Congress Was Told Deregulating Banks Increased Crisis Risks. They Did It Anyway.

In 2018, Congress passed bipartisan legislation signed into law by President Donald Trump weakening regulations on mid-sized financial institutions like Silicon Valley Bank, whose collapse last week set off fears of another 2008-like financial crisis. The measure was supported by 33 House Democrats and 17 Democratic ...Read More

‘Nothing to do with crypto’: Regulators pour cold water on Barney Frank’s claim Signature Bank was targeted

After the New York Department of Financial Services took possession of Signature Bank on Sunday, speculation mounted that regulators had seized the bank because of its crypto-friendly stance and Signet payment platform, a popular tool for the blockchain industry. The narrative was boosted by former Rep. Barney Frank, ...Read More

Shareholders file lawsuit against Silicon Valley Bank, alleging fraud

A group of shareholders have reportedly filed a lawsuit against Silicon Valley Bank’s parent company and some of its executives amid the unfolding crisis. Multiple news outlets reported on March 13 that many Silicon Valley Bank shareholders alleged fraud from the bank, CEO Greg Becker and ...Read More

Crypto firms poised to spend more on compliance

Crypto shops weary from last year’s sequence of unfortunate events likely have strenuous regulatory calisthenics waiting for them, and executives see compliance costs rising across the board. Why it matters: Regulators’ hawkish stance on the industry signals a coming torrent of enforcement action — one that ...Read More

Alameda ex-CEO Caroline Ellison taps SEC’s former top crypto regulator as lawyer in FTX investigation

Alameda Research ex-CEO Caroline Ellison has retained a former top cryptocurrency regulator for the US Securities and Exchange Commission as the federal investigation into the downfall of FTX continues. Bloomberg first reported that Ellison hired Stephanie Avakian, chair of the securities and financial services department at ...Read More