Robinhood users have taken to Twitter to express their displeasure as they are unable to revel in the SVB and Signature Bank failure. Users of the Menlo-Park-headquartered financial services company Robinhood Markets Inc (NASDAQ: HOOD) app have been unable to cash in on the recent crumble of Signature Bank and Silicon Valley Bank (SVB) despite … Read more
In other SVB-related news, the Financial Group, which was the holding company of SVB, is exploring ways to sell off its other units. Private equity company Apollo Global Management is reportedly interested in the book of loans held by the now-collapsed Silicon Valley Bank (SVB). The bank has made several headlines over the past week … Read more
Etsy and its peers like Shopify have had to kickstart their restrategizing agenda. Retail merchants selling on several online marketplaces including American e-commerce marketplace Etsy Inc (NASDAQ: ETSY) are reportedly seeing delays in their payments owing to their dependence on distraught Silicon Valley Bank (SVB). As a marketplace that operates round the clock, proceeds of … Read more
Garlinghouse noted that financial systems are broken given their high susceptibility to rumors as evidenced by the current banking crisis. In a March 12 Twitter thread to his 700,000 followers, Ripple CEO Brad Garlinghouse addressed his company’s exposure to the collapsed Silicon Valley Bank (SVB), emphasizing the company’s financial stability. The exec noted that while … Read more
The decision to take over Signature Bank was made to reduce depositor outflows and prevent further bank runs. The New York Department of Financial Services (NYDFS) has taken over the crypto-friendly bank, Signature Bank, to safeguard depositors’ funds and preserve confidence in the US economy. After the collapse of Silicon Valley Bank (SVB) due to … Read more