The Federal Reserve has begun an investigation into the causes of Silicon Valley Bank's (SVB) collapse. The agency will evaluate the oversight and regulatory methods utilized by the collapsed financial institution. The Federal Reserve appointed Vice Chair for Supervision...
The US Commodities Future Trade Commission (CFTC) has formed a new Technology Advisory Committee (TAC) and appointed several notable members from the crypto and blockchain industry. Today @CFTCcgr announced the membership of the newly constituted Technology Advisory Committee, its...
The US Federal Deposit Insurance Corporation (FDIC) attempted to sell Silicon Valley Bank (SVB) through an auction on March 12, 2023, but the auction failed to attract any buyers. The primary goal of this auction was to raise sufficient...
Circle has announced Cross River Bank as its new commercial banking partner for the production and redemption of the US Dollar Coin (USDC). Circle’s USDC operations will open for business on Monday morning, including with new automated settlement via...
The President of the United States, Joe Biden, has promised to ensure that those responsible for the downfall of Silicon Valley Bank and Signature Bank are held accountable. He also stated that depositors need not worry about their funds'...
Renowned Japanese automaker, Nissan, has joined other automobile manufacturers in embracing Web3 technology. The company recently applied for four new NFT and Metaverse trademarks in the United States. Additionally, its Japan unit is experimenting with metaverse auto sales. The...
According to reports, the now-defunct Signature Bank held funds for several crypto companies, including crypto exchange Coinbase, bankrupt crypto lender Celsius, and stablecoin issuer Paxos. Recall that on March 12, the Federal Deposit Insurance Corporation (FDIC) and New York...
Questions are being asked about USDC stablecoin issuer, Circle's exposure to failed U.S. banks, Silvergate Bank and Silicon Valley Bank. This is because Circle published a USDC Reserve Report last week accompanied by an Attestation by the global Audit...
Silicon Valley Bank (SVB), a significant financial institution that caters to venture-backed businesses in California, was closed down by the state's financial regulators on March 10, 2023. This incident is being described as the second-largest failure of a financial...
The U.S. Department of Justice (DOJ) has appealed against the court ruling in favour of the proposed asset acquisition deal between Voyager Digital and Binance.US. The appeal was filed one day after Judge Michael Wiles granted Voyager Digital permission...
