Noted Bitcoin basher and Nobel Prize winner in economics Paul Krugman wrote in the New York Times earlier this week that the demise of Silicon Valley Bank cannot be compared to the bankruptcy of Lehman Brothers in 2008. He may regret that title. The consequences of the collapse of Silicon Valley Bank evoke more and more memories […]
Although three of the most crypto-friendly banks in the United States went bankrupt in recent weeks, we can only note that crypto investors seem unconcerned. Bitcoin, Ethereum and others are just moving higher and the largest digital coin has just hit it’s highest price for the year in the midst of a banking crisis. The […]
European stock markets fell sharply on Monday after the size of the latest US banking crisis became known. In America, losses were limited after the largest banks already fell last week. In the meantime, most of the holes seem to have been closed and we can see who the winners and losers are of the […]
The four main banks for crypto companies in the United States are the Signature bank, the Prime Trust bank, the Silvergate bank and the Silicon Valley Bank (aka SVB). A few hours ago the American authorities decided to also close the Signature bank, while a yes-no game is starting between crypto and banks in the […]
Tesla CEO and richest man in the world Elon Musk provided the best summary of the current situation regarding US banks. With a simple meme, he showed an unknown superhero who had to choose between two possible buttons to press. The explanation for the first one was: crypto is fraud, keep your money in banks. […]
Bitcoin finished its worst week since FTX’s fall last November amid fears that several US crypto companies will lose access to bank credit. A midsized US bank had to be rescued and taken over by the government in order to ensure customer deposits. Fear is growing in the market that other US banks could follow. Silvergate […]
Panic over the solvency of Circle, a major US-based crypto firm, grew overnight and Circle management had to reassure customers that their funds would be protected. USDC, the second-largest stablecoin and fifth-largest cryptocurrency according to market cap, lost its peg to the dollar on Saturday morning as a result of some a good $2 billion […]
After the Federal Reserve sent a first warning this week that interest rates in the US can still be higher in order to slow down the economy and thus bring inflation down, there is now also the (self-elected) bankruptcy of the Silvergate bank, who was the official banker for many crypto companies in the US. […]
Both stocks in the United States and the crypto market reacted rather negatively to the tone of Federal Reserve Chairman Jay Powell earlier this week. After all, he announced that interest rates could be going up for a longer time than foreseen. The AI model that predicts the price of Bitcoin and Ethereum before the […]
The US stock market watchdog SEC (Securities and Exchange Commission) continues its series of repressive actions against crypto companies and seems determined to arrest fraudsters. After the debacles surrounding FTX and the Silvergate bank, the SEC is clearly not prepared to miss another crypto scandal. This time, started a lawsuit against crypto platform BKCoin which […]
