LONDON :Major cryptocurrencies stabilised on Monday after U.S. authorities announced plans to limit the fallout from the collapse of Silicon Valley Bank and the issuer of the USD Coin stablecoin said it remained redeemable with the dollar.
Top cryptocurrency bitcoin, meanwhile, slipped 0.3 per cent to $22,125 on Monday morning, but was still up around 8 per cent from Sunday's lows. With the fall of SVB and California-based Silvergate Bank, its closure means that three of the main U.S. banks used by crypto businesses have failed this year.
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SVB collapse could add to China stock investors' anxietyHONG KONG : China stock investors, already disillusioned by Beijing's lower-than-expected economic growth target for the year, will be further disheartened by the shock collapse of U.S. lender SVB Financial Group, market participants said.China's CSI300 Index dropped 4 per cent last week, while Hong Kong'
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Six Hong Kong-listed firms say their deposits at SVB are immaterialHONG KONG : Six Hong Kong-listed companies, mostly Chinese pharmaceutical firms, disclosed cash deposits at Silicon Valley Bank on Sunday, adding that their exposure to the failed U.S. lender and its impact on operations were immaterial, in an effort to calm investors.Startup-focussed SVB Financial Group,
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India tech minister says to meet startups on SVB falloutMUMBAI : India's state minister for technology said on Sunday he will meet start-ups this week to asses the impact on them of Silicon Valley Bank's collapse, as concerns rise about the fallout for the Indian start-up sector.California banking regulators shut down Silicon Valley Bankon Friday after the a r
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Most Aussie, NZ tech firms confirm minimal exposure to SVB falloutAustralian and New Zealand tech firms said on Monday they did not have material exposure to Silicon Valley Bank following the failure of the U.S. startup-focused lender SVB Financial Group last week, amid fears of a contagion in Asia. Friday's failure of SVB Financial Group, which focuses on technology
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Dollar slides as US intervenes on SVB collapseSINGAPORE : The U.S. dollar slid on Monday as authorities stepped in to cap the fallout from the sudden collapse of Silicon Valley Bank, with investors hoping the Federal Reserve will take a less aggressive monetary path. The U.S. government announced several measures early on Monday Asian hours, and s
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Australian tech firms say they don't have material exposure to SVBSYDNEY :Several Australian and New Zealand tech firms said on Monday they did not have material exposure to Silicon Valley Bank following the failure of the U.S. startup-focused lender SVB Financial Group last week.Australian Treasurer Jim Chalmers said the government was aware some Australian firms have been
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