S. is reportedly set to exempt smaller banks from kicking in extra money to refill the government's deposit insurance fund and instead saddle the biggest lenders with bulk of the bill. What Happened: The Federal Deposit Insurance Corporation is likely to release a highly anticipated proposal...

U.S. government agencies are examining Goldman Sachs Group Inc.'s (NYSE: GS) participation in Silicon Valley Bank's efforts to raise money in March.  What Happened: In early March, the New York-based financial institution purchased a $24-billion portfolio of distressed...

The current banking crisis has claimed the scalp of three banks and another is teetering on the brink. Hedge fund manager Bill Ackman, who has been vociferous throughout the development, discussed the crisis again in a lengthy tweet. What Happened: The regional banking system is at risk, said...

The Federal Reserve Board on Friday issued a review of Silicon Valley Bank's failure, led by Vice Chair for Supervision Michael Barr. The report found that Silicon Valley Bank's (SVB) senior leadership and board of directors failed to manage risks, and Federal Reserve supervisors did not...

The aftermath of SVB Financial Group's Silicon Valley Bank collapse rocked the financial world, and investors have been keeping a close eye on regional banks' volatile stocks affected by the significant bank failure. Overall sentiment on the Street is that most regional banks are...

U.S. Senate Commerce Committee Ranking Member Ted Cruz (R-Texas) and House Judiciary Chairman Jim Jordan (R-Ohio) sent a bicameral letter to Federal Reserve Bank of San Francisco President Mary Daly on Tuesday, demanding immediate answers on Silicon Valley Bank's collapse. What Happened: "The San...

A member of the U.S. Congress could find himself in hot water for some questionable trades around bank stocks prior to the takeover of a collapsed bank by the FDIC and the declining price of many stocks in the sector. What Happened: Rep. Josh Gottheimer (D-NJ) has been one of the most prolific...

Chris Harvey, head of the equity strategy at Wells Fargo Securities, reportedly expects the S&P 500 to see a 10% correction in the next three to six months, dragged by worsening economic conditions. What Happened: "In our view, equity downside will be driven by worsening economic conditions, a...

Mike Novogratz, CEO of Galaxy Digital, a crypto focused financial services firm, on Tuesday, weighed in on Bitcoin‘s (CRYPTO: BTC) rise above the $30,000-mark. What Happened: Novogratz said the surge has been largely community-driven rather than influenced by larger institutional investors,...

The Federal Reserve's handling of the monetary policy in the current tightening cycle has drawn criticism from a section of economists and corporate executives. Tesla CEO Elon Musk has in the past voiced his disgruntlement over the central bank's aggressive rate hikes and warned of dire...

Federal Reserve Bank of New York President John Williams reportedly said on Monday that he doesn't think the pace of rate hikes caused the crisis at the two banks back in March. What Happened: The vice-chairman of the Federal Open Market Committee was referring to the failures of Silicon Valley...

Silicon Valley Bank’s (SVB) unanticipated collapse sent shockwaves across the global banking sector and created market panic. Benchmark S&P 500 and Dow Jones Industrial Average indexes recorded their worst performance since June last year as the 16th-largest bank in the U.S. crumbled....