Circle, which issues USD Coin (USDC), said that the $3.3 billion it held with the now-collapsed SVB will be “fully available” on Monday when U.S. banks open.
Category: Finance News
Silicon Valley Bank collapse hits startups as far away as China
The Silicon Valley Bank fallout has ripple effects on Chinese startups.
Bill Ackman says U.S. did the ‘right thing’ in protecting SVB depositors. Not everyone agrees
Billionaire investor and Pershing Square CEO Bill Ackman said the U.S. government’s intervention to protect depositors after the implosion of SVB is “not a bailout.”
Bitcoin jumps 10% with crypto market topping $1 trillion as U.S. creates backstop for SVB depositors
Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the bank’s U.K. arm.
UK’s taxes are at a 70-year high. But its finance minister won’t splash the cash at upcoming Budget
British Finance Minister Jeremy Hunt will deliver the government’s Budget commitments on Wednesday against a better-than-expected economic backdrop.
In his first address, China’s new premier says high quality growth is a priority
China’s new premier Li Qiang said China’s focus was shifting to what it calls high-quality development, such as building up tech and so-called green industries.
Goldman Sachs no longer expects the Fed to hike rates in March, cites stress on banking system
Goldman Sachs no longer sees a case for the Federal Reserve to deliver a rate hike at the FOMC’s March meeting, economist Jan Hatzius said.
We’re looking for stocks to buy for the Club now that regulators saved SVB depositors
We just got a reprieve from a massive wipeout of deposits and companies. We are less likely to have a Fed rate hike.
Wall Street — not taxpayers — will pay for the SVB and Signature deposit relief plans
The funds to reimburse depositors will be paid out of the Deposit Insurance Fund, which is made up of quarterly fees assessed on financial institutions.
U.S. government steps in and says people with funds deposited at SVB will be able to access their money
Banking regulators devised a plan Sunday to shore up deposits at Silicon Valley Bank, a critical step in stemming a feared panic.