The two biggest banking institutions serving cryptocurrency businesses in the U.S. have shut down in the last four days.
Crypto just lost 3 of its most important banking partners in a week. Here’s what experts say the impact will be on the industry.
Insider asked crypto execs and various experts where the industry will go after a slew of critical partners have been wiped out.
Crypto-Friendly Customers Bancorp Falls During Sector Selloff
Customers Bancorp Inc., a regional lender that rode the crypto wave last year, fell 24% on Monday amid a wider selloff of financial stocks stemming from the collapse of Silicon Valley Bank.
First Republic Bank falls nearly 70%, trading halted after collapse of SVB, Signature
The San Francisco-based First Republic Bank is a regional lender with more than $216 billion in assets under management.
Japan Post Bank’s new stock offering valued at over $9bn
Japan Post Bank's secondary stock offering has been priced at 1,131 yen a share, parent Japan Post Holdings said Monday, bringing the total value of the sale to 1.23 trillion yen ($9.24 billion).
Hackers steal around $200 million from crypto lender Euler Finance
On Monday, the blockchain monitoring firm PeckShield sent an ominous tweet directed at the crypto lending platform Euler Fiance, simply saying: “Hi […] you may want to take a look.” What the firm was suggesting Euler take a look at was a series of transactions that indicated there was an ongoing hack against Euler.
Crypto exchange OKcoin pauses USD deposits following closure of Signature Bank
Crypto exchange OKcoin temporarily paused U.S. dollar deposits in the wake of the closure of crypto-friendly Signature Bank by state regulators Sunday.
Major crypto coins stabilise after U.S. intervenes on SVB collapse
Major cryptocurrencies stabilised on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank (SVB) and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar.
Crypto Scours the Globe for Banks to Replace Collapsed US Lenders
Crypto hedge fund executive Marco Lim spent Monday racing to open bank accounts in Hong Kong after the sudden collapse of three US lenders.
SVB Bust Won’t Go Big in Japan—Probably
SVB was tripped up by investments in Treasurys and government-backed debt. Japanese financial institutions have long been large buyers.
Founder of troubled crypto asset unicorn Babel launches new DeFi project, stablecoin
Flex Yang, the former CEO and founder of Babel Finance, is leading efforts to restructure the now embattled crypto asset unicorn while introducing a new decentralized project with hopes to avoid some ...
Bitcoin rises and crypto market tops $1 trillion again after US regulators bail out SVB customers
Bitcoin's price jumped in a broad-based rally for cryptocurrencies Monday, after US regulators stepped in to bail out customers with money in Silicon Valley Bank.
Helium’s IoT-Crypto Network Is Barely Hanging On in Lebanon
People in the country hoped to earn a steady payout from Wi-Fi hot spots. But many are left holding useless hardware.
After SVB failure, regulators close crypto-friendly bank Signature Bank
Signature Bank is the second casualty of the ongoing banking crisis in the U.S. The New York-based financial institution stopped operating abruptly on Sunday — customers will be made whole. Regulators ...
US futures fall as US bank failures make markets jittery
Bank stocks sagged and U.S. stock futures were mixed ahead of the market’s open in New York, shaken by worries the biggest U.S. bank failure in nearly 15 years might have ripple effects ...
Japan loosens COVID-19 rules, but many keep masking
Many Japanese residents took a cautious approach on Monday to the government easing COVID-19 restrictions, choosing the keep wearing masks on the morning commute and in many public spaces.