Tag: FTECH
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The US FDIC is telling Signature Bank’s crypto customers to close accounts before April 5
March 28 (Reuters) – The US Federal Deposit Insurance Corp (FDIC) has informed collapsed lender Signature Bank’s (SBNY.O) crypto clients that they have until April 5 to close their accounts and move their funds. The deposits in question were not part of a rescue deal entered into earlier this month with Flagstar Bank, a unit […]
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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 […]
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Wall Street ends volatile week higher as Fed officials ease banking fears
The KBW Regional Bank index is recovering US-listed shares of Deutsche Bank slide Actvision surges as regulators drop concerns over Microsoft deal Indexes up: Dow 0.41%, S&P 0.56%, Nasdaq 0.31% NEW YORK, March 24 (Reuters) – US stocks closed higher on Friday, marking the end of a tumultuous week in which Federal Reserve officials calmed […]
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The US SEC threatens to sue Coinbase for some crypto products
March 22 (Reuters) – The US Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc (COIN.O) over some of the crypto exchange’s products, straining the largely unregulated industry to stand. Shares of Coinbase fell nearly 13% to $67.33 in extended trading after the company said Wednesday that the regulator had issued it […]
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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 […]
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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 […]
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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 […]
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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 […]
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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 […]