United States Senators Lash Out At Signature’s Executives For Blaming Bank’s Collapse On Crypto After “Reckless” Management

As investigations into Silvergate Banks ramp up, discoveries alongside the blame game from different sources come to light. At a Senate Banking Committee hearing on May 16, Scott Shay, a former executive of Silvergate Bank, gave his statement on the facts leading to the bank’s collapse.

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Binance And Coinbase Temporarily Suspend USDC Conversion After Silicon Valley Bank Collapse

The two biggest cryptocurrency exchanges, Binance and Coinbase, have revealed that they would temporarily suspend USDC conversions on their platforms. This comes in the aftermath of the collapse of US lender Silicon Valley Bank and concerns about its effect on USDC.

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USDC depeg – Everything we know so far as contagion spreads from TradFi banking

What we know so far about the SVB collapse and USDC/DAI depeg (updated): Crypto firm Circle reveals $3.3 billion stuck in SVB DAI/USDC depeg as stablecoin pressure continues after Silicon Valley bank collapse Binance suspended USDC conversions due to volatile market conditions Coinbase suspended USDC conversions “over the weekend while banks are closed” SVB contagion: […] The post USDC depeg – Everything we know so far as contagion spreads from TradFi banking appeared first on CryptoSlate.

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USDC Stablecoin Loses Dollar Peg Following Collapse of Major Banking Partner

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U.S. Lawmakers Met With Fed, FDIC to Discuss Collapse of Silicon Valley Bank: Source

Rep. Maxine Waters convened meetings with federal bank regulators in the wake of the bank's collapse.

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USDC Issuer Circle Says it 'Awaits Clarity' From FDIC on Silicon Valley Bank Collapse

In its first statement following the collapse of Silicon Valley Bank, Circle declined to state how much cash it has tied up at the bank.

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DeFi Protocol Curve’s $500M Stablecoin Pool Hammered as Traders Flee USDC

Curve's 3pool is supposed to have equal parts USDC, DAI and USDT. The trio are becoming imbalanced amid fallout from Silicon Valley Bank's collapse.

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How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout

For all the angst this week about how troubles in the crypto industry are fueling a banking crisis, the reality, so far, is actually something else: Of the two banks that went under, the one squarely focused on crypto – Silvergate Capital – escaped the black mark of a federal bailout.

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What does the Silvergate collapse mean for crypto?

The recent collapse of crypto-friendly bank Silvergate will likely increase regulatory scrutiny on the ties between the crypto industry and the banking sector in the United States.

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Crypto price predictions: Litecoin, Bitcoin Cash, Tron

Cryptocurrency prices plunged to their lowest level in months. This crash happened after the collapse of Silvergate Capital. Silicon Valley Bank’s parent company is at the brisk of collapse.

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4 Potential Winners of the Silvergate Unwind

The collapse of crypto's most visible bank could be an opportunity for stablecoins and other financial services providers.

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Bitcoin Dealt Another Round Of Blows, Is The Bear Market Back?

In another shocking twist that has dealt a severe blow to the price of bitcoin, crypto-friendly bank Silvergate announced that it would be winding down operations as the contagion from the FTX collapse spreads.

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Silvergate shares tumble after company says it’s shutting down crypto bank

Silvergate shares fell sharply after news the crypto-friendly bank would be winding down operations. The company says it will issue full repayments of all customer deposits. Silvergate has been in trouble since late 2022 following the collapse of crypto exchange FTX.

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Silvergate's Collapse May Spell Regulatory Trouble for Crypto

Silvergate Bank had a really rough week, to the point where a not-insignificant number of people were waiting for the Federal Deposit Insurance Corporation (FDIC) to announce the bank had entered receivership after close of business Friday.

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Kraken confirms plans to launch its own bank

Kraken says the crypto bank is on track for launch. The crypto exchange will initially offer the Kraken Bank services to customers in the US. The launch of a new crypto-friendly bank comes at a time the crypto bank Silvergate continues to falter after the collapse of FTX.

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Coinbase, Paxos halt business with Silvergate Bank

Coinbase (NASDAQ: COIN) has announced it is discontinuing its business relationship with Silvergate (NYSE: SI), a crypto-friendly bank that is looking increasingly in trouble following the crypto winter and the collapse of FTX.

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These Crypto Firms Have Decided To Cut Ties With Silvergate

The crypto market continues to lurch from the recent Silvergate crisis. Most recently, the crypto-focused bank, Silvergate, had delayed filing its annual 10-K report with the Securities and Exchange Commission (SEC), which has aggravated its downfall, which was previously precipitated by the collapse of FTX last year.

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Circle, Paxos, Bitstamp and Galaxy join Coinbase in scaling back partnerships with Silvergate Bank

Silvergate is reportedly facing an investigation from the United States Department of Justice over its alleged role in the FTX collapse, involving Sam Bankman-Fried's account.

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Coinbase Halts Payments With Crypto Friendly Bank Silvergate

Silvergate Bank is still suffering from the aftermath of the FTX collapse; it admitted to the SEC yesterday that it was uncertain about its ability to continue operating. Silvergates Insolvency...

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Signature Bank faces charges overlooking FTX fraud

New York-based Signature Bank is facing a lawsuit filed by Statistica Capital, an investment firm that believes the former was involved in FTX’s collapse.  Signature Bank has been accused of partaking in the FTX fraud that was discovered last year.…

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Crypto bank Silvergate suspends preferred stock dividend

Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock. The company’s shares fell more than 11% pre-market after the announcement. Silvergate reported a $1 billion loss in the fourth quarter and also cut its staff by 20% amid the crypto bear market and impact of FTX collapse.

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Ex-India RBI chief says crypto price collapse will unlock ‘true value’ of crypto

Former governor of the Indian central bank Raghuram Rajan said that the collapse in crypto prices last year suggests that the industry has received its deserved fate, according to Reuters. The post Ex-India RBI chief says crypto price collapse will unlock ‘true value’ of crypto appeared first on CryptoSlate.

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Stablecoin collapse could impact U.S. bond market, economist warns

Economist Eswar Prasad warned that a bank run on Stablecoins could fallout into the United States bond markets if issuers sell United States Treasurys to honor redemptions. The post Stablecoin collapse could impact U.

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Crypto Ban Proposed by Bank of International Settlements as Regulatory Approach

To ban, to contain, to regulate: Three approaches suggested by BIS to prevent 2022 collapse from happening again

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Silvergate received a $4.3B bailout after FTX collapse

Silvergate Bank received $4. 3 billion from the San Francisco-based Federal Home Loan Bank last year, following the collapse of crypto exchange FTX, according to the firm’s Q4, 2022 flings. The post Silvergate received a $4.

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Silvergate sold assets at loss to cover withdrawals, laid off 40% of workers

The collapse of FTX sparked a bank run on Silvergate, forcing the financial institution to sell assets at a steep loss to cover some $8.1 billion in withdrawals.

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Cowen Downgrades Coinbase Stock Citing Trading Volume Declines

Cryptocurrency exchange Coinbase (COIN) stock has been downgraded by analysts of investment bank Cowen, citing the ongoing fallout from the collapse of FTX.

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Cowen Downgrades Coinbase Stock, Citing Trading Volume Declines

Cryptocurrency exchange Coinbase (COIN) stock has been downgraded by analysts of investment bank Cowen, citing the ongoing fallout from the collapse of FTX.

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Дмитрий Медведев: CBDC вытеснят доллар и евро

Зампредседателя Совбеза РФ Дмитрий Медведев решил внести «скромный вклад» в собрание гипотез в преддверии 2023 года и представил свои прогнозы на грядущий год. 10. The Bretton Woods system of monetary management will collapse, leading to the IMF and World Bank crash.

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Silvergate stock plummets below the two-year low

Silvergate, a crypto-friendly bank based in San Diego, becomes the latest victim of the crypto downfall. The company released a public statement pleading to have been exposed to the FTX debacle. Silvergate falls victim to FTX collapse Silvergate bank has…

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Binance Sees Largest Bitcoin Withdrawal In Its History, BTC Rally Set To Benefit?

The largest crypto exchange in the world, Binance has experienced the most significant Bitcoin withdrawal in its history, per recent data. The company might face a bank run as crypto investors’ confidence continues to decline following the collapse of trading venue FTX and a U.

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Signature Bank slashes crypto deposits by $10B after FTX crash

Signature Bank (SBNY) has announced it will lower its crypto-linked deposits by $8-10 billion, given the uncertain market conditions in the crypto space after the collapse of FTX.

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Crypto Bank Silvergate Cut to Underweight at Morgan Stanley Following FTX Collapse

Already down more than 50% over the past month, the bank’s shares are lower by another 3% in premarket action Monday morning.

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SBF claims to have only thousands of dollars left in bank after FTX's collapse

SBF claims to be down to a hundred thousand dollars, with almost all of his wealth wiped out with FTX's collapse The former CEO also expressed that there could have been a 50-50 chance for FTX The post SBF claims to have only thousands of dollars left in bank after FTX's collapse appeared first on AMBCrypto.

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JPMorgan: Push to Regulate Crypto to Accelerate After FTX’s Collapse

Crypto derivatives trading is likely to shift to regulated venues, and the Chicago Mercantile Exchange is expected to emerge as a winner, the bank said.

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Silvergate, Provident Bancorp, and Signature Bank Got Burned Playing With Crypto

Several major traditional banks with varying degrees of crypto exposure now find themselves unsure of their next move in the wake of the FTX collapse. The post Silvergate, Provident Bancorp, and Signature Bank Got Burned Playing With Crypto appeared first on BeInCrypto.

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Kucoin On The Spot For Holding Nearly One-Fifth Of Its Reserves In Its KCS Token

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FTX was under US prosecutors radar before collapse

The Attorney's Office of the Southern District of New York was investigating FTX months before its collapse The investigation was related to United States Bank Secrecy Act The most infamous The post FTX was under US prosecutors radar before collapse appeared first on AMBCrypto.

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BoE speculates FTT token fire sale may have sparked FTX collapse, calls for widespread regulation

Bank of England’s (BoE) Deputy Governor for Financial Stability Jon Cunliffe published a speech on November 21, where he said that the FTX collapse was triggered by an run and that the crypto space should be brought under regulation to offer stability.

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Shares of Crypto Bank Silvergate Continue to Fall Despite CEO’s Remarks

Traders seem to be anticipating Silvergate could be significantly affected by the collapse of FTX.

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$2.8B Crypto-Focused Lending Firm Genesis Halts Withdrawals Fearing A FTX-Induced Bank Run

Genesis Global Capital, the crypto lending unit for crypto investment bank Genesis Trading has decided to halt withdrawals in the wake of the FTX collapse. On Wednesday morning, Genesis held a 7-minute call with customers informing them that withdrawal requests for Genesis Capital had exceeded their liquidity capital.

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CryptoSlate Wrapped Daily: Crypto.com CEO dismisses bank run speculation; Alameda Research held tokens before their FTX listings

The biggest news in the cryptoverse for November 14 includes Crypto dot com CEO saying his exchange accidentally transferred 320,000 ETH to Gate. io; Kraken, Coinbase, and Gate. io publishing full proof-of-reserves with liabilities, and Binance launching a recovery fund for strong projects caught up in the FTX collapse.

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Crypto bank Nuri urges customers to withdraw funds before it shuts down

In cryptocurrency news today, crypto bank Nuri, which filed for temporary insolvency in August after a tough year made worse by the collapse of one its business partners and the failure to get an acquirer, is shutting down.

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Bitcoin stable as Credit Suisse, Deutsche Bank rumored to be on verge of collapse

Bitcoin is holding steady amid rumors of a banking collapse, trading between $18,900 and $20,200 over the past three days. The post Bitcoin stable as Credit Suisse, Deutsche Bank rumored to be on verge of collapse appeared first on CryptoSlate.

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Singapore Amps Investigation Of Crypto Firms, Plans On Introducing New Regulations

The Monetary Authority of Singapore (MAS) has instructed certain crypto firms to submit data concerning their business activities. The Central Bank is supposedly going to make certain amendments to the present crypto regulation policies after the collapse of crypto-hedge fund Three Arrows Capital, Terraform Labs and even Vauld.

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Sri Lankan officials maintain crypto snub despite economic collapse

The Central Bank of Sri Lanka (CBSL) reiterated its anti-crypto stance in a new notice dated July 12.  It confirmed that no entities are authorized to carry out digital asset activities, warning that users have no protection should they fall victim to “various types of VC [virtual currency] schemes.

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Policy Makers Should Get On With Regulating Crypto, BOE’s Cunliffe Says

The Bank of England deputy governor said the recent crypto collapse does not mean crypto is ‘over,’ and regulators should accelerate rulemaking.

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BOE Deputy Governor Jon Cunliffe: Crypto Crash Survivors Could Become Future Amazons

Jon Cunliffe, Deputy Governor of Bank of England (BoE) for Financial Stability, posits an imminent emergence of institutional investors with the commercial might of e-commerce giants Amazon and eBay from the rumbles of the current crypto collapse.

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Did Celsius’ Withdrawal Trigger The Terra/ LUNA Collapse? Claim & Response

Did Celsius set off the domino effect? Almost a month ago, The Block Crypto reported that Celsius pulled at least $500M from the Anchor protocol before the collapse. Two weeks ago, blockchain analytics firm Nansen identified Celsius among the seven big wallets that allegedly triggered the bank run on Anchor.

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