BlockFi Creditors Say Crypto Lender Was a Victim of Bad Management

The creditors committee said in a court filing that BlockFi was pressing a “false case narrative” by portraying itself as a victim, and more blame should be placed on its management.

• 2023-05-16
• Alameda SVB FTX false case narrative BlockFi

Federal Reserve Says Custodia’s Plans Would Endanger Itself and the Crypto Industry

The Federal Reserve Board argued that Custodia Bank’s proposed business model was “inconsistent” with approval in an order explaining its denial of the Wyoming-based crypto bank’s application for membership.

• 2023-03-25
• Federal Reserve Board Fed Signature Bank SVB bank failures bank failure Custodia Bank Custodia

Cathie Wood Spells Out Why Crypto is Gaining During Bank Crisis

Ark Invest's Cathie Wood has been saying all along that certain characteristics of cryptocurrency make it a good bet for the future. In a series of tweets she wrote the evening of March 22, she details her views on some specifics of the ongoing situation and the virtues of crypto. "Ironically, as crypto assets soared during the Silicon Valley Bank meltdown, this administration suggested that investors in regional banks -- equity and bond holders -- should prepare to be 'wiped out' in the after

• 2023-03-24
• Silicon Valley Bank Cathie Wood SVB banking crisis regional banks cryptocurrency

Crypto needs to look abroad as US exchanges go unbanked

The fall of Silvergate, SVB and Signature has left crypto firms scrambling for new banks. Will crypto banking head offshore for the long term?

• 2023-03-21
• traditional banks crypto exchanges Silicon Valley Bank SVB Silvergate Bank

SVB Collapse Reveals a Surprise for Bitcoin

The banking crisis caused by the collapse of Silicon Valley Bank continues to worry investors. Since regulators shut down the California bank, which primarily catered to startups and venture capital firms, all eyes have turned to other regional banks. Then there's the crisis across the Atlantic Ocean: Investor mistrust revolves around Credit Suisse, the Swiss bank weakened by a series of scandals over the past three years.

• 2023-03-17
• Credit Suisse Silicon Valley Bank Michael Saylor Swiss National Bank SVB institutional investors bank account regional banks commercial banks venture capital firms Treasury Department

Cathie Wood complains that regulators unfairly targeted crypto while missing the crisis ‘looming’ in traditional banking

The tech investor argued that problems in traditional banking hurt cryptocurrencies, not the other way around.

• 2023-03-15
• Silicon Valley Bank Cathie Wood Federal Reserve banking system SVB cryptocurrencies Signature Bank

Bitcoin jumps to highest since June as rally gathers pace

LONDON (Reuters) -Bitcoin hit a nine-month high on Tuesday, taking gains past 30% in four days as it shrugged off chaos in global markets after last week's collapse of Silicon Valley Bank and rode expectations that U.S. interest rates won't rise so fast. Bitcoin jumped as much as 9.6% to $26,533, its highest since June 2022, in its fourth straight days of gains. Major cryptocurrencies have been buoyed in recent days by U.S. authorities announcing plans to limit the fallout from the collapse of

• 2023-03-14
• Silicon Valley Bank Bitcoin SVB interest rates global markets

Bitcoin, Ether extend gains as U.S. regulators take charge of banking industry turmoil

Bitcoin and Ether rose the most in the top 10 non-stablecoin cryptocurrencies by market capitalization on Tuesday afternoon in Asia. Cryptocurrencies have been on a rebound since U.S. regulators took charge of the failures in the banking industry and moved to protect deposits across crypto-linked banks.

• 2023-03-14
• market capitalization Federal Reserve banking industry SVB USD Coin Nigel Green

Bitcoin Surges as Bank Client Rescue Eases Contagion Fears, Fuels Hopes for Fed Dovishness; Binance's $1B Conversion Helps, Too

Investment banking giant Goldman Sachs analysts have predicted that the U.S. central bank will not raise interest rates at its next FOMC meeting on March 22, according to a report.

• 2023-03-14
• Silicon Valley Bank Signature Bank Federal Reserve CoinDesk digital assets Martin Leinweber Bitcoin market capitalization SVB Leinweber

Banking Crisis Won’t Kill Crypto-Banking Despite Short-Term Pain

From alternative banks to on-chain banking, crypto banking still has plenty of options, experts say.

• 2023-03-14
• Silvergate Bank Silicon Valley Bank Signature Bank Cross River Bank Western Alliance Bank SVB USDC decentralized finance