Tagged: svb

Silicon Valley Bank is Re-Animated, Announces New Digital Banking Services

Silicon Valley Bank became emblematic of the problems with the banking industry. As the US Federal Reserve increased benchmark rates at an unprecedented speed, SVB did not adjust rapidly enough and found a huge hole in its balance sheet. Debt securities have an inverse relationship… Read More

Silicon Valley Bank Appoints Head of Global Payments, Head of Global Digital Solutions

Silicon Valley Bank (SVB), a division of First Citizens Bank, announced Martin Murrell has been named Head of Global Payments and Milton Santiago was named Head of Global Digital Solutions. The new leaders will further SVB’s commitment “to innovative products, client solutions and exceptional client… Read More

Personal Finance Firm Achieve Secures $50M Warehouse Facility from Silicon Valley Bank

Silicon Valley Bank (SVB), a division of First Citizens Bank, announced that it has provided a $50 million warehouse facility to Achieve, the leader in digital personal finance. Achieve provides personal loans “to help with debt and cash flow, home equity lines of credit, as… Read More

Perspective: Is the Banking Crisis Back?

The fall of Silicon Valley Bank (SVB), the emergency merger of Credit Suisse with UBS, and most recently, the seizure and sale of First Republic Bank quickly dissipated much of the trust that had been slowly returning to the banking sector. The question remains: if… Read More

EquityZen Comments on Private Markets Following Demise of Silicon Valley Bank

The demise of Silicon Valley Bank (SVB) left a big hole in the early-stage/private firm ecosystem. SVB was a favorite bank of VCs and hence the companies they invested in.  The failure of SVBs has exacerbated the already challenging funding environment for private firms that… Read More

Binance.US Struggles to Find a Bank Following Collapse of Silvergate, SVB: Report

Binance.US is having a hard time parking cash in a bank following the collapse of Silvergate Bank and Silicon Valley Bank (SVB). According to a report by WSJ.com, Binance.US is working with a “middleman” to manage cash for dollar deposits – said to be Prime… Read More

Federal Bank Regulators Return to the Hill to Discuss Bank Failures, House Financial Services Committee to Examine Events that Led to Bank Crisis

Federal regulators will return to Capitol Hill today to continue the discussion on the events that led up to the failure of multiple banks at a hearing of the House Financial Services Committee. Yesterday, regulators testified in front of the Senate Banking Committee. While little… Read More

First Citizens Bank Acquires Silicon Valley Bank as Whole Bank Purchase, Shares Jump on the News

First Citizens BancShares, Inc. (Nasdaq: FCNCA) has entered into an agreement with the Federal Deposit Insurance Corporation (FDIC) to purchase all of the assets and liabilities of Silicon Valley Bridge Bank, N.A. SVB failed earlier this month and was taken over by regulators as its… Read More

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