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US politicians Warren and Ocasio-Cortez probe Circle, BlockFi on SVB relationship

0xMain
April 12, 2023

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Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez are questioning some of the largest depositors of the now-fallen Silicon Valley Bank (SVB), including USDT issuer Circle and bankrupt BlockFi. The lawmakers are seeking information about the companies’ relationship with SVB. The lawmakers sent letters...

FDIC reportedly places SVB funds, including customer deposits, under receivership

0xMain
April 2, 2023

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A fortnight after the newly appointed Silicon Valley Bank (SVB) chief executive officer (CEO) cheered customers to return funds to the bank, the Federal Deposit Insurance Corporation (FDIC) has reportedly sent emails informing customers that their funds were in receivership. Mayopolous woos depositors ...

Mysterious crypto trader quit FTX and SVB just before they collapsed

0xMain
March 22, 2023

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A crypto trader with an address dubbed Smartestmoney has deposited 7,868 ETH tokens (roughly $14 million) on Binance. They also withdrew $19 million from FTX before its collapse last year. Blockchain analytics platform Lookonchain has revealed that a crypto trader that bills with...

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SVB parent company reportedly considering bankruptcy

0xMain
March 16, 2023

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SVB Financial Group, the parent company of troubled U.S. lender Silicon Valley Bank (SVB), is looking for ways to sell off its assets and is considering entering bankruptcy protection as one of its options. Bankruptcy filing as an option for selling assets According...

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FDIC plans second SVB auction after first failed attempt

0xMain
March 14, 2023

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The US Federal Deposit Insurance Corporation (FDIC) is looking to make another attempt at auctioning assets of collapsed Silicon Valley Bank (SVB) after failing to find a buyer the first time. According to the Wall Street Journal, the FDIC informed Senate Republicans that...

President Biden assures taxpayers SVB and Signature Bank losses contained

0xMain
March 13, 2023

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President Biden has assured the senate banking committee that taxpayers will not bear the brunt of any potential losses incurred by SVB Financial Group and Signature Bank, in response to concerns about their financial soundness. According to president Biden, U.S. taxpayers will not...