Traders dumped risky assets following the crisis and failure of Silicon Valley Bank (SVB). The S&P 500 Index plunged 4.55% while Bitcoin (BTC) is down about 9% this week. The collapse of SVB led to a crisis in the crypto space with USD Coin (USDC) losing its peg to the U.S. dollar on reports that
It is fitting that Silicon Valley should be home to the first significant digital run on a bank. Thanks to tech innovation, withdrawing money means going online these days, not queueing round the block. Hence the speed with which Silicon Valley Bank was taken over by regulators last week following $42bn of withdrawals. Opportunists have
The writer is a partner at Sequoia Capital Not much suggests a connection between Siena, the most majestic of Tuscany’s hill towns, and the flatlands of Santa Clara, the city in northern California which houses the Great America theme park and Levi’s stadium, home of the San Francisco 49ers. But there is a link and
On Saturday, several centralized crypto trading platforms and payment processors stopped USDC auto conversions. However, USDC experienced a significant trading volume on decentralized exchange (dex) platforms such as Uniswap, Curve, and Pancakeswap. Uniswap alone recorded $10.13 billion in trades over the past day, with more than 55% of those swaps involving USDC against wrapped ether,
The market continues to grind up, and you might be getting excited to take another chance at shorting. If you are looking to set up a shorting opportunity trade with options, this is a simple PUT VERTICAL SPREAD that you BUY in order to profit from a downside move. The options trade risk is defined
Janet Yellen said on Sunday that the US government was working closely with banking regulators to help depositors at Silicon Valley Bank, but dismissed the idea of a bailout. Speaking to CBS on Sunday, the Treasury secretary sought to assure US customers of the failed tech lender that policies were being discussed to stem the
In this article ZS HIBB SNOW GRMN CRM Follow your favorite stocksCREATE FREE ACCOUNT Clifton Pemble, President and CEO, Garmin at the NYSE December 7, 2021. Source: NYSE Investors have no shortage of worries, be it the economy slipping into a recession due to higher interest rates or the havoc that whiplashed financial stocks last
The UK government is trying to push through a takeover of the British arm of Silicon Valley Bank to prevent damage spreading across the technology sector, with a deep-pocketed Middle Eastern buyer having already expressed interest. The collapse of SVB has sparked crisis talks in Downing Street over the weekend, as British tech company executives
The writer is president of Queens’ College, Cambridge, and an adviser to Allianz and Gramercy The fate of what was a little-known bank outside the tech world until last week is now of major policy concern this weekend, and not just in the US. In a narrow sense, it demonstrates that even seemingly small banks
Grady Hendrix Albert Mitchell After Louise’s parents unexpectedly die in a car accident, she returns home to Charleston, where her plans to get her childhood home ready for sale are soon complicated. There’s her parents’ endless stuff, including the hundreds of dolls her mother owned. There’s her estranged brother, Matt, trying to cheat her out
It’s been a turbulent week in finance with the so-called crypto-friendly Silvergate Bank announcing its liquidation, U.S. Senator Elizabeth Warren blaming the event on “crypto risk,” and individuals on social media pointing out that Warren is “terribly misinformed.” Additionally, U.S. Regulators closed Silicon Valley Bank after reports of a bank run and other troubles. In
Visit our website: https://www.zacks.com Visit our Stocktwits account: https://stocktwits.com/ZacksResearch Check out our weekly promotion: https://www.zacks.com/promo If you’re interested in our services, please check out Zacks Ultimate: https://www.zacks.com/ultimate/?adid=YOUTUBE&cid=sm-YOUTUBE
#shorts #dividends #investing #trading212 #trading #stocks #stockmarket #trading
The UK chancellor will lay out his ambition to get hundreds of thousands more people into work in next week’s Budget, introducing reforms intended to move parents, the sick, disabled, and older workers back into jobs. Jeremy Hunt said his priority was to create the conditions for growth and to bear down on inflation, billing
Just a few weeks after tapping its best exchange rate versus the greenback in 2023, the South African rand fell to a new 2023 low of 18.636 local currency units for every dollar on March 7. South Africa’s power shortages as well as the country’s recent grey-listing by the Financial Action Task Force (FATF) are
Saudi Aramco reported record profits of $161bn in 2022 and increased its payout to shareholders as the largely state-owned oil company cashed in on a tumultuous year in energy markets. The Saudi Arabian producer on Sunday said it sold more oil than in 2021, improved refining margins and benefited from strong crude prices, which helped
The failure of Silicon Valley Bank has left many Chinese funds and tech start-ups in the lurch, as the collapsed institution served as a key funding bridge for groups operating between China and the US. SVB’s abrupt takeover by US regulators on Friday has also cast doubt over the fate of its joint venture in
The UK chancellor is preparing a dramatic intervention to provide a cash lifeline to scores of tech businesses next week as he seeks to contain the damage caused by the collapse of Silicon Valley Bank. Jeremy Hunt said there was “a serious risk” to tech and life sciences companies that used SVB’s UK bank, many
A draft law designed to regulate crypto mining in Russia introduces harsh penalties for miners failing to report digital assets to the state. In its latest revision, the bill also threatens to punish those who organize illegal trading of cryptocurrencies with imprisonment and hefty fines. Forced Labor Awaits Miners and Traders Who Operate Outside Law,
The Nigerian central bank recently said it had issued operational guidelines for open banking in Nigeria which are expected to enhance efficiency and access to financial services. According to the central bank, some of the guidelines’ objectives include ensuring “consistency and security across the open banking system.” Customer Permissioned Data Sharing The Central Bank of
Xi Jinping has kept the country’s central bank governor Yi Gang in his post and retained his finance and commerce ministers, as the Chinese president defied expectations of a large-scale overhaul of his cabinet at this year’s annual parliamentary meeting. The reappointments, which analysts said would reassure markets nervous about plans by Beijing to reform