As the dust settles after the SVB fall, leaders are looking at ways forward. Many think fintech might have the upper hand.
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Senate Committee remained unconvinced by Greg Becker's apology citing multiple warnings and increased paychecks as risks mounted.
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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.
It was one of the most tumultuous weekends in the history of fintech, as federal regulators and government agencies took swift action to stop the bleeding after Silicon Valley Bank suddenly collapsed.
Days after the chaos, newly appointed CEO of the SVB bridge bank urges customers to hold deposits. Meanwhile regulators investigate the fall.
The week has ended in a bank run caused by the SVB's "classic balance sheet restructuring" actions. Some are asking, "who is next?"
The whole of finance has felt SVB's ripples. Crypto is no exception. Some are evaluating DeFi as a influencer of changes to the system.
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.
We will be live-updating the Silicon Valley Bank crisis story as new developments emerge through the weekend.
The fintech news this week was dominated by the demise of Silicon Valley Bank, a fast moving story that took less than 48 hours to unravel.