Category: Technology
svb: SVB resolution reassuring, will bring relief to startups: IT Minister Ashwini Vaishnaw
[ad_1] Amid US administration’s move to protect depositors of Silicon Valley Bank, IT Minister Ashwini Vaishnaw on Monday said that the SVB resolution is “reassuring” and will bring relief to startups. The Biden administration has announced that depositors of the failed Silicon Valley Bank will have access to their money from Monday. “SVB resolution is ...
In big relief, US regulators backstop all Silicon Valley Bank deposits, while HSBC buys UK arm of failed bank
[ad_1] Capping days of chaos and uncertainty among startup founders and venture capital investors, US regulators stepped in to backstop all deposits in the shuttered Silicon Valley Bank to stem the ongoing crisis. Further, the UK arm of the bank was bought by HSBC for £1. This and more in today’s edition of ETtech Top ...
fightright legal cases fund: Legaltech firm Fightright launches Rs 100-crore fund for HNIs
[ad_1] Fightright Technologies, a legaltech firm that leverages AI and ML-backed analytics to fund commercial litigations, has launched a fund with claims under management of Rs 100 crore. The fund, a special purpose vehicle, will invest in 15-20 commercial cases with an average ticket size of Rs 5-7 crore for a tenure of two to ...
crypto firm circle usdc reserves: Crypto firm Circle says $3.3 billion USDC reserves to be fully available on Monday
[ad_1] Cryptocurrency firm Circle said all its depositors with the collapsed Silicon Valley Bank and Signature Bank will be made whole and the $3.3-billion USDC reserve deposit held at Silicon Valley Bank will be fully available when banks open on Monday. Circle’s announcement comes after the US administration on Sunday stepped in with a series ...
Indian govt to meet affected startups, EV makers questioned about mispricing products
[ad_1] The sudden collapse of California-based Silicon Valley Bank has impacted several Indian startups. Now the central government is planning to meet representatives from these startups after the firms had requested for an intervention, top officials told ET. This and more in today’s ETtech Morning Dispatch. Also in this letter: ■ EV makers meet Govt ...
silicon valley: Can the chaos from Silicon Valley Bank’s fall be contained?
[ad_1] Can Washington come to the rescue of the depositors of failed Silicon Valley Bank? Is it even politically possible? That was one of the growing questions in Washington Sunday as policymakers tried to figure out whether the U.S. government – and its taxpayers – should bail out a failed bank that largely served Silicon ...
fdic: FDIC auction for failed SVB underway, final bids due Sunday
[ad_1] The Federal Deposit Insurance Corp. kicked off an auction process late Saturday for Silicon Valley Bank, with final bids due by Sunday afternoon, according to people familiar with the matter. The FDIC is aiming for a swift deal but a winner may not be known until late Sunday, according to one person, who asked ...
silicon valley bank: UK races to minimise damage from Silicon Valley Bank collapse
[ad_1] British finance minister Jeremy Hunt said on Sunday he was working with Prime Minister Rishi Sunak and Bank of England Governor Andrew Bailey to “avoid or minimise damage” resulting from the chaos engulfing the UK arm of Silicon Valley Bank. “We’ve been working at pace over the weekend, through the night,” Hunt told Sky ...
tech executives saving startups: SVB collapse: tech executives race to save startups from ‘extinction’
[ad_1] Technology executives, prominent venture capitalists and founders including OpenAI chief executive Sam Altman raced this weekend to keep alive companies caught up in the collapse of Silicon Valley Bank. Friday’s dramatic failure of the bank, which focuses on tech startups, was the biggest since the 2008 financial crisis. It roiled global markets, walloped banking ...
silicon valley bank collapse: Silicon Valley Bank collapse sets off blame game in tech industry
[ad_1] For once, the crisis didn’t seem to revolve around a cryptocurrency company. The sudden collapse of Silicon Valley Bank on Friday set off panic across the technology industry. But crypto executives and investors – who have endured a year of nearly constant upheaval – seized on the moment to preach and scold. Centralised banking ...