Alameda Research, the bankrupt crypto hedge fund connected to FTX, has filed a lawsuit against Digital Currency Group’s asset management arm Grayscale over its bitcoin and ethereum investment trusts, FTX’s new management team announced Monday. Alameda and FTX’s management team allege that Grayscale violated trust agreements by charging high management fees and not allowing investors to redeem...
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Fintech’s Big Wakeup Call
Fintechs were supposed to transform banking by making it dead simple for users to open savings accounts or pay their bills. But a series of recent high-profile setbacks with both fintechs and the traditional banking sector is setting off alarm bells. This month’s series of bank collapses has shined a spotlight on the health of small banks, typically a behind-the-scenes partner of...
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The Instant Oral History of the Silicon Valley Bank Collapse
On a cosmic level, the collapse of Silicon Valley Bank was a mere blip. The murmurs about trouble began last Wednesday, the panic spread via group texts and Twitter threads on Thursday, the bank went under on Friday, the government got its act together on Saturday, and on Sunday every current and former customer of SVB could breathe a cautious sigh of relief.
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