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SVB

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US politicians Warren and Ocasio-Cortez probe Circle, BlockFi on SVB relationship 

Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez are questioning some of the largest depositors of the now-fallen Silicon Valley Bank (SVB), including USDT issuer Circle and bankrupt BlockFi. The lawmakers are seeking information about the companies’ relationship with SVB.  The lawmakers sent letters to Circle, BlockFi, and 12 other non-crypto companies, questioning why they chose […]
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FDIC reportedly places SVB funds, including customer deposits, under receivership 

A fortnight after the newly appointed Silicon Valley Bank (SVB) chief executive officer (CEO) cheered customers to return funds to the bank, the Federal Deposit Insurance Corporation (FDIC) has reportedly sent emails informing customers that their funds were in receivership.  Mayopolous woos depositors  Developments emanating from the embattled SVB, after Mayopolous’ advice, have shocked depositors as […]
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