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” FDIC bidding for Silicon Valley Bank is in progress: Report “ The United States Federal Deposit Insurance Corporation (FIDC) started an auction process on March 11 night for Silicon Valley Bank, Bloomberg reported citing unnamed sources. Bids are allegedly open for just a few hours, before the process closes later this Sunday. According to…
” UK regulators moving “at pace” to deliver a plan for tech firms hurt by SVB collapse “ A plan to rescue startups and tech companies affected by the Silicon Valley Bank collapse is underway in the United Kingdom, according to multiple reports on March 12. The emergency plan will include a cash lifeline to…
” Over 100 VCs, investors voice solidarity with Silicon Valley Bank “ As the 40-year-old banking institution, Silicon Valley Bank (SVB), winds down operation, numerous venture capitalists and investors joined hands and decided to cushion the impact in case the bank “were to be purchased and appropriately capitalized.” Approximately 125 VCs and investors signed a…
” Bill Ackman warns US gov’t: Fix mistake in ‘48 hours’ or face ‘destruction’ “ Billionaire Bill Ackman has urged the United States government to “guarantee” all deposits held by Silicon Valley Bank (SVB) within the next “48 hours,” or it risks the “destruction” of many financial institutions. In a Mar. 11 tweet, Bill Ackman,…
” Silicon Valley Bank’s UK branch shut down by Bank of England “ The Bank of England (BoE) has halted the operations of Silicon Valley Bank’s U.K. branch (SVB UK), stating that it has a “limited presence” in the United Kingdom (UK) and no “critical functions” supporting the financial system. BoE issued a statement on…
” Filing shows BlockFi has uninsured $227M in Silicon Valley Bank MMMF “ According to a new bankruptcy filing, defunct crypto lender BlockFi has $227 million worth of uninsured funds allocated to a money market mutual fund (MMMF) offered by troubled Silicon Valley Bank (SVB). SVB — one of the U.S’s largest banks and key…
” $920B is the number to watch now that crypto’s trillion dollar total market cap is gone “ Big round numbers always pique the interest of investors and the $1 trillion total crypto market capitalization is no exception. It’s a level that held for 48 days before collapsing on March 9. After a 16-hour negative…
” US bank woes? Silicon Valley Bank stocks plunge 1 day after Silvergate downfall “ Fears have been heightened over the future of another United States bank this week after Silicon Valley Bank (SVB) announced a significant sale of assets and stocks aimed at raising additional capital. However, some investors may be concerned that not…
“Elon Musk assistant Steve Davis slept in Twitter HQ with family” An Elon Musk loyalist who is in the running to assume the chief executive officer role at Twitter slept inside the social media company’s San Francisco headquarters with his partner and their newborn just days after she gave birth, it has been reported. Steve…
” A Supreme Court case could kill Facebook and other socials — allowing blockchain to replace them “ The internet — arguably the greatest invention in human history — has gone awry. We can all feel it. It is harder than ever to tell if we are engaging with friends or foes (or bots), we…