The Silicon Valley Bank primarily financed tech start-ups. (Representational) Silicon Valley Bank (SVB) recently celebrated making Forbes magazine’s annual ranking of the best banks in America. In a tweet on Monday, the bank expressed its pride in being on Forbes’ list for the fifth consecutive year, and for being namedRead More →
USD Coin is listed as the second largest “stable” currency worldwide. New York: The supposedly “stable” cryptocurrency USDC fell sharply after the firm that created it, Circle, announced it holds $3.3 billion in failed Silicon Valley Bank (SVB) and has dropped its peg to the dollar. Circle said late FridayRead More →
US regulators overseeing the emergency breakup of SVB Financial Group are racing to sell assets and make a portion of clients’ uninsured deposits available as soon as Monday, according to people with knowledge of the situation. Also Read: Will Silicon Valley Bank (SVB) crisis dictate Indian stock market next week?Read More →
Vijay Shekhar Sharma, founder and Chief Executive Officer, Paytm on Saturday clarified that the Silicon Valley Bank (SVB), which was one of its first investors, fully exited with handsome returns on their total investment of only $1.7 million. The Paytm boss said SVB is not a shareholder anymore. Sharma’s tweetRead More →
Two California lenders collapse in the midst of a single week (Representational) California: On Monday, the head of the Federal Deposit Insurance Corp. warned a gathering of bankers in Washington about a $620 billion risk lurking in the US financial system. By Friday, two banks had succumbed to it. WhetherRead More →
Two ways. Gradually, then suddenly. That is how Silicon Valley Bank (svb), the 16th-largest lender in America, with about $200bn in assets, went bust. Its financial position deteriorated over several years. But just two days elapsed between the San Francisco-based bank’s announcement on March 8th that it was seeking toRead More →
Wall Street’s indexes closed lower on Friday as investors ran for the exits as they stressed out about the health of U.S. banks after regulators had to close a high-profile lender to the technology sector, overshadowing the February jobs report. California banking regulators said they closed SVB Financial Group toRead More →
