India’s SVC Bank Clarifies Its Business is Safe as Some Confuse it With Collapsed SVB

India’s SVC Bank Clarifies Its Business is Safe as Some Confuse it With Collapsed SVB

ByNews Polite

India’s 116-year-old SVC bank was compelled to issue an official clarification regarding the status of its business after confused customers mistook it for US’ recently shuttered SVB — Silicon Valley Bank. The similarity in the acronyms of their names may have led to the confusion. Putting the minds of its…

Crypto Lender Silvergate’s Shares Slumps 29 Percent as Firm Delays Annual Report in Wake of FTX Fallout

Crypto Lender Silvergate’s Shares Slumps 29 Percent as Firm Delays Annual Report in Wake of FTX Fallout

ByNews Polite

Shares of Silvergate Capital Corp slumped 29 percent in premarket trading on Thursday, after the cryptocurrency-focused lender warned it was delaying its annual report and said it was evaluating its ability to operate as a going concern. Silvergate (SI.N) reported a $1 billion (roughly Rs. 8,21,300 crore) loss for the fourth quarter…

Silvergate Capital Delays Plans to Launch Its Own US Dollar-Pegged Stablecoin

Silvergate Capital Delays Plans to Launch Its Own US Dollar-Pegged Stablecoin

ByNews Polite

Silvergate Capital, a crypto bank holding company, has decided to delay the launch of its long-awaited stablecoin, CEO Alan Lane said during the company’s third-quarter earnings call on Tuesday. California-based Silvergate Capital, the parent of Silvergate Bank, announced it was working on its own payments-focused stablecoin in January after acquiring…