Top Stories - Spark Newswire

1 minute read

FDIC Reportedly Holds Auction For Silicon Valley Bank With Final Bids Due By Sunday

March 12, 12:43 PM

The Federal Deposit Insurance Corp. reportedly began an auction for Silicon Valley Bank late on Saturday night, with the final bids required by Sunday afternoon.

SIVB

2 minute read

Scaramucci Warns Of Regional Bank Runs If Fed Doesn’t Act On SVB: ‘Why Are We Paying All Of These Taxes?’

By Shanthi Rexaline

March 12, 12:15 PM

As experts continue to weigh in on the fallout of SVB Finance Group (NASDAQ: SIVB)-owned Silicon Valley Bank’s collapse, one more voic

SIVB

2 minute read

FDIC, Fed Discussing Creation Of Fund To Backstop Deposits If More Banks Fail Following SVB Collapse: Report

By Aveek Bhowmik

March 12, 11:49 AM

As news of Silicon Valley Bank’s collapse spread across the financial world, the Federal Deposit Insurance Corp, or FDIC, and the Federal Reserve reportedly began discussing the creation of a new fund that could allow re

SIVB

2 minute read

Home Depot Co-Founder Urges Americans To ‘Wake Up’ Following SVB Collapse, Says Recession May Be Here Already

By Bibhu Pattnaik

March 12, 10:41 AM

Bernie Marcus, co-founder of Home Depot (NYSE: HD), said Americans need to "wake up" to the reality that the U.S.

2 minute read

SVB’s Collapse Rooted In Treasury Bets During Pandemic: ‘Once It Started, There Was No Stopping It’

By Bibhu Pattnaik

March 12, 9:03 AM

Silicon Valley Bank, a unit of SVB Financial Group (NASDAQ: SIVB), was shut down on Friday by the California Department of Financial Protection and Innovation because of "inadequate liquidity and insolvency." The Federal Deposit Insurance Corporation was

SIVB

2 minute read

Silicon Valley Bank Employees Offered 45 Days Of Employment At 1.5 Times Pay Following Collapse

By Aveek Bhowmik

March 12, 8:31 AM

Employees of Silicon Valley Bank — a subsidiary of SVB Financial Group (NASDAQ:SIVB) — have reportedly been offered 45 days of employment at 1.5 times their salary following the collapse o

SIVB

2 minute read

FDIC To Begin Returning Some Uninsured SVB Deposits As Soon As Monday: Report

By Bibhu Pattnaik

March 12, 8:16 AM

The Federal Deposit Insurance Corporation (FDIC), overseeing the emergency breakup of SVB Financial Group (NASDAQ:

SIVB

2 minute read

‘Rich Dad, Poor Dad’ Author Says You Should Invest In These Two Assets Amid Silicon Valley Bank’s Collapse

By Bibhu Pattnaik

March 11, 5:15 PM

In the wake of the collapse of Silicon Valley Bank, a subsidiary of SVB Financial Group (NASDAQ: SIVB), and

2 minute read

Tech Investor Warns Of 2 Potential Systemic Risks From SVB Implosion; Fed Needs To ‘Bearhug The Situation’

By Shanthi Rexaline

March 11, 4:48 PM

Delving into the collapse of SVB Financial Group’s (NASDAQ: SIVB) Silicon Valley Bank, former PayPal executive, tech investor and entrepreneur David Sacks said he sees two adverse outcomes of the crisis.

SIVB

2 minute read

Crypto Analyst Issues Dreadful Warning About Bitcoin’s Latest Performance

By Bibhu Pattnaik

March 11, 3:59 PM

Bitcoin (CRYPTO: BTC) may be in for a rude awakening.

BTC