• Alibaba founder Jack Ma returns to China, ending a year abroad -SCMP

    BEIJING, March 27 (Reuters) – The founder of Alibaba (9988.HK), Jack Ma, has returned to China, the South China Morning Post (SCMP) reported Monday. the sober mood of China’s private companies. Ma, one of China’s best-known entrepreneurs, left mainland China in late 2021 and has been seen in photos in Japan, Australia and Thailand in […]

  • Cryptoverse: Bitcoin passes bank stress test

    21 March (Reuters) – As the crisis haunts the traditional world of stocks and bonds, bitcoin suddenly looks like a safe haven. The notoriously volatile cryptocurrency seems positively healthy and savory, just as a banking collapse drives markets into the arms of a recession. Bitcoin is up 21% this month, while a choppy S&P 500 […]

  • US considering new fund to cover deposits as more banks fail, Bloomberg News says

    March 11 (Reuters) – The US Federal Reserve and the Federal Deposit Insurance Corp are considering the creation of a fund that would allow regulators to cover more deposits at banks troubled by the collapse of Silicon Valley Bank, Bloomberg News reported on Saturday. Regulators discussed the new dedicated vehicle in talks with bank executives […]

  • Circle secures market after stablecoin breaks USDC dollar peg

    LONDON, March 11 (Reuters) – Stablecoin USD Coin (USDC) lost its dollar peg and fell to an all-time low on Saturday before recouping most of its losses after Circle, the company behind it, assured investors that despite exposure to the bankrupt Silicon Valley Bank. Circle said in a tweet Friday that it holds $3.3 billion […]

  • Silicon Valley Bank stock slides on stock sale plan to cope with cash burn

    Deposits fall faster than predicted – SVB Capital raise, PE injection, asset restructuring to help The stock plummets 42% in afternoon trading March 9 (Reuters) – Shares of SVB Financial Group (SIVB.O) fell 42% on Thursday, a day after the lender launched a $1.75 billion share sale to strengthen its balance sheet and deal with […]

  • Crypto-focused bank Silvergate plans to scale down after FTX’s blow

    March 8 (Reuters) – Crypto-focused bank Silvergate Capital Corp (SI.N) said on Wednesday it planned to wind down operations and voluntarily liquidate after it was hit with losses following the dramatic collapse of crypto exchange FTX, causing its shares to drop 35% in after hours trading. The decision to close the bank comes after the […]

  • Silvergate’s deepening crisis shocks crypto stocks

    Silvergate shares close 6.4% lower Bank suspends crypto payment network Fallout is dragging down several crypto stocks March 6 (Reuters) – Shares of Silvergate Capital Corp (SI.N) fell as much as 11% on Monday after the bank suspended its crypto payment network and cast doubt on the viability of its business. The stock closed the […]

  • FTX’s Singh pleads guilty as pressure mounts on Bankman-Fried

    NEW YORK, Feb. 28 (Reuters) – Nishad Singh, the former technical director of now-bankrupt cryptocurrency exchange FTX, pleaded guilty to US criminal charges on Tuesday and agreed to cooperate with prosecutors’ investigation into FTX founder Sam Bankman Fried. “I’m incredibly sorry for my role in all of this,” Singh said, adding that in mid-2022 he […]

  • Bankman-Fried faces more criminal charges, allegedly concealing political donations

    NEW YORK, Feb. 23 (Reuters) – Sam Bankman-Fried was hit with new criminal charges on Thursday, in a wide-ranging indictment that charged the founder of the now-bankrupt FTX cryptocurrency exchange with conspiracy to make more than 300 illegal political donations . Bankman-Fried now faces 12 criminal charges, including four for fraud and eight for conspiracy, […]

  • Cryptoverse: Tether tightens grip on the wobbling world of stablecoins

    21 February (Reuters) – The world of stablecoins is suddenly looking shaky. Seismic shifts may be taking place in the $137 billion market after New York-based Paxos Trust Company, which coins Binance’s stablecoin, said it would stop issuing new BUSD tokens after US regulators declassified the asset as a non-profit. registered effect. The US move […]