Tagged: svb

Tether Claims it Has $1.6B in Excess Reserves to Back Stablecoin USDT

Crypto-asset firm Tether claims it has approximately $1.6 billion in excess reserves in order to fully back the issuance of its USDT stablecoin. Tether expects to record a $700 million profit in this latest March 2023 quarter, which will be taking its total excess reserves… Read More

After SVB Collapse, Monetary Authority of Singapore Says City-State’s Banking System Remains Sound, Resilient

The Monetary Authority of Singapore (MAS) recently said that Singapore’s banking system “remains sound and resilient amid heightened volatility in global financial markets following the recent closure of banks in the US.” The Singapore Dollar money market and foreign exchange market “continue to function well.”… Read More

Business Insurance Firm Vouch Pledges Support for Silicon Valley Bank

Vouch reportedly joins peers like Fintech Unicorn Brex in order to support Silicon Valley Bank (SVB) and “reinforce the startup ecosystem’s health and stability.” In an effort to ensure the ongoing health and stability of the startup ecosystem, Vouch announces its commitment “to continue working… Read More

Liquidity Group Plans $3B Emergency Loans to Help Firms Affected by SVB Collapse

Global asset manager and tech lender Liquidity Group is reportedly planning “to offer about $3 billion in emergency loans to start-up clients hit by the collapse of Silicon Valley Bank.” Liquidity has “about $1.2 billion ready in cash to make available in the coming weeks,”… Read More

Fintech Brex CEO Is Reportedly Planning to Secure $1B+ to Provide Loans to Firms Affected by Silicon Valley Bank Demise

A Fintech firm’s Chief Executive Officer is reportedly attempting to secure over $1 billion in order to fund bridge loans for startups that have been affected by the spectacular collapse of Silicon Valley Bank (SVB). Fintech Unicorn Brex CEO Henrique Dubugras recently revealed that he’s… Read More

VC Tasneem Dohadwala, Founding Partner of Excelestar Ventures, Comments on Silicon Valley Bank Failure

Tasneem Dohadwala, Founding Partner of VC Excelstar Ventures, has shared her thoughts on the demise of several banks and the federal government’s decision to guarantee all deposits. Some observers have criticized the “government bailout” while others have noted that if the Feds had not taken… Read More

Department of Justice, SEC Investigating Failure of Silicon Valley Bank – Report

The US Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) have launched investigations into Silicon Valley Bank’s (SVB) failure. Last Friday, federal regulators took over the bank as customers rushed to pull money out of the bank due to concerns about its… Read More

Federal Reserve to Review Silicon Valley Bank’s Supervision Following Failure

The Federal Reserve Board has announced that Vice Chair for Supervision Michael S. Barr will be leading a review of the supervision and regulation of Silicon Valley Bank, in light of its failure. The Fed said the review would be publicly released by May 1,… Read More

EIS Fund Manager Calculus Comments on HSBC’s Acquisition of Silicon Valley Bank UK

Earlier today, HSBC announced that it had acquired Silicon Valley Bank UK for £1 in a transaction approved by UK banking regulators. SVB has been a top banking firm for venture-backed firms around the world, and its UK operation is perhaps the most prominent. As… Read More

Sigh of Relief: Circle’s Dollar Based Stablecoin USDC Regains $1 Peg

Following the announcement last night by federal regulators that all deposits at Silicon Valley Bank (NASDAQ:SIVB) would be guaranteed, Circle CEO issued a statement on the company’s dollar-based stablecoin, USDC, as any risk was eliminated from Circle’s relationship with SVB. As was reported last week,… Read More

Germany’s Bundesbank Convenes Financial Crisis Team to Assess Impact of Silicon Valley Bank Demise

The Bundesbank reportedly convened its crisis team on Monday (March 13, 2023) in order to assess the impact of the fallout of the US-based lender Silicon Valley Bank (NASDAQ:SIVB) on the domestic market, even while no emergency action or measures were expected in Europe. As… Read More

Republic Reports Limited Exposure to Failed Bank Silicon Valley Bank

Republic, the largest securities crowdfunding platform in the world, has distributed a note indicating that it has “limited exposure” to Silicon Valley Bank (NASDAQ:SIVB), the top venture-focused bank that is based in California but also has a significant presence in other top innovation hubs. Republic… Read More

Silicon Valley Bank UK Insolvent, Tech Founders Appeal to UK Government

Following an initial statement that it held a separate balance sheet from Silicon Valley Bank (NASDAQ:SIVB) in the US, Silicon Valley Bank UK has announced it will move into insolvency following a discussion with UK banking regulators. SVB UK took on a similar role to… Read More

Petal Closes $125 Million Debt Facility From SVB & Trinity Capital

Petal, a credit card startup pioneering “Cashflow Underwriting” as an alternative to traditional credit scoring, announced on Wednesday it has closed a new committed debt facility, totaling more than $125 million. According to Petal, the new facility includes $100 million from Silicon Valley Bank (SVB), the bank… Read More

London-based Fintech TotallyMoney Raises £5 Million from Silicon Valley Bank

London-based TotallyMoney, a Fintech firm that helps its clients make better financial decisions by putting them right at the center of their credit data, has reportedly raised £5 million (appr. $6.5 million) from Silicon Valley Bank (SVB). TotallyMoney’s management says it aims to make financial… Read More

SVB Says UK Startups Cautious, Fear Brexit & Challenged by Finding Right Talent

The Silicon Valley Bank (SVB) has published their report on the state of the Startup scene in the UK.  And, according to the authors, the UK is preparing for a “new reality” as a “healthy recalibration” is occurring. The UK has been a hotbed for… Read More

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