Collapse of Silicon Valley Bank Leaves $175 Billion in Deposits Under Regulatory Scrutiny
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Regulators Shut Down Silicon Valley Bank Today
The Federal Deposit Insurance Corporation (FDIC) closed Silicon Valley Bank after regulators determined that the institution was insolvent. Depositors are now being transferred to other banks in the area. Though…
Silvergates Collywobbles Could Worsen Crypto Banking Industry Troubles
The news of Circle Holdings joining the ranks of crypto-centric firms that have filed for Chapter 11 bankruptcy casts a pall over the burgeoning digital currency marketplace. The company, which…
Silvergate Rusts as Crypto Bank Closes Its Doors
Cryptocurrencies are gaining in popularity and use, with numerous digital coins and tokens available to purchase. With so many different options, it can be tough to choose which is right…
SVB Wiring Restrictions Cause Financial Pains for Customers
Many Silicon Valley Bank customers are struggling to transfer funds out of their bank accounts due to the current banking crisis. The issue is compounded by the fact that bank…
Venture Firms: Pull Money from Silicon Valley Bank
Many venture capitalists are urging their portfolio companies to remove money from Silicon Valley Bank after the storied bank announced this morning that it intended to sell shares in pursuit…
Silvergate Closes its Doors After FTX Dispute Disrupts Crypto Banking
Oakland-based Silvergate Capital Corp. announced Wednesday its intent to wind down operations and voluntarily liquidate the banking unit, which was one of the first banks to offer services related to…
Slice Raises Over US$110M with Bank Investment to Expand its Fintech Reach in India
The acquisition of a 5% stake in the Indian bank North East Small Finance signals that the unicorn fintech startup is keen to expand its footprint in the country. The…
RBI Penalizes Amazon Payments for Violations in India
The Indian central bank’s decision to fine Amazon Pay’s India unit is a sign that the company is not taking its obligations to obey local rules surrounding know your customer…
Hatch Bank Suffers 140,000 SSN Data Breach via Fortra Bug Exploit
Hatch Bank confirmed that hackers exploited a zero-day vulnerability in their internal file transfer software to gain access to thousands of customer Social Security numbers. The company is working with…
