Cointelegraph breaks down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explains what this all could mean for crypto.
SVB Collapse Shows the Rot in U.S. Banking and Dollars
Stop Blaming Crypto for Traditional Finance Failures
After the recent collapse of three banks – Silicon Valley Bank, Silvergate Bank and Signature Bank – many pointed fingers at crypto as the cause. But crypto may actually be the solution, not the problem.
Stop Blaming Crypto for Traditional Finance Failures
After the recent collapse of three banks – Silicon Valley Bank, Silvergate Bank and Signature Bank – many pointed fingers at crypto as the cause. But crypto may actually be the solution, not the problem.
US credit crunch means it’s time to buy gold and Bitcoin: Novogratz
The Galaxy Digital CEO predicts tough times ahead for the United States economy but continues to be bullish on crypto.
Bitfury CEO: U.S. Government Using Crisis to Choke Off Crypto Access to Banks
Brian Brooks, former head of the OCC and now board member of blockchain technology company Bitfury, says the recent crackdown by regulators on three crypto-friendly banks appears to be a coordinated effort and what some are dubbing “Operation Choke Point 2.0”
Silvergate Was Not Cut Off From Loans, FHLB Says
The Federal Home Loan Bank of San Francisco, the bank that supplied $4.3 billion to Silvergate late last year, did not force Silvergate to repay the advances which have been rumored to be the reason why the crypto-friendly bank had to go into voluntary liquidation, it said.
Crypto Must Do Better to Be Banked, Say Industry Executives
The downfall of Silvergate, Signature and Silicon Valley banks have wounded digital assets. But crypto might one day work with big banks if the industry can mature, WAX CEO William Quigley and Maicon CEO Alex Liu suggested.
Gibraltar’s Xapo Bank Enables GBP Payments, Prepares USDC Option Amid U.S. Crypto Banking Crisis
The retail-focused bank will be allowing users to make payments directly to and from ther U.K. accounts or wallets.
Banking Crisis in U.S. Likely to Push Crypto Firms Offshore
Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says
While Signature’s Barney Frank referred to the recent events with SVB as an “anti-crypto message,” Trezor’s Josef Tetek says they are “definitely good” for Bitcoin.
SVB crisis: Here are the crypto firms denied exposure to troubled US banks
Some of the biggest firms in crypto have denied exposure to any of the failed banks in the United States.
Santander, HSBC, Deutsche and Others Still Willing to Serve Crypto Clients After Banking Failures, DCG Says
Major banks are still willing to work with crypto firms though they may implement service restrictions, according to messages viewed by CoinDesk.
US Fed faces internal probe over Silicon Valley Bank failure
Federal Reserve chair Jerome Powell said a “careful and thoughtful” review is needed to understand how the bank collapsed under its watch.
Silvergate and SVB bite the dust: Law Decoded, March 6–13.
Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures.
BlockTower Capital Funds Had Exposure to Silvergate, Signature Bank
Four funds with about $940 million in gross asset value had exposure to the custodians, as of May 2022.
The Banking Crisis Is Not Crypto’s Fault
Crypto might have a banking problem, but banks don’t have a crypto problem.
Crypto investment products see largest outflows on record amid SVB collapse
Fear and trepidation spread across the crypto market last week following the high-profile collapses of Silvergate Bank and Silicon Valley Bank.
US bank bloodbath: Bitcoin hits $23.7K as BTC price analyst calls SVB dip ‘bear trap’
Bitcoin price is up nearly 20% in days as Wall Street opens to multiple bank stocks halted due to extreme losses.
Bitcoin price flash spikes to $50K on Binance after USD Coin peg snaps
The market frenzy that started with the Silicon Valley Bank collapse is pushing BTC price higher but with some casualties left behind.