The decision to take over Signature Bank was made to reduce depositor outflows and prevent further bank runs.
Shares of First Republic Bank (FRC) have been in the red for the past year, shedding more than 48% in the last twelve months.
According to Goldman Sachs, the relief package that is currently being provided to distressed banks stops short of similar reliefs implemented during the 2008 financial crisis.
According to Bank of London co-founder and CEO Anthony Watson in a statement, the acquisition of Silicon Valley Bank SVB’s assets could be a unique opportunity to grow the banking sector in the United Kingdom.
Compared to the $110 billion recorded in 2021, the Saudi Arabian oil giant’s net income took a significant leap by growing over 46% YoY in 2022.
While many are concerned about what the aftermath of the collapse of Silicon Valley Bank will be in the next couple of weeks and months, Treasury Sec Janet Yellen seems unfazed.
The new text-based content app, codenamed P92, will be backed by ActivityPub – a decentralized social networking protocol.
In its Q4 2022 report, fintech Bakkt also revealed plans to tie up its acquisition of crypto exchange Apex Crypto.
Silicon Valley Bank operating as SVB Financial Group is seeing the worst of its days with its share price plunging by 23.52% in the Pre-Market, following a massive slump of 60.41% on Thursday.
Crypto venture capital firms advised their portfolio companies to pull their investments from American commercial bank Silicon Valley Bank (SVB).
The Biden administration seeks to terminate the tax-loss harvesting strategy for crypto investors which would help the White House save $31 billion over a ten year period.
The office of the NYAG recently filed a lawsuit against crypto exchange KuCoin for “disregarding our laws and putting investors at risk.”
Thanks to AI technology, its Clyde bot can now answer questions and even have extended conversations with users. Besides, it allows users to start a thread for a group of people. The bot can also recommend playlists, and access GIFs and emojis like any Discord user.
The firm said it is advancing to the second phase because of the satisfactory results it got from the first phase of trials.
Mirror, a platform designed as a mainstream publishing outfit for Web3.0 innovators has launched its latest product dubbed “Subscribe to Mint.”