Last week, Silicon Valley Bank (SVB) said it would be closing its doors, which sent shockwaves across the banking industry and forced the top US authorities, including the Fed and the FDIC, to take action. Even while the Fed successfully prevented the contagion from extending further, recent information on insider stock sales has brought up … Read more
According to published reports, BlockFi also owns $227 million in the bankrupt Silicon Valley Bank, which was not covered by insurance. As the drama surrounding the closing of Silicon Valley Bank unfolds (1) more, other victims are coming to light. Circle, the company responsible for the widely used USDC stablecoin, was the first to suffer … Read more
Robert Kiyosaki has issued a warning that a third U.S. bank will fail, while Peter Schiff has stated that a “greater collapse” is on the horizon. As a result of the failure of Silicon Valley Bank (SBV) & Silvergate Bank within forty-eight hours, the financial system in the United States has been jolted, and economic … Read more