Economy Mar 13 What to know about the Silicon Valley Bank collapse Two large banks that cater to the tech industry have collapsed after a bank run, government agencies are taking emergency measures to backstop the financial system, and President Joe Biden is reassuring Americans that the money they have in banks…
Economy Mar 12 Federal government moves urgently to avert potential banking crisis The U.S. government took extraordinary steps Sunday to stop a potential banking crisis after the historic failure of Silicon Valley Bank, assuring depositors at the failed financial institution that they would be able to access all of their money quickly.
Economy Mar 10 Silicon Valley Bank seized by FDIC after largest failure since the Great Recession It is the second-largest bank failure in history, behind only the failure of Washington Mutual in 2008. The bank failed after depositors — mostly technology workers and venture capital-backed companies — began withdrawing their money creating a run on the…
Nation Feb 09 FTX founder Bankman-Fried facing trial, keeps talking He was indicted in December and charged with perpetrating one of the biggest frauds in U.S. history — and he’s still talking, either in person or on the internet.
Economy Jan 12 Bank to pay $31M for avoiding mortgages to minorities, largest such settlement in U.S. history The Justice Department accused Los Angeles-based City National Bank on Thursday of discriminating against Black and Latino residents, requiring the bank to pay more than $31 million in what is the largest redlining settlement in history.
Nation Dec 21 FTX founder extradited to U.S. to face charges Sam Bankman-Fried told a Bahamian court Wednesday that he has agreed to be extradited to the U.S. to face criminal charges related to the collapse of cryptocurrency exchange FTX.
Politics Dec 13 WATCH: U.S. Attorney's office gives update on the arrest of FTX founder Sam Bankman-Fried U.S. prosecutors gave more details about the criminal charges filed against FTX founder Sam Bankman-Fried Tuesday, including an allegation that he made illegal campaign contributions totaling in the "tens of millions of dollars."…
Nation Dec 13 Former FTX CEO Bankman-Fried charged with wire fraud, money laundering Sam Bankman-Fried was also charged with violating campaign finance laws, a notable as Bankman-Fried was one of the largest political donors this year.
Nation Dec 01 Former FTX CEO Bankman-Fried says he didn't 'knowingly' misuse customers' funds The former CEO of the failed cryptocurrency exchange FTX says that he did not "knowingly" misuse customers' funds.
Nation Nov 14 FTX head Sam Bankman-Fried's downfall sends shockwaves through cryptocurrency Sam Bankman-Fried received numerous plaudits as he rapidly achieved superstar status as the head of cryptocurrency exchange FTX: the savior of crypto, the newest force in Democratic politics and potentially the world's first trillionaire.