On Monday, Binance CEO Changpeng Zhao, also known as CZ, announced that the company had decided to convert $1 billion worth of BUSD from the Industry Recovery Initiative fund into three different cryptocurrencies. Zhao noted that significant onchain movements would be noticeable following the announcement. CZ’s Decision to Convert $1 Billion BUSD Comes Amidst Troubles
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A residential neighborhood in Austin, Texas, on Sunday, May 22, 2022. Jordan Vonderhaar | Bloomberg | Getty Images The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a recent high of 7.05% last Wednesday. Mortgage
Crypto exchange Gemini had no funds at Signature Bank, and its Gemini US Dollar (GUSD) stablecoin was not backed by any deposits at the failed bank, according to a March 13 official tweet from the company. 1/ It’s very sad to hear the news about Signature Bank. They have been incredible partners to Gemini and
Three banks, Silvergate, Silicon Valley Bank and Signature collapsed within a span of a few days. That increased demand for United States government bonds, which sent the yield on the 2-year Treasury tumbling to 4.06%, a fall of 100 basis points since March 8. This was the largest 3-day decline since Oct. 22, 1987, following
Goldman Sachs Asset Management launched the company’s first muni exchange-traded fund last week: the Goldman Sachs Community Municipal Bond ETF. “This is something that we don’t see as a short-term trend, but rather [something] that’s going to continue to grow over time,” Alexa Gordon, municipal bond portfolio manager at Goldman Sachs said of muni ETFs. Goldman
Shares in First Republic and several other US regional banks plunged on Monday as investors worried that regulators had not done enough to stem deposit outflows following the collapse of Silicon Valley Bank. First Republic was down by two-thirds in early afternoon trading in New York, having fallen as much as 75 per cent in
As Silicon Valley Bank was gripped in a crisis last Thursday, General Catalyst boss Hemant Taneja gathered a group of fellow venture capitalists in a last-ditch attempt to avert disaster. Over the previous few days, some VC funds had leaned on portfolio companies to retreat from the tech scene’s favourite bank, with Peter Thiel’s Founders
In this article FRC BAC JPM SCHW ILMN MRNA NEM Follow your favorite stocksCREATE FREE ACCOUNT People are seen inside the First Republic Bank branch in Midtown Manhattan in New York City, New York, U.S., March 13, 2023. REUTERS/Mike Segar Mike Segar | Reuters Check out the companies making the biggest moves midday: Regional banks
Municipal bond yields continued to fall Monday as traders assessed the effects of Silicon Valley Bank’s failure after federal regulators intervened to protect the banking system from additional failures of weak financial organizations. In addition, analysts said, this could impact the expected Federal Reserve rate hike, although inflation data this week will be the final
In the late 1800s, the Berkshires in Massachusetts was a prime spot for the Gilded Age wealthy to show off their money by building giant mansions, or “summer cottages” as society’s upper crust called them. Most have been lost to fire or demolished as impractical for a family to manage and finance. One of the
Litecoin was back in the green on March 13, as cryptocurrency markets rebounded to start the week. The token rose by as much as 15% in today’s session, with the global crypto market cap trading nearly 10% higher. Ethereum classic also moved significantly higher. Litecoin (LTC) Litecoin (LTC) rose by as much as 15% to
Bitcoin (BTC) hit its highest since the start of the month on March 13 as U.S. bank stocks saw the largest mass halt in history. BTC price sees “phenomenal” rebound Data from Cointelegraph Markets Pro and TradingView tracked a thoroughly bullish hourly candle for BTC/USD, which reached $23,725 on Bitstamp. The move was eagerly anticipated by
A controversial railway project in northeast Utah’s Uinta Basin has set its sights on up to $2 billion in private activity bond financing as it fends off heightened environmental concerns in the wake of last month’s train derailment in East Palestine, Ohio. The 86-mile rail line would extend from two terminus points in the basin
On Jan. 25, the Committee on Elections introduced a bill to the Kansas House of Representatives aimed at capping political donations via crypto at $100. Regardless of the success of this legislative initiative, the state of Kanzas won’t be the first jurisdiction to target anonymous donations. From authoritarian nations like Russia or China to electoral
WASHINGTON — President Joe Biden said that he will ask Congress and bank regulators to strengthen rules and oversight for banks to avoid further runs on banks and panic in the financial industry, like what was seen over the weekend. Biden, speaking from the White House, said that deposits at American banks “will be there
Banks are international in life and national in death. But finance isn’t the only place where success is global and failure is a decidedly local problem. The tech sector has got the same idea. The UK start-up fraternity has just had its second emergency government rescue in three years. As the world shut down in
Within three days, the Federal Deposit Insurance Corporation and state regulators in California and New York took control of Silicon Valley Bank and Signature Bank and guaranteed all their deposits, beyond the usual $250,000 federal insurance limit. The Federal Reserve also announced a new lending facility, backstopped by the US Treasury department, that other banks
Ethereum’s native token, Ether (ETH), rallied on March 13 after the U.S. regulators shored up wavering confidence in the banking sector led by the shutdown of $209 billion Silicon Valley Bank (SVB) and $110 billion Signature Bank. U.S. emergency measures help Ether recovery Ether’s price rose over 3% to around $1,635, its highest level in
The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and
Today I’m going to show you how I would trade the market under the current conditions. We are going to take a look at a diagonal spread on SPX, and I’ll give you my thoughts and insights on how I would approach this type of trade. #stocktrading #options #optiontrading #option #diagonalspread #spx Posted at: https://tradersfly.com/blog/creating-a-double-diagonal-strategy-on-spx-quick-options-trade-strategy/
Bitcoin moved back above $22,000, as the U.S. Treasury moved to avert a regional banking crisis, following the collapse of Silicon Valley Bank. The government confirmed that it will backstop depositors’ funds, giving full access to their capital. Ethereum also moved higher on the news. Bitcoin Bitcoin (BTC) rose back above $22,000 on Monday, as