Crypto News
“Explore the Possible Sale of Silicon Valley Bank – Get the Details Here”
CNBC previously reported that the potential collapse sparked concern from many in the sector. “Concern among founders and venture capital investors spiked earlier this week,” a report stated. Additionally noting SVB, “surprised the market by announcing late Wednesday it needed to raise $2.25 billion in stock.” To this point, the bank has been unable to raise the necessary funds. Subsequently, SVB Financial is seeking a sale. Conversely, CNBC noted that, despite its current state, “Large financial institutions are looking at a potential purchase of SVB.” Alternatively, there has been no update as to who could be interested.
Silicon Valley Bank Financial is in talks to sell itself due to failed attempts at raising capital, causing a plummet in stock prices, and mounting pressure on the banking sector as a whole. Despite this, there does appear to be a market for SVB if a sale is executed, with large financial institutions looking at a potential purchase. #SVBFinancial #SiliconValleyBank #BankingCrisis #FinancialPressure
You can read more about this topic here: Watcher Guru: Silicon Valley Bank Financial in Talks to Sell Itself
The post “Explore the Possible Sale of Silicon Valley Bank – Get the Details Here” first appeared on Byte Syze Crypto.
Tron founder and advisor to the exchange, Justin Sun, has stated that Huobi could get a Hong Kong crypto license in six to twelve months. Specifically, Sun told Coindesk that the exchange applied to become a virtual asset service provider (VASP) last week. Additionally, Sun discussed the process of the VASP application and his belief that the crypto exchange could have an answer by the end of the year. Huobi had recently relocated to Hong Kong, aiming to launch Huobi Hong Kong by the summer. Sun was asked about embracing potential competition in the Canadian market and noted the strict regulatory standards in the country, referring to the Caribbean, Hong Kong, and Japan. There has been no verification of other cryptocurrency exchanges that have applied for a similar license, however, Coindesk reported Sun’s expectation that five to six other exchanges could make the move.
This news is good for Huobi as they are in the process of obtaining a crypto license in Hong Kong, which would allow them to operate in the region and serve customers. Other exchanges may also apply for the license, and the grace period given to the exchange could provide them with the opportunity to get approval in the next six to twelve months.
#Huobi #HongKong #CryptoLicense #VASP #JustinSun
You can read more about this topic here: Watcher Guru: Justin Sun Says Huobi Could Get Hong Kong Crypto License in 6-12 Months
The post Justin Sun Predicts Huobi Crypto Exchange to Secure Hong Kong License in Under a Year first appeared on Byte Syze Crypto.
#CryptoSafety #RugPulls #DefiExploits #ProtectInvestors
You can read more about this topic here: Watcher Guru: Crypto Rug Pulls Outvalued Defi Attacks in May, $45 Million Lost
The post Crypto Rug Pulls: How $45 Million In Defi Attacks Were Lost In May first appeared on Byte Syze Crypto.
The Commodity Futures Trading Commission (CFTC) has proposed a re-modelled rule-set for risk management as part of its effort to respond to the U.S. banking crisis. Commissioner Christy Goldsmith Romero highlighted the need for such regulations due to the risks posed by the emergence of technologies like crypto, AI, and cloud services. The CFTC’s advance notice of proposed rulemaking will be open for public comments for 60 days. The final version will then be voted upon. #CFTC #RiskManagement #Crypto #Regulations
You can read more about this topic here: Watcher Guru: Crypto: U.S. CFTC Looking to Change Risk Rules
The post CFTC Set to Revamp Risk Regulations: How it Impacts the Crypto Industry first appeared on Byte Syze Crypto.
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