(WASHINGTON) -- The Federal Reserve was aware of risks to Silicon Valley Bank more than a year before its collapse, ABC News confirmed on Monday following a New York Times report.Even more, ABC News has confirmed a Wall Street Journal report that the Fed... Read More.
(NEW YORK) -- An Ohio public pension fund for teachers revealed it lost millions by holding more than $27 million in Silicon Valley Bank shares before the bank’s collapse.The State Teachers Retirement System (STRS) of Ohio stated that the shares represented a minuscule portion... Read More.
(NEW YORK) -- The failure of Silicon Valley Bank, the second-biggest bank collapse in U.S. history, called into doubt the fate of roughly $175 billion in customer deposits.Days later, the U.S. government guaranteed the protection of all Silicon Valley Bank deposits but the turmoil left... Read More.
(NEW YORK) -- Silicon Valley Bank's failure on Friday raises concerns over the potential impacts on the climate technology industry, where SVB was heavily involved."They went out of their way to attract entrepreneurs, to attract companies in the technology industry. They were one of the... Read More.
(NEW YORK) -- The collapse of Silicon Valley Bank, the second-biggest bank failure in U.S. history, took place over less than 48 hours.Customers withdrew $42 billion -- nearly a quarter of the bank's total deposits -- within a single day last week.The speedy bank run... Read More.
(WASHINGTON) -- The Justice Department and Securities and Exchange Commission are probing the collapse of Silicon Valley Bank, according to two people familiar with the situation.The probes, which are separate, are in the preliminary stages and it is not clear whether any wrongdoing has... Read More.
(NEW YORK) -- The largest bank failure since the 2008 crisis has triggered a major U.S. government intervention to protect the financial system.Silicon Valley Bank, the nation's 16th largest bank, collapsed on Friday, forcing a government takeover and calling into question the fate of... Read More.
(WASHINGTON) -- The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation announced Sunday that they will make additional funding available to ensure all Silicon Valley Bank deposits, both insured and uninsured, will be paid in full."After receiving a recommendation from the boards of... Read More.
(NEW YORK) -- Nishad Singh, former director of engineering at FTX, the bankrupt cryptocurrency exchange founded by Sam Bankman-Fried, agreed Tuesday to plead guilty to criminal charges, according to his lawyers and federal prosecutors in New York.Singh agreed to plead guilty to six counts of... Read More.
(BALTIMORE) -- At least one person is dead and five others have been injured after a driver in a stolen vehicle slammed into a building and caused it to collapse in an attempt to flee from police.The incident occurred at approximately 8:54 p.m. on... Read More.
(CINCINNATI, Ohio) -- Buffalo Bills player Damar Hamlin remains hospitalized in the intensive care unit at the University of Cincinnati Medical Center in critical condition after he collapsed Monday night during a game against the Cincinnati Bengals.Hamlin, 24, went into cardiac arrest with 5:58... Read More.
(NEW YORK) -- In the hours after Buffalo Bills' safety Damar Hamlin suffered a cardiac arrest and collapsed on the field Monday night, thousands of concerned fans showed their support via an online fundraiser created by the young NFL star previously, which has now... Read More.