Signature Failures, SVB, Silvergate: Effects on the Crypto Industry

A man entering Signature Bank in New York on March 12, 2023. Reuters Two of the most crypto-friendly banks and the biggest bank for tech startups all failed in less than a week. As cryptocurrency prices rallied late on Sunday after the federal government stepped in to provide a safety net for depositors at two … Read more

US Fed announces $25 billion in funding to support banks

In the wake of several banking meltdowns in the United States, the Federal Reserve announced $25 billion in funding to support banks and other depository companies. The funds would ensure that eligible banks have enough liquidity to cover their customers’ needs in turbulent times. @federal reserve announces Bank Term Funding Program (BTFP) to support U.S. … Read more

US stock futures rally as Fed acts on banks US authorities act to stabilize banks Markets speculate on less aggressive Fed hikes Short-term Treasury yields fall, Fed futures jump SYDNEY, March 13 (Reuters) – U.S. stock futures rallied in Asian trade on Monday as authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB), while investors were betting … Read more