FDIC plans to hold second auction for Silicon Valley Bank
After failing to find a bidder the first time, FDIC is planning to try again to auction off the assets of the defunct Silicon Valley Bank. According to the Wall Street Journal, which cited unnamed sources, the FDIC advised Senate Republicans that the agency had more latitude to sell SVB’s assets once regulators declared the […]
Silvergate Seeks Assistance From US Congress Agency
Silvergate Capital is in discussions with the US FDIC to receive advice on how to stay afloat as its financial problems get worse. One of the many victims of Sam Bankman-Fried’s FTX exchange collapse, Silvergate Capital, recently met with FDIC representatives at its California headquarters to discuss methods to overcome its escalating financial difficulties and […]
US Regulator ‘unfairly’ Pressures Banks To Shun Crypto Companies
Senator Pat Toomey of the United States said that whistleblowers told him that the FDIC was pressuring banks to stop doing business with crypto companies. U.S. Sen. Pat Toomey (R-Pa.) said on Tuesday that he had heard that the Federal Deposit Insurance Corporation (FDIC) might be putting pressure on banks to stop them from doing […]
Non-bank deposits, including crypto businesses, aren’t FDIC insured
FDIC claimed that while deposits at banks with insurance were protected up to $250,000, there was no equivalent protection for deposits made with cryptocurrency businesses. The Federal Deposit Insurance Corporation (FDIC) of the United States has released a statement warning the public that it “does not protect assets created by non-bank businesses, such as cryptocurrency […]
Fed demands Voyager erase “false” claims that deposits are FDIC-insured
Voyager allegedly “made numerous assertions online” that its funds were FDIC-insured, according to the Fed and FDIC. Voyager Digital, a cryptocurrency lender, has been ordered to delete “false and deceptive” claims that the bank accounts of its customers are FDIC-insured. Seth Rosebrockfrom and Jason Gonzalez, assistant general counsel at the Federal Reserve and the Federal […]