Rattled crypto industry could emerge stronger after USDC depeg Did the depegging reveal stablecoins’ limitations, or was it a learning moment? Follow up Own this piece of history Collect this article as an NFT USD Coin (USDC), the world’s second-largest stablecoin, may simply have been in the wrong place at the wrong time. The place was Silicon Valley Bank (SVB), a commercial bank with […]
Silicon Valley Bank was the tip of a banking iceberg Bank forecasting needs to become more than a “check-the-box” motion for regulatory compliance. It needs to be treated as a strategic decision-making tool. Opinion Own this piece of history Collect this article as an NFT Traditional financial institutions take deposits from customers and use them to make loans. But they loan out much more than […]
Breaking: Silicon Valley Bank UK arm acquired by HSBC for one pound Global banking giant HSBC Holdings is coming to rescue the United Kingdom-based branch of the collapsed Silicon Valley Bank with a new acquisition. HSBC officially announced on March 13 that its subsidiary HSBC UK Bank is acquiring Silicon Valley Bank UK Limited for one British pound sterling (GBP), or $1.21. As of March 10, 2023, […]
FDIC bidding for Silicon Valley Bank is in progress: Report The United States Federal Deposit Insurance Corporation (FIDC) started an auction process on March 11 night for Silicon Valley Bank, Bloomberg reported citing unnamed sources. Bids are allegedly open for just a few hours, before the process closes later this Sunday. According to Bloomberg sources, the FDIC is seeking a buyer for the California bank […]
UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse A plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom, according to multiple reports on March 12. The emergency plan will include a cash lifeline to a number of businesses. Prime Minister Rishi Sunak said the government is working "at pace" to deliver a […]
Over 100 VCs, investors voice solidarity with Silicon Valley Bank As the 40-year-old banking institution, Silicon Valley Bank (SVB), winds down operation, numerous venture capitalists and investors joined hands and decided to cushion the impact in case the bank “were to be purchased and appropriately capitalized.” Approximately 125 VCs and investors signed a statement supporting SVB as a way to limit the fallout of the […]
CoinGecko reveals the US state most interested in Bitcoin and Ethereum The Golden State of California may be America's most inquisitive state about Bitcoin (BTC) and Ethereum (ETH), new data from CoinGecko has revealed. In a report shared by CoinGecko, internet users from California accounted for a whopping 43% of all Bitcoin and Ethereum web traffic searches on the crypto tracking website. This is despite the […]
'Pig slaughtering' crypto scams reap millions on Silicon Valley dating apps Lonely hearts in Silicon Valley are reportedly falling prey to a wave of "pig slaughtering” crypto scams via dating apps. An investigator for cybersecurity company Sift found that one in 20 people who approached her on dating apps in San Francisco was working the scam. Pig slaughtering, or butchering, is a type of scam in […]
Netscape creator says Web3 really is like the rise of the early internet Billionaire tech entrepreneur turned venture capitalist, Marc Andreessen says that Web3 and its underlying blockchain technology reminds him of the rise of the early internet. Andreessen, better known today as the co-founder of the blockchain-focused venture capital firm Andreessen Horowitz (a16z), originally found success by developing the first widely used web browser called Mosaic, and […]
It’s Not You, It’s Crypto: Execs Leave Silicon Valley To Join Crypto Startups A few years ago it was an executives’ dream to work at Google, Amazon, Apple, and the other Big Tech firms of Silicon Valley, but now that dream has evolved into crypto startups. Whether it is to join a blockchain-related company or start a new one, high-paying executives and engineers are leaving the valley of […]
Actress Gwyneth Paltrow Invests in Bitcoin Mining Operation Terawulf The American actress and businesswoman Gwyneth Paltrow has participated in an investment round involving the bitcoin mining operation Terawulf. According to reports, Paltrow and a group of investors made a “substantial, 8-digit equity investment” in the company. Paltrow is well known for her involvement with cryptocurrencies and joined the crypto firm Abra in 2017 as […]
