Bankruptcies & Financial Collapses

Category: Bankruptcies

March 27, 2023

Banking Turmoil: First Citizen Acquires Assets Of Collapsed Silicon Valley Bank!

First-Citizens Bank, one of the largest regional banks in the U.S., is buying big pieces of collapsed Silicon Valley Bank (SVB) more than two weeks after the lender’s collapse sent tremors through the banking system, the Federal Deposit Insurance Corp (FDIC) announced. The purchase includes $119 billion in deposits and about $72 billion of SVB’s loans at a discount of $16.5 billion. Some $90 billion of SVB’s securities will remain in receivership.

March 23, 2023

Montenegro Interior Minister Announced Arrest Of Terra-Luna Founder Do Kwon!

Do Kwon, the co-founder of the failed TerraUSD stablecoin, has been arrested in Montenegro after months of hiding, Montenegro Interior Minister Filip Adzic said on Twitter. The suspect was detained in the airport of the country’s capital of Podgorica with false documents. In September, South Korean authorities issued a warrant for Kwon’s arrest in September. The U.S. Justice Department is investigating the collapse of TerraUSD, WSJ reports.

Bankruptcies

March 21, 2023

Peter Thiel: Did He Or Did He Not Pull The Trigger For The Bank Run?

Currently, the industry is searching for the culprits of the banking run that brought down first California's Silicon Valley Bank (SVB) and then New York's Signature Bank. Bank run works through mass psychology that prominent influencers can easily trigger, especially in a nervous market environment. Some say it was the comments and recommendations of influential that tech mogul Peter Thiel triggered the run on SVB. However, Thiel claims he himself lost $50 million with the SVB collapse.

March 20, 2023

Our 10 Cents On Crypto: The Sudden Death Virus And The Banking Collapse Pandemic!

Times in the global financial markets could hardly be more turbulent. Since 2022, we are experiencing the spreading of the Sudden Death Virus in the financial industry. First, the crypto segment was hit by the collapse of the Terra-Luna stablecoin scheme and the resulting bankruptcies from Three Arrows Capital to FTX. The virus jumped to the legacy banking system and we saw the collapse of Silicon Valley Bank and Signature Bank in the U.S. and now Credit Suisse in Switzerland.

March 20, 2023

Rotten Legacy Deal: UBS Announced Take-Over Of Failed Credit Suisse!

UBS announced that it plans to acquire Credit Suisse to create a business with more than USD 5 trillion in total invested assets and sustainable value opportunities. It will create a leading Swiss-based global wealth manager with more than USD 3.4 trillion in invested assets combined. UBS will pay 3 billion Swiss francs ($3.23 billion) for 167-year-old Credit Suisse and assume up to $5.4 billion in losses in a deal backed by a massive Swiss guarantee and expected to close by the end of 2023.

March 19, 2023

Bank Crisis! The Credit Suisse Bail-Out Plans Allegedly Announced Later Today!

While the crypto sector has seen a view strong days, the legacy banking system is still fighting a global bank crisis. In Switzerland, banks, authorities, and government officials are under intense time pressure to discuss the rescue of the struggling Credit Suisse. All sides want UBS to takeover Credit Suisse before the stock exchanges open on Monday. Credit Suisse has allegedly rejected an offer from UBS and may be nationalized.

March 16, 2023

Troubled Legacy Banks: Credit Suisse Needs State-Provided Lifeline To Go Ahead!

Credit Suisse is Switzerland’s second-largest bank after UBS Group, with assets of around $580 billion at the end of 2022, more than twice the size of Silicon Valley Bank (SBV), which failed last week. Over the last few days, Credit Suisse shares and bonds have lost massive value because of nasty rumors. The bank announced it would borrow up to 50 billion Swiss francs ($53.7 billion) from the Swiss National Bank (SNB) to shore up its liquidity.

March 15, 2023

Signature Bank Had Nothing To Do With Crypto, The New York Regulator Said!

The New York State Department of Financial Services (NYDFS) said its decision to close Signature Bank had "nothing to do with crypto" but was triggered by "a significant crisis of confidence in the bank's leadership" after the collapse of Silicon Valley Bank. This contradicts Signature Bank board member and former U.S. Rep. Barney Frank, who said that he was the closure of the bank as a very strong sign of the anti-crypto attitude of regulators. The bank would not have been illiquid, he said.

March 14, 2023

Blame Game! KPMG Gave Collapsed U.S. Banks Clean Bill Of Health Weeks Before Their Sudden Death!

Last Friday, Silicon Valley Bank (SVB) was closed by California regulator DFPI due to a bank run and placed under FDIC control. The DFPI stated that SVB had been financially sound until a few days before. The WJS reports that KPMG issued a clean bill of health to SVB just 14 days before. The New York-based Signature Bank went down 11 days after KPMG signed off on its audit. This raises the question of whether KPMG has overlooked something.

March 13, 2023

The Conspiracy Narrative Behind The Global Spreading Of Sudden Death Virus In A Nutshell!

The narrative of the sudden death of U.S. banks Silvergate, Silicon Valley Bank, and most recently Signature Bank sounds like a complicated conspiracy story written by John Grisham, Ken Follet, or John Le Carre. The main character is Sam Bankman-Fried (SBF). He allegedly intentionally triggered the collapse of the Terra-Luna stablecoin scheme in 2022 and, with it, the implosion of the worldwide crypto scene, which finally also swept the banking scene, forcing states and regulators to intervene.

March 13, 2023

Who’s Next? Crypto-Friendly Signature Bank Closed By U.S. Regulators; Protection Scheme Implemented!

U.S. regulators on Sunday shut down New York-based Signature Bank, a big lender in the crypto industry, to prevent the spreading banking crisis. The regulators said depositors at Signature Bank would have full access to their deposits, regardless of the amount. A similar bail-out procedure will be applied to the failed Silicon Valley Bank. With Signatur Bank, three banks collapsed last week that were systemically important to the startup and crypto sectors.

March 13, 2023

Silver Lining: Bitcoin Recovers From Last Week’s Bank Collapses On Bail-Out Hopes!

After a short period of weakness, the leading currencies of the crypto segment are unimpressed by the collapse of Silvergate and Silicon Valley Bank (SVB) last week. Both Californian banks were also of systemic importance for the crypto segment. Bitcoin briefly fell below the $20,000 mark last week but is again showing at the beginning of the week at well over $22,000. Similarly, Ether has risen more than 9% to over $1,600. This price hikes may be connected to hopes of a SVB bail-out.

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.