Insights

Banks halted on exchanges, Silicon Valley Bank now closed by California regulators

exchange68September 13, 2024

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Quick Take

Signature bank halted after dropping a record 22%, while 30% down in the past five days.
Other banks have been halted, including First Republic and SIVB.
SIVB is down 60%; these three banks have combined nearly $500 billion in deposits.
SIVB fundraising has so far failed, with deposit outflows outpacing the sale process.
SVIB now closed by California regulators
First Republic announced a capital raise of $125 million, share price continues to collapse.
The two-year treasury yield is down 45bps from yesterday’s high, which is the biggest two-day drop since Lehman (2008)

Analyst

James Van Straten

Former Lead Analyst at CryptoSlate

James fervently appreciates data, technology, and trend-spotting. As a tech and liberty maximalist, he hails Bitcoin as the 21st century’s paramount invention.

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