Approximately 125 VCs and investors signed a statement supporting Silicon Valley Bank as a way to limit the fallout of the bank’s collapse and subsequent extinction of tech companies. 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...Continue Reading

Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired. Billionaire Bill Ackman has urged the United States government to “guarantee” all deposits held by Silicon Valley Bank (SVB) within the next “48 hours,” or it risks the “destruction” of many financial institutions. In a Mar. 11 tweet, Bill...Continue Reading

Given Silicon Valley Bank’s direct involvement in destabilizing USDC prices, CZ blamed banks for increasing the risks of stablecoins. The death spiral of the Terra (LUNA) and TerraUSD (UST) ecosystem served as a catalyst to the 2022 bear market — causing losses in the millions, damaging investor sentiment and intensifying the regulatory spotlight over cryptocurrencies....Continue Reading

A petition urging regulators to step in claims that nearly 40,000 of all depositors at Silicon Valley Bank are small businesses. Federal Reserve and Federal Deposit Insurance Corporation (FDIC) decisions concerning the future of Silicon Valley Bank may affect regional banks across the United States, putting trillions of dollars at risk of a bank run,...Continue Reading

Several USD Coin holders have fled to other stablecoins amid fears surrounding its solvency. Several USD Coin (USDC) holders have fled to other stablecoins since March 10 amid fears surrounding its solvency following the disclosure that a small portion of USDC’s collateral was held at Silicon Valley Bank. However, not all of them had success...Continue Reading

Several U.K. venture capital firms have shown support for SVB UK stating it is a “trusted” partner and plays a “pivotal” role in supporting startups. The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” and no “critical functions” supporting the...Continue Reading

Bank run on Silicon Valley Bank, USDC depegged from U.S. dollar and FTX’s bankruptcy expenses hit $34 million in January. Top Stories This Week Silicon Valley Bank shut down by California regulator, holding over $5 billion for prominent crypto VCs Silicon Valley Bank (SVB) was shut down by Californias financial watchdog on March 10 after...Continue Reading