Search Results for: Silicon Valley Bank

Billionaire ‘Bond King’ Jeffrey Gundlach Expects Fed to Raise Rates Next Week — ‘That Would Be the Last Increase’

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Billionaire Jeffrey Gundlach, aka the “Bond King,” expects the Federal Reserve to raise interest rates at its March meeting next week, which “would be the last increase,” he said. In addition, Gundlach cautioned: “The inflationary policy is back in play with…

Goldman Sachs Now Expects No Rate Hike in March Due to Stress in US Banking System

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Goldman Sachs has revised its U.S. interest rate forecast due to “stress in the banking system.” The global investment bank no longer expects the Federal Reserve to raise interest rates at its Federal Open Market Committee (FOMC) meeting in March after…

Binance Converts $1 Billion BUSD Into Bitcoin, BNB, and Ethereum

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On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be…

USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

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The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to the $0.99 range after the U.S. Federal Reserve revealed it would…

Report: Silicon Valley Bank Under FDIC Auction as Calls for Bailout Grow

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The U.S. Federal Deposit Insurance Corporation (FDIC) began an auction process for Silicon Valley Bank (SVB) late Saturday night, according to reports. Final bids are due by Sunday afternoon. Unnamed sources indicate that the FDIC is seeking to close the deal…

Extreme Market Turbulence: Critics Call Warren’s Silvergate Take ‘Terribly Misinformed,’ SVB Collapses, Vitalik’s Token Sell-Off Moves Markets, and More — Week in Review

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It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators…

Billionaire Warns of Imminent Bank Runs if Government Fails to Guarantee All SVB Deposits

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Billionaire Bill Ackman has warned of “vast and profound” consequences of the U.S. government letting Silicon Valley Bank (SVB) fail without protecting all depositors. “No company will take even a tiny chance of losing a dollar of deposits as there is…

‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

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Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts…

Bitcoin, Ethereum Technical Analysis: BTC Above $20,000, ETH Beyond $1,400 on Saturday

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Bitcoin rose back above $20,000 on Saturday, despite markets still being spooked by the collapse of yet another banking institution. Silicon Valley Bank was shut down by U.S. regulators on Friday, causing many institutions to lose access to capital. This includes…

Silicon Valley Bank Faces Financial Woes as Stock Is Halted, Sells $21 Billion Bond Portfolio at a $1.8 Billion Loss

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On March 10, 2023, market observers are discussing the troubles Silicon Valley Bank (SVB) faces, as the firm’s stock slid more than 60% in the last 24 hours. SVB was forced to sell a $21 billion bond portfolio at a $1.8…