Silicon Valley Bank
Bitcoin, Ether Swing From Cold to Hot in Event-Filled Week
The two largest cryptocurrencies have risen 31% and 26%, respectively, even as bank failures, inflation concerns and ETH selling pressure have roiled traditional asset markets.
Bitcoin Flirts With $27K Following Silicon Valley Bank's Failure
Silicon Valley Bank (SVB) failed on March 10, and the price of bitcoin (BTC) has been rallying since then. The narratives around bank failures, stablecoins and interest rate hikes seem strong enough to propel the price of the largest cryptocurrency by market capitalization. CoinDesk Senior Research Analyst George Kaloudis breaks down bitcoin's latest price moves and more in "The Chart of The Day."
Bitcoin Is a Clear Winner of the U.S. Banking Crisis
The narratives around bank failures, stablecoins and interest rate hikes seem strong enough to propel the price of bitcoin, says CoinDesk's George Kaloudis.
SVB Implosion Tanked NFT Trading Volumes, DappRadar Report Suggests
The day after the Federal Deposit Insurance Corp. took control of Silicon Valley Bank, there were only 12,000 active NFT traders, according to DappRadar. That's a number not seen since November 2021. Animoca Brands co-founder and Executive Chairman Yat Siu reacts to this report and discusses his outlook for the NFT market and the broader state of Web3. Plus, insights into Animoca backing Nuqtah, Saudi Arabia's first NFT marketplace platform.
SVB Financial Group Files for Chapter 11 Bankruptcy Protection
Silicon Valley Bank's former parent company SVB Financial Group has filed for Chapter 11 bankruptcy protection. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the latest developments in the U.S. banking turmoil and what it means for crypto.
Silicon Valley Bank's Former Parent Company Files for Bankruptcy
The bank had some crypto customers, including Circle Internet Financial and Ripple.
FDIC Reportedly Asking Banks to Submit Bids for SVB, Signature by Friday
Reuters reports the FDIC is asking banks interested in buying Silicon Valley Bank and Signature Bank to submit their bids by Friday. This comes as liquidity is on everyone’s mind, especially in the face of record drawdowns from the Treasury General Account during the COVID-19 era, and more after the failure of Silicon Valley Bank.
Former FDIC Regulator: Friendliness Toward Crypto 'Does Not Exist'
Efforts to keep crypto companies from the U.S. banking system may have been taking place even before the recent bank collapses, Jason Brett told CoinDesk TV's "First Mover."
Stop Blaming Crypto for Traditional Finance Failures
After the recent collapse of three banks – Silicon Valley Bank, Silvergate Bank and Signature Bank – many pointed fingers at crypto as the cause. But crypto may actually be the solution, not the problem.
