Just In: Ripple discloses exposure to SVB; not caused business operations disruption
has declared exposure to the failed bank. And, this time around the firm in the headlines is Ripple – a popular blockchain-based digital payment network. In a Twitter thread, CEO Brad Garlinghouse stated that the company had exposure to SBV.
The CEO stated that the firm had held some cash balances in SBV as it was its banking partner. But, he did not disclose the amount held in the bank. Nonetheless, Garlinghouse assured that the bank’s collapse has not caused any disruption to its day-to-day business operations. Additionally, he stated that a “majority of our USD w/ a broader network of bank partners.”
Furthermore, Garlinghouse accepted that SVB’s future was “still unknown” but hopes to get more details on the situation soon. Ripple’s head also assured that the company’s financial position was “strong”. He“It’s ironic that so much of what’s happening highlights how broken our financial systems still are – i.e. wires are still not 24/7/365, rumors lead to collapse and the frictions of moving money within a deeply fragmented system.”Subscribe to get it daily in your inbox.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Can the UK save its startups as SVB fallout spreads around the worldBOE places the UK arm of the troubled Silicon Valley Bank under insolvency. The heads of 130 technology companies in the UK believe lender’s bankruptcy represents an existential threat to the UK tech sector. The UK is racing ahead of the clock to salvage the British arm of the collapsed Silicon Valley Bank after it […]
Lire la suite »
Assessing Tron CEO Justin Sun’s take on SVB saga and USDC depeggingJustin Sun revealed his thoughts on the USDC depeg and was worried about its impact. TRX bounced courtesy of accumulation during its brief dip into oversold territory. Tron founder and CEO Justin Sun is among the blockchain industry leading figures that have weighed in on SVB saga and USDC’s depeg. The latter was not as […]
Lire la suite »
Canadian banks erase $19.7 billion in value on Silicon Valley Bank contagionCanada\u0027s Scotiabank, BMO and TD fell more than 2% after the collapse of Silicon Valley Bank. Find out more.
Lire la suite »
Canada faces muted impact from Silicon Valley Bank failureSVB became one of the largest U.S. banks to fail since the 2008 financial crisis, as a California regulator closed it down after it faced a run on its deposits from companies seeking to withdraw cash from their accounts
Lire la suite »
Silicon Valley Bank is seized by U.S. regulators after historic failureU.S. regulators rushed to seize the assets of Silicon Valley Bank on Friday after a run on the bank, marking the largest failure of a financial institution since Washington Mutual collapsed at the height of the financial crisis more than a decade ago.
Lire la suite »
Canadian banks erase $19.7 billion in value on Silicon Valley Bank contagionCanada\u0027s Scotiabank, BMO and TD fell more than 2% after the collapse of Silicon Valley Bank. Find out more.
Lire la suite »