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SVB Employee Who Lost $1 Million In Equity Awards Recounts The Harrowing And 'Crazy' Moment Bank Collapsed: 'There Was Shock'
Sunday, March 26, 2023 - 11:37am | 771Employees at the now-defunct Silicon Valley Bank have gone through harrowing experiences in the wake of its collapse, and one recently recounted the mental trauma they went through the day the bank failed. Nervous Early Days: Communication from SVB’s management both to clients and the...
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Collapsed Silicon Valley Bank Gets Two Suitors After Being On The Block For Weeks: Report
Sunday, March 26, 2023 - 9:43am | 289First Citizens BancShares (Nasdaq: FCNCA) and Valley National Bancorp (NASDAQ: VLY) have tabled separate bids for Silicon Valley Bank, Bloomberg has reported, citing people familiar with the matter. For the last two weeks, the Federal Deposit Insurance Corporation (FDIC) has been trying...
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Silicon Valley Bank Could Have Ruined The Cannabis Industry: Here's Why
Friday, March 24, 2023 - 4:42pm | 977With marijuana being classified as a Schedule I drug under federal law, state-licensed cannabis businesses are cut off from accessing capital financial institutions such as banks. This leads to the question of how economic storms like the one caused by the recent failure of Silicon Valley Bank, a...
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Ross Gerber Thinks Economy Is Decelerating Rapidly And Fed's Worsening It: 'We Are Sort Of In Uncharted Territory'
Friday, March 24, 2023 - 2:22am | 395Gerber Kawasaki CEO Ross Gerber believes the U.S. economy is decelerating rapidly and the Federal Reserve is making it worse. "The actual economy is decelerating quite rapidly here in the United States and the Fed's actions have had the intended consequence. There just needs to be a certain...
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SVB's Private Bank Unit Reportedly Eyed By Citizens Financial
Thursday, March 23, 2023 - 11:57pm | 439Citizens Financial Group Inc (NYSE:CFG) is reportedly constructing a bid to purchase the private banking business of Silicon Valley Bank, which collapsed earlier this month. Citizens, one of the largest U.S. regional banks, is working to submit an offer in the auction of the business, which is...
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Dan Niles Saw The Banking Collapse Coming, Predicted Big Firm Would Get 'Nailed': Now He's Placing Bets On Tech
Thursday, March 23, 2023 - 2:29pm | 585Satori Fund founder and portfolio manager Dan Niles shorted several banks ahead of the collapse. Now he's looking to squeeze profits out of a pair of tech names. What To Know: Among several other names, Satori was short SVB Financial Group (NASDAQ: SIVB) before a bank...
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Janet Yellen's Comments Fail To Calm Investors As First Republic Stock Remains Volatile
Wednesday, March 22, 2023 - 6:02pm | 496Growing concerns about the safety of bank deposits have prompted investors to approach community and regional banks with caution. Recent events, such as the collapse of Signature Bank and SVB Financial Group's (NASDAQ: SIVB) Silicon Valley Bank have raised questions about...
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Silicon Valley Bank Collapse Golden Opportunity for Equity Crowdfunding Portals As Venture-Backed Startups Race for Liquidity
Tuesday, March 21, 2023 - 1:35pm | 1217SVB Financial Group subsidiary Silicon Valley Bank was the 16th-largest bank in the U.S. and was often referred to as the “financial partner of the innovation economy.” But in an unexpected turn of events, shares of SVB Financial fell nearly 60% after the bank announced its plans...
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The Bull, Bear Cases For First Republic Stock As JPMorgan Tries To Rescue The Bank
Tuesday, March 21, 2023 - 12:13pm | 603First Republic Bank (NYSE: FRC) opened about 30% higher on Tuesday, near the middle of Monday’s trading range. The stock has been wildly volatile recently amid uncertainty over whether the bank will survive the crisis of net deposit outflows that caused the recent failure of SVB Financial...
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Bitcoin's Bull Run Is Unstoppable: 5 Experts Forecast Next Highs, Factors Driving the Market
Tuesday, March 21, 2023 - 11:59am | 659As global banks face turmoil, Bitcoin (CRYPTO: BTC) has been experiencing an astonishing rally and its proponents are already looking ahead to the coin's next significant milestone of $30,000. Since March 8, when problems first surfaced around SVB Financial Group's (NASDAQ:...
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Elon Musk Responds To Bill Ackman's Plea To Powell For A Pause Amid Banking Crisis: 'Fed Needs To Drop Rates By At Least…'
Tuesday, March 21, 2023 - 6:06am | 705The Federal Open Market Committee, the monetary policy-setting arm of the central bank, is scheduled to kickstart a two-day meeting on Tuesday. Ahead of the meeting, Pershing Square’s Bill Ackman chimed in on what the Fed should be doing in the wake of the recent adverse developments....
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Nasdaq, S&P 500, Dow Move Higher On Central Bank Liquidity Boost: Analyst Says Potential Relief Rally On Horizon
Monday, March 20, 2023 - 12:29pm | 1542The risk mood on Wall Street recovered Monday, with major equity indices posting gains. Some of the positive sentiment is attributable to the coordinated action announced by five of the world’s biggest central banks to ease liquidity strains. Cues From Past Week’s Trading:...
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SVB Collapse Drags Down NFT Trading Volume by 51%: Report
Sunday, March 19, 2023 - 2:33pm | 361Following the California Department of Financial Protection and Innovation's shutdown of Silicon Valley Bank earlier this month, startups remain uneasy about their future. Likewise, the non-fungible token (NFT) space is struggling to make sense of the banking crisis....
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Report: Silicon Valley Bank's U.K. Subsidiary Handed Out Over $18M In Bonuses Days After HSBC Rescue
Sunday, March 19, 2023 - 12:38pm | 387Silicon Valley Bank's U.K. subsidiary reportedly handed over $18 million in bonuses days after HSBC Holdings Plc (NYSE: HSBC) was roped in as part of a rescue deal to save the institution from insolvency. Payouts to staff, which included senior executives, were given...
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Keep Calm! Warren Buffett — The Big Daddy Of Investments — Rumored To Step In To Stem Banking Crisis
Sunday, March 19, 2023 - 9:34am | 617As the banking crisis in the U.S. unfolded, triggered fears of contagion, and forced the government to stepped in, many on Wall Street were vocal with their opinions. Warren Buffett, one of the biggest all-time investors, however, appeared absent from the conversation. Now, it...