Silicon Valley banks

According to reports, the Wall Street Journal stated that the Federal Reserve is rethinking the loophole in covering up losses on securities held by banks in Silicon Valley; There

According to reports, the Federal Deposit Insurance Corporation (FDIC) of the United States has launched an investigation into the behavior of executives in the bankruptcy of Silic

According to reports, Cathie Wood, founder of the Ark Fund, said that the company has no exposure to Silicon Valley banks. ARK has $2 billion in tax losses that can offset future g

According to reports, hedge fund investment company Citadel once proposed to purchase $3.3 billion of cryptocurrency technology company Circle deposits in Silicon Valley banks at a certain discount, but negotiations between the two sides ultimately collapsed. (Wall Street Journal) Citadel has proposed to acquire Circle’s $3.3 billion deposit with a Silicon Valley bank at a certain discount Analysis based on this information:Reports indicate that hedge fund investment company Citadel approached Circle, a cryptocurrency technology company, with an offer to purchase $3.3 billion worth of their deposits in Silicon Valley banks at a discount. However, the negotiations ultimately failed, and the deal was not finalized. This news brings attention to the rising interest of traditional finance institutions in cryptocurrencies, as well as highlighting the challenges that can arise in such negotiations. Citadel is one of the largest hedge funds globally, and their interest in purchasing Circle’s crypto deposits underscores a growing interest in cryptocurrencies by traditional finance institutions. Such investments allow…

According to reports, Andreessen Horowitz told investors that he would continue to cooperate with Silicon Valley banks in the future, while also formulating a long-term diversification plan. （Business Insider） A16z will continue to cooperate with Silicon Valley Bank in the future Analysis based on this information:Andreessen Horowitz, the popular venture capital firm based in Silicon Valley, recently announced its commitment to continue its partnership with banks in the region while also expanding its portfolio by creating a diversification plan for the future. The move comes amid a growing trend of VC firms branching out beyond traditional tech investments and exploring new opportunities in fields like healthcare, biotech, and fintech. According to reports, Andreessen Horowitz’s decision to maintain its collaboration with Silicon Valley banks reaffirms its commitment to supporting tech startups and entrepreneurs. Banks play a critical role in financing startups and providing other essential services, such as assisting with fundraising, mergers, and acquisitions. By working closely with banks, VC firms…

According to reports, according to market news, the Federal Deposit Insurance Corporation of the United States has partnered with Piper Sandler to restart the plan to sell Silicon Valley banks. The Federal Deposit Insurance Corporation of the United States partnered with Piper Sandler to restart the plan to sell Silicon Valley banks Analysis based on this information:The Federal Deposit Insurance Corporation (FDIC) is partnering with Piper Sandler to sell off troubled banks within the Silicon Valley area. This news follows reports that the FDIC has become more aggressive in its efforts to dispose of banks that are on the verge of failure or struggling. The aim is to dispose of more banks that are under-capitalised or insolvent, and Silicon Valley banks are prime targets in this regard. This announcement is likely to be positively received by potential buyers, who may see it as an opportunity to gain access to businesses and technology startups in the highly lucrative Silicon Valley market….

According to reports, Cathie Wood, founder of ARK Invest, stated on Twitter that cryptocurrency had not led to the bankruptcy of Silicon Valley banks and Signature, and that the “culprit” was the Federal Reserve. Due to the shortage of venture capital funds and the high yield of money market funds, deposits have left the US banking system. Cathie Wood believes that regulators use cryptocurrency as a scapegoat for their regulatory failures in traditional banking. Cathie Wood: The Federal Reserve is the “culprit” in the bankruptcy of Silicon Valley banks and Signature Analysis based on this information:Cathie Wood, the founder of ARK Invest, is renowned for her work as an investor in disruptive technologies and cutting-edge breakthroughs in the finance sector. In a recent post on Twitter, she stated that while cryptocurrency has been blamed for the bankruptcy of Silicon Valley banks and Signature, the Federal Reserve is the real culprit. Apparently, the shortage of venture capital funds and the high…

According to the report, Jeremy Allaire, the chief executive of Circle, said in the latest interview with CNBC that if the U.S. government did not intervene in Silicon Valley banks, Circle would take “preventive measures”, including using its own corporate balance sheet and external funds, so it was very confident in capital. Fortunately, Circle does not need to do so now. Jeremy Allaire also said that he would not be “angry” about the behavior of Silicon Valley banks, because the main reason for these problems is the rising US dollar interest rate. Circle CEO: I will not feel “angry” with Silicon Valley Bank. The main reason is the rising US dollar interest rate Analysis based on this information:In a recent interview with CNBC, Jeremy Allaire, the CEO of Circle, shared insights on the potential risks posed by the rising US dollar interest rate to Silicon Valley banks. He also discussed the measures Circle could take to mitigate these risks. Allaire…

It is reported that a few days ago, it was reported that Oak Capital and other hedge funds planned to purchase the assets of Silicon Valley banks at a discount. Oak Capital responded to the reporter on the evening of March 13, Beijing time, “no comment”. Oak Capital:; Proposed to purchase the assets of Silicon Valley Bank at a discount" No comment on the news Analysis based on this information:The news that Oak Capital and other hedge funds are planning to buy the assets of Silicon Valley banks at a discount has created a stir in the financial market. The move is significant as it indicates that hedge funds are looking to benefit from the current economic crisis due to the COVID-19 pandemic. The purchase of assets at a discounted price could potentially fetch lucrative returns for these funds in the long run. Oak Capital, being one of the key players in the hedge fund industry, has remained quiet about…

On March 13, Indian SaaS company Freshworks said that compared with the company’s entire balance sheet, the current exposure to banks in Silicon Valley is the smallest; Work with corporate customers and suppliers who use Silicon Valley bank accounts to transfer these accounts to other banks; At present, most of the company’s cash and securities are not deposited in Silicon Valley banks. Freshworks said its exposure to Silicon Valley banks was very small Analysis based on this information:Freshworks, an Indian SaaS company, recently announced that its current exposure to banks in Silicon Valley is minimal compared to the company’s entire balance sheet. This statement implies that Freshworks has taken the necessary steps to diversify its banking relationships to mitigate any potential risks associated with relying solely on one geographical area. Moreover, the company declared that it would work with its corporate customers and suppliers, who use Silicon Valley bank accounts, to move these accounts to other banks. This move shows…

According to reports, according to people familiar with the matter, the Federal Deposit Insurance Corporation (FDIC) of the United States launched the auction process for Silicon Valley banks on Saturday night local time, and the final offer will be closed on Sunday afternoon. According to a person who did not want to be named, the goal of FDIC is to reach an agreement quickly, but the final winner may not be known until late Sunday. The person familiar with the matter said that the relevant parties have not made a final decision and may not reach any agreement. (Bloomberg) Bloomberg: FDIC’s auction of Silicon Valley banks is in progress Analysis based on this information:The Federal Deposit Insurance Corporation (FDIC) of the United States has initiated the auction process for Silicon Valley banks, according to reports from sources who wish to remain anonymous. The auction started on Saturday night and final offers are expected to come in by Sunday afternoon. While…

According to reports, Israeli Prime Minister Benjamin Netanyahu said that the government would assess the impact of the collapse of Silicon Valley banks on Israeli companies and decide whether to provide them with assistance, mainly in terms of cash flow. (Washington Post) Israeli Prime Minister: The government will assess the impact of the collapse of Silicon Valley banks on Israeli companies and decide whether to provide assistance Analysis based on this information:Israeli Prime Minister Benjamin Netanyahu reportedly stated that the country’s government would evaluate how the collapse of Silicon Valley banks would impact Israeli companies. Based on the assessment, the government would determine whether to support these businesses with financial assistance, particularly in terms of cash flow. The declaration implies that Netanyahu recognizes the potential adverse impact of the collapse of Silicon Valley banks on the Israeli economy. At present, the Israeli technology industry is one of the leading sectors globally, with profound contributions to Israel’s Gross Domestic Product (GDP)….

On March 13, US President Joe Biden said that he was pleased that the Ministry of Finance had quickly solved the problem of banks in Silicon Valley, and would continue to pursue the responsibilities of the relevant parties that caused the chaos, and planned to continue to strengthen the supervision of large banks. Biden: Relevant parties responsible for the “chaos” of banks in Silicon Valley will be investigated, and the supervision of large banks will be strengthened Analysis based on this information:In a recent statement by US President Joe Biden, he expressed satisfaction regarding the swift actions taken by the Ministry of Finance to resolve issues with banks in Silicon Valley. However, he emphasized that this was not the end of the matter and that the relevant parties responsible for causing the chaos would be held accountable. Furthermore, he outlined his plans to strengthen the supervision of large banks in the country. The fact that Biden expressed his approval of…

It is reported that Meitu announced at the Hong Kong Stock Exchange that the Group has not held any bank accounts or funds in Silicon Valley banks since 2020, nor has the Group had any current or ongoing banking relationship with Silicon Valley banks.   Meitu: No current or ongoing banking relationship with Bank of Silicon Valley Analysis based on this information:Meitu, a leading Chinese technology company that specializes in image and video editing software, has announced through the Hong Kong Stock Exchange that it has cut its ties with Silicon Valley banks. According to the company’s statement, Meitu has not held any bank accounts or funds in Silicon Valley banks since 2020 and has no current or ongoing banking relationship with these banks. The move comes at a time when the United States and China are engaged in a trade war that has seen the U.S government take measures to limit China’s access to American technology and financial systems….

On March 12, according to the source, the traders of Jefferies, a Wall Street company, are contacting the founders of start-up companies whose funds are trapped in Silicon Valley banks to propose to purchase their deposit claims at a discount. Jefferies is contacting the start-up company in Silicon Valley, which is suffering from financial difficulties, to purchase its deposit creditor’s rights at a discount Analysis based on this information:In recent news, Jefferies, a well-known Wall Street company, is said to have reached out to founders of start-up firms whose funds are stuck in Silicon Valley banks. The financial giant is proposing to buy deposit claims from them at a discounted rate. This act, which may be seen as a helping hand to entrepreneurs, may, in reality, expose start-up owners to more financial risk. The move to purchase deposit claims may ultimately result in start-up owners taking a far lower value for funds already tied down. This would come about due…

According to reports, US Treasury Secretary Yellen said that any bank failure would constitute “obvious concern”. The US banking system is safe, capital is sufficient and resilient. Regulators are formulating policies to address the banking incident in Silicon Valley. Try to solve the current problem “in time”, but we can’t provide more details at present. Make sure that the problems of one bank will not spread to other banks. However, Yellen said that of course, he would not repeat the past rescue of banks. The problem of the technology industry is not the “core” of the collapse of Silicon Valley banks. The FDIC is considering a series of options for Silicon Valley banks, including acquisitions. The regulators are aware of this and are trying to meet the needs of bank depositors in Silicon Valley. US Treasury Secretary Yellen: Regulators are formulating policies to solve the banking incident in Silicon Valley Analysis based on this information:US Treasury Secretary, Janet Yellen, recently…

According to reports, Watcher.guru disclosed information on social media, the Federal Deposit Insurance Corporation (FDIC) of the United States said that it would pay a certain proportion of deposit funds to uninsured depositors of Silicon Valley banks as “advance dividend”. FDIC will pay a certain proportion of funds to uninsured depositors of Silicon Valley Bank Analysis based on this information:According to a report by Watcher.guru on social media, the Federal Deposit Insurance Corporation (FDIC) of the United States has disclosed its plan to pay a certain proportion of deposit funds to uninsured depositors of Silicon Valley banks as “advance dividend”. This plan is a proactive measure taken by the FDIC to mitigate the risks associated with the financial instability of Silicon Valley banks. The FDIC is a U.S. government agency that provides insurance to deposit accounts in the United States in the event of a bank failure. It was established in 1933, during the Great Depression, to restore public confidence…

It is reported that Bob Elliot, a senior executive of Qianqiao Water Fund and CEO of Unlimited, an investment company, said in a social media message that the decisions of the Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) on the future of Silicon Valley banks may affect regional banks in the United States and cause them to face trillions of dollars of run risk. Bob Elliot disclosed data that nearly one third of the deposits in the United States are deposited in small banks, of which 50% are uninsured, and the proportion of uninsured deposits in credit cooperatives is even higher. According to the data of the Federal Reserve, as of February 2023, small banks in the United States have $6.8 trillion in assets and $680 billion in equity. The collapse of Silicon Valley banks will bring “the risk of running thousands of small banks”. （Cointelegraph） Qianqiao Water Fund executives: regional banks in the United States may face…

On March 12, Y Combinator, a famous startup incubator in Silicon Valley, issued a petition signed by thousands of founders and chief executives to Janet Yellen…

According to reports, the CEO of Tether, the stable currency issuer, said that it had no risk exposure in Silicon Valley banks.

Tether CEO: No risk exp…