UBS (UBS), the bank that bought Credit Suisse for about $3 billion, fell 0.9% after being downgraded to Hold from Buy by Jefferies analysts. Activision Blizzard (ATVI) rose 5.9% after the UK Competition and Markets Authority said it no longer feared Microsoft (MSFT) would use its $68.7 billion deal to video game maker hooks Call … Read more
Bitcoin and other cryptocurrencies were gaining on Friday after a volatile but dynamic week. However, Saturday and Sunday promise to be a challenge for crypto traders, with a lack of liquidity in the markets likely to exacerbate price swings. The price of Bitcoin has risen 1.5% in the past 24 hours to $28,100, bringing it … Read more
Good morning! Welcome to Distributed Ledger. Meet Frances Yue, crypto reporter at MarketWatch. Coinbase crypto exchange PIECE OF MONEY said Wednesday that he received a Wells notice from the Securities and Exchange Commission, which could lead to formal charges. The SEC’s Wells notice related to an unspecified portion of the exchange’s listed digital assets, its … Read more
In this photo illustration the Coinbase logo seen displayed on a smartphone screen. Raphael Henrique | SOPA Images | Light flare | Getty Images The Securities and Exchange Commission issued a notice to crypto exchange Coinbase a Wells, warning the company that it had identified potential violations of US securities law. Coinbase shares fell about … Read more
The SEC unveiled charges against diplomat Justin Sun for fraud and securities violations, while also charging celebrities including Jake Paul and Lindsay Lohan. The charges relate to Sun’s alleged business manipulation of two crypto tokens and celebrity endorsements that did not disclose compensation. The solicitation violations were almost all settled without admission or denial of … Read more
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
Silvergate and Signature were the two main banks for crypto companies, while Silicon Valley Bank had many crypto startups and VCs as customers. The failure of the crypto banking trifecta rippled through the stablecoin market over the weekend. On Sunday evening, when the feds stepped in to secure deposits at Signature and SVB, cryptocurrencies rallied … Read more
Last updated: March 12, 2023 at 7:22 p.m. ET First published: March 12, 2023 at 6:35 p.m. ET State authorities shut down New York-based Signature Bank SBNY on Sunday after regulators shuttered Silicon Valley Bank on Friday in the biggest bank failure since the 2008 financial crisis. All Signature Bank depositors will be compensated, according … Read more
A sign hangs at the Silicon Valley Banks headquarters in Santa Clara, California on March 10, 2023. Noah Berger | AFP | Getty Images More than three hundred venture capitalists have signed a joint statement pledging to do business again with Silicon Valley Bank if it is “purchased and capitalized appropriately” after the financial institution … Read more