Making news in fintech this week was the former Silicon Valley Bank CEO, Microsoft, Goldman Sachs, OpenAI, Nubank, Truist,. Jack Henry, FedNow, Ripple, Dave and more.
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Regulators' seizure of the ailing First Republic comes as no surprise after a week of speculation. JP Morgan wins the bid to acquire.
The VC and startup community are tentatively settling into an optimistic action plan after SVBs failure. SVB Capital is still on the table.
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The experience of this past weekend highlights a type of business continuity risk that managers of FBO accounts should stop to consider.
Will this be enough to break the spiralling loss of confidence in the banking system?
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Senate Committee remained unconvinced by Greg Becker's apology citing multiple warnings and increased paychecks as risks mounted.
The Silicon Valley Bank (SVB) collapse will improve financial system health if it moves systems towards decentralized finance (DeFi). That pulls them away from the single points of failure that caused the most damage over the past few weeks, Paystand CEO Jeremy Almond said.
First Citizens Bank has acquired part of the failed SVB, announced the FDIC yesterday.
Following the SVB crisis, already precarious Credit Suisse has struggled to hold the confidence of investors. UBS has agreed to acquire.
We will be live-updating the Silicon Valley Bank crisis story as new developments emerge through the weekend.