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Silvergate Bank
Silvergate Bank is a Californian bank that mostly deals in cryptocurrency transactions. Concerns have been raised about Silvergate's health following the fall in cryptocurrency prices and the bankruptcy of FTX in 2022. History Silvergate Bank was co-founded as a savings and loan association in 1988. In 1996 Silvergate was re-capitalized and reorganized into a bank by Dennis Frank and Derek J. Eisele, but it initially remained quite small with only 3 branches in southern California. It is now led by CEO Alan Lane and president Ben Reynolds, although Mr Eisele remains on the leadership team as chief credit officer. In 2013, CEO Alan Lane personally invested in Bitcoin, and Silvergate launched an initiative to start serving cryptocurrency clients. After this, the bank grew rapidly, reaching $1.9 billion in assets and 250 clients by 2017. The company became public in November 2019 at a share price of $13, and by November 2021 the price had risen by 1,580% to $219 due to the cry ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of stock which are intended to be freely traded on a stock exchange or in over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listed company), which facilitates the trade of shares, or not (unlisted public company). In some jurisdictions, public companies over a certain size must be listed on an exchange. In most cases, public companies are ''private'' enterprises in the ''private'' sector, and "public" emphasizes their reporting and trading on the public markets. Public companies are formed within the legal systems of particular states, and therefore have associations and formal designations which are distinct and separate in the polity in which they reside. In the United States, for example, a public company is usually a type of corporation (though a corporation need not be a public company), in the United Kingdom it is usually a public limited company (plc), i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Meta Platforms
Meta Platforms, Inc., (file no. 3835815) trade name, doing business as Meta and formerly named Facebook, Inc., and TheFacebook, Inc., is an American multinational technology conglomerate based in Menlo Park, California. The company owns Facebook, Instagram, and WhatsApp, among other products and services. Meta was once one of the List of public corporations by market capitalization, world's most valuable companies, but as of 2022 is not one of the top twenty biggest companies in the United States. It is considered one of the Big Tech, Big Five American information technology companies, alongside Alphabet Inc., Alphabet, Amazon (company), Amazon, Apple Inc., Apple, and Microsoft. As of 2022, it is the least profitable of the five. Meta's products and services include Facebook, Messenger (software), Messenger, Facebook Watch, and Meta Portal. It has also acquired Oculus (brand), Oculus, Giphy, Mapillary, Kustomer, Presize and has a 9.99% stake in Jio Platforms. In 2021, the compa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Cryptocurrency Companies
A cryptocurrency, crypto-currency, or crypto is a digital currency designed to work as a medium of exchange through a computer network that is not reliant on any central authority, such as a government or bank, to uphold or maintain it. It is a decentralized system for verifying that the parties to a transaction have the money they claim to have, eliminating the need for traditional intermediaries, such as banks, when funds are being transferred between two entities. Individual coin ownership records are stored in a digital ledger, which is a computerized database using strong cryptography to secure transaction records, control the creation of additional coins, and verify the transfer of coin ownership. Despite their name, cryptocurrencies are not considered to be currencies in the traditional sense, and while varying treatments have been applied to them, including classification as commodities, securities, and currencies, cryptocurrencies are generally viewed as a distinct ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Financial Services Companies Established In 1988
Finance is the study and discipline of money, currency and capital assets. It is related to, but not synonymous with economics, the study of production, distribution, and consumption of money, assets, goods and services (the discipline of financial economics bridges the two). Finance activities take place in financial systems at various scopes, thus the field can be roughly divided into personal, corporate, and public finance. In a financial system, assets are bought, sold, or traded as financial instruments, such as currencies, loans, bonds, shares, stocks, options, futures, etc. Assets can also be banked, invested, and insured to maximize value and minimize loss. In practice, risks are always present in any financial action and entities. A broad range of subfields within finance exist due to its wide scope. Asset, money, risk and investment management aim to maximize value and minimize volatility. Financial analysis is viability, stability, and profitability assessmen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1988 Establishments In California
File:1988 Events Collage.png, From left, clockwise: The oil platform Piper Alpha explodes and collapses in the North Sea, killing 165 workers; The USS Vincennes (CG-49) mistakenly shoots down Iran Air Flight 655; Australia celebrates its Australian Bicentenary, Bicentennial on January 26; The 1988 Summer Olympics are held in Seoul, South Korea; Soviet Union, Soviet troops begin their Soviet-Afghan War, withdrawal from Afghanistan, which is completed the 1989, next year; The 1988 Armenian earthquake kills between 25,000-50,000 people; The 8888 Uprising in Myanmar, led by students, protests the Burma Socialist Programme Party; A bomb explodes on Pan Am Flight 103, causing the plane to crash down on the town of Lockerbie, Scotland- the event kills 270 people., 300x300px, thumb rect 0 0 200 200 Piper Alpha rect 200 0 400 200 Iran Air Flight 655 rect 400 0 600 200 Australian Bicentenary rect 0 200 300 400 Pan Am Flight 103 rect 300 200 600 400 1988 Summer Olympics rect 0 400 200 600 8888 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bankruptcy Of FTX
The bankruptcy of FTX is the ongoing liquidation of Bahamas-based cryptocurrency exchange FTX, beginning in November 2022. The collapse of FTX, caused by a liquidity crisis of the company's token, FTT, served as the impetus for its bankruptcy. Prior to its collapse, FTX was the third-largest cryptocurrency exchange by volume and had over one million users. On 2 November 2022, ''CoinDesk'' published an article stating that Alameda Research, a trading firm affiliated with FTX and owned by FTX chief executive Sam Bankman-Fried, held a significant amount of FTX's exchange token, FTT. Following the allegations, Binance—a competing cryptocurrency exchange and a prior investor in FTX—announced it would sell its FTT, leading the market price of the token to crash. The move also triggered a spike in withdrawals from FTX, causing the exchange to freeze withdrawals and creating a liquidity crisis. On 8 November, Binance signed an offer to acquire FTX, but then withdrew the offer. On 11 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Reuters
Reuters ( ) is a news agency owned by Thomson Reuters Corporation. It employs around 2,500 journalists and 600 photojournalists in about 200 locations worldwide. Reuters is one of the largest news agencies in the world. The agency was established in London in 1851 by the German-born Paul Reuter. It was acquired by the Thomson Corporation of Canada in 2008 and now makes up the media division of Thomson Reuters. History 19th century Paul Reuter worked at a book-publishing firm in Berlin and was involved in distributing radical pamphlets at the beginning of the Revolutions in 1848. These publications brought much attention to Reuter, who in 1850 developed a prototype news service in Aachen using homing pigeons and electric telegraphy from 1851 on, in order to transmit messages between Brussels and Aachen, in what today is Aachen's Reuters House. Reuter moved to London in 1851 and established a news wire agency at the London Royal Exchange. Headquartered in London, Reuter' ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Kennedy (Louisiana Politician)
John Neely Kennedy (born November 21, 1951) is an American lawyer and politician who has served as the junior United States senator from Louisiana since 2017. He served as the Louisiana State Treasurer from 2000 to 2017. Kennedy has been a member of the Republican Party since 2007; he was a Democrat from 1988 to 2007. Born in Centreville, Mississippi, Kennedy graduated from Vanderbilt University and the University of Virginia School of Law before attending Magdalen College, Oxford. He was a member of Governor Buddy Roemer's staff before running for state attorney general in the 1991 election. In 1999, he was elected state treasurer; he was reelected to that position in 2003, 2007, 2011, and 2015. Kennedy was an unsuccessful candidate for U.S. Senate in 2004 and 2008. In 2007, he switched parties and became a Republican. In 2016, when U.S. Senator David Vitter opted not to seek reelection, Kennedy ran for Senate again. He finished first in the November nonpartisan blanket pr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Roger Marshall (politician)
Roger Wayne Marshall (born August 9, 1960) is an American politician, physician, and former military officer serving as the junior United States senator from Kansas since 2021. A member of the Republican Party, he served from 2017 to 2021 as the U.S. representative for , a mostly rural district covering much of the western and northern parts of the state. An obstetrician, Marshall was first elected to Congress in 2016, defeating incumbent Tim Huelskamp in the Republican primary for . On September 7, 2019, he announced his bid for the United States Senate in the 2020 election; he sought the seat being vacated by Pat Roberts. Marshall won the August 4 Republican primary and was elected on November 3, defeating Democratic nominee Barbara Bollier. Marshall was sworn in on January 3, 2021. On January 6, 2021, Marshall joined a group of Republican senators led by Josh Hawley and Ted Cruz in support of the objections to Pennsylvania's and Arizona's electoral votes, both of which wer ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Elizabeth Warren
Elizabeth Ann Warren ( née Herring; born June 22, 1949) is an American politician and former law professor who is the senior United States senator from Massachusetts, serving since 2013. A member of the Democratic Party and regarded as a progressive, Warren has focused on consumer protection, equitable economic opportunity, and the social safety net while in the Senate. Warren was a candidate in the 2020 Democratic Party presidential primaries, ultimately finishing third. Born and raised in Oklahoma, Warren is a graduate of the University of Houston and Rutgers Law School and has taught law at several universities, including the University of Houston, the University of Texas at Austin, the University of Pennsylvania, and Harvard University. She was one of the most influential professors in commercial and bankruptcy law before beginning her political career. Warren has written 12 books and more than 100 articles. Warren's first foray into public policy began in 1995, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidity
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Liquidity is a concept in economics involving the convertibility of assets and obligations. It can include: * Market liquidity, the ease with which an asset can be sold * Accounting liquidity, the ability to meet cash obligations when due * Liquid capital, the amount of money that a firm holds * Liquidity risk, the risk that an asset will have impaired market liquidity See also *Liquid (other) *Liquidation (other) Liquidation is the conversion of a business's assets to money in order to pay off debt. Liquidation may also refer to: * Murder * Fragmentation (music), a compositional technique * ''Liquidation'' (miniseries), a Russian television series See a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many clients withdraw their money from a bank, because they believe the bank may cease to function in the near future. In other words, it is when, in a fractional-reserve banking system (where banks normally only keep a small proportion of their assets as cash), numerous customers withdraw cash from deposit accounts with a financial institution at the same time because they believe that the financial institution is, or might become, insolvent; they keep the cash or transfer it into other assets, such as government bonds, precious metals or gemstones. When they transfer funds to another institution, it may be characterized as a capital flight. As a bank run progresses, it may become a self-fulfilling prophecy: as more people withdraw cash, the likelihood of default increases, triggering further withdrawals. This can destabilize the bank to the point where it runs out of cash and thus faces sudden bankruptcy. To combat a bank run, a bank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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