SVB News

Luckey-backed Erebor raised $350 million at a $4.35 billion valuation as OCC and FDIC approvals signal momentum for crypto- and AI-focused banking.

Peter Thiel and other billionaires are planning Erebor, a new bank to fill the void left by Silicon Valley Bank’s collapse — with crypto firms and startups in focus.

Before its collapse, Silicon Valley Bank had deep ties to crypto companies and venture capital funds investing in the industry.

The fall of Silicon Valley Bank prompted Venture Capitalist Tim Draper to tell the firms he’d invested in to buy Bitcoin.

This week’s Crypto Biz explores SVB Capital bids, new funds from Blockchain Capital, the Hut 8-US Bitcoin merger and Citigroup’s private blockchain.

Anthony Scaramucci’s SkyBridge Capital is among the asset management firms leading the bids for Silicon Valley Bank’s venture capital arm, with a sale expected in the coming weeks.

Stablecoins from Circle and MakerDAO have been more unstable than those from Tether and Binance over the past couple of years, according to a new report from S&P Global.

Senator Cynthia Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse.

Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management.

In April there hasn’t been a single day where total sellers on the market haven’t exceeded total buyers.

Janet Yellen called for further regulation of nonbank institutions, claiming they pose a systemic risk to U.S. financial stability.

The stablecoin provider denied the allegations that began to surface in regard to its exposure to the now-collapsed Signature Bank.

Circle’s Asia-Pacific vice president said the company currently holds 80% of its reserves but would ultimately like to keep all cash with the Fed in light of the recent banking crisis.

The deal was announced on March 26 by the Federal Deposit Insurance Corporation.

Signature Bank is the best place for crypto banking, even if it goes bankrupt, Woorton co-founder Zahreddine Touag believes.