Nearly 200 more banks may be vulnerable to the same type of risk that took down Silicon Valley Bank: The value of the assets they hold. There are 186 banks across the country that could fail if half of their depositors quickly withdraw their funds, a new study published on the Social Science Research Network found. Even insured depositorsContinue reading “Nearly 200 banks at risk for same fate as SVB: study”
Category Archives: BUSINESS
Gov. Ron DeSantis’ takeover of New College of Florida puts $29 million in donations at risk
A former trustee at New College of Florida says 13 major donors told her they are canceling more than $29 million in planned contributions since Gov. Ron DeSantis began transforming the school, a huge financial blow to the small college. Charlie Lenger served on the New College board until Jan. 6, when DeSantis replaced her in a dramatic move thatContinue reading “Gov. Ron DeSantis’ takeover of New College of Florida puts $29 million in donations at risk”
Hedge fund manager Bill Ackman warns of ‘economic meltdown’ following Silicon Valley Bank collapse
Hedge-fund manager Bill Ackman predicted that an “economic meltdown” was looming on Monday following Friday’s collapse of Silicon Valley Bank. In a rambling, 649-word, one-paragraph tweet Saturday, the billionaire predicted that uninsured bank customers would rush to withdraw cash Monday unless the government steps in to guarantee their funds and “fix a-soon-to-be-irreversible mistake.” The 16th largest bank inContinue reading “Hedge fund manager Bill Ackman warns of ‘economic meltdown’ following Silicon Valley Bank collapse”
Silicon Valley Bank shut down by regulators in stunning collapse
The feds shut down Silicon Valley Bank on Friday, marking a stunning collapse for the tech lender that has sparked fears of a wider contagion in the banking sector. The California Department of Financial Protection and Innovation shuttered SVB and named the Federal Deposit Insurance Corp. as its receiver, officials said in a release. “To protectContinue reading “Silicon Valley Bank shut down by regulators in stunning collapse”
Crypto founder Tiantian Kullander unexpectedly dead at 30
The finance world has been rocked by the sudden and unexpected death of a young crypto founder at the age of just 30. Tiantian Kullander, the co-founder of Hong Kong-based digital asset company Amber Group, died in his sleep on November 23, with the news confirmed on the company’s website “with the deepest sadness andContinue reading “Crypto founder Tiantian Kullander unexpectedly dead at 30”
13 Black-owned brands to shop and save on this Cyber Monday
Not up for braving the crowds this post-Thanksgiving weekend? Prepare your thumbs, charge your laptops and get cozy because Cyber Monday is almost here! Cyber Monday is prime time to empty out those online shopping carts that have been full for weeks. Shop for everything from clothing to beauty and beyond in the comfort ofContinue reading “13 Black-owned brands to shop and save on this Cyber Monday”
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