|
Silvergate Capital
Silvergate Bank was a California bank founded in 1988. The company began providing services for cryptocurrency users in 2016, and conducted an IPO in 2019. In November 2022, concerns were raised about Silvergate's health, after a fall in cryptocurrency prices and the bankruptcy of FTX. In March 2023, the bank announced plans to wind down and liquidate. Its failure was one of the first in the 2023 United States banking crisis. Foundation and growth Silvergate Bank was founded as a savings and loan association. In 1996, it was re-capitalized and reorganized into a bank by Dennis Frank and Derek J. Eisele, but it initially remained a three-branch community bank in the San Diego region. In 2013, CEO Alan Lane personally invested in Bitcoin; the company launched an initiative to start serving cryptocurrency clients in 2016. After this, the bank grew rapidly, reaching $1.9 billion in assets and 250 clients by 2017. The company conducted an IPO in November 2019 at a share price of $13 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Public Company
A public company is a company whose ownership is organized via shares of share capital, stock which are intended to be freely traded on a stock exchange or in over-the-counter (finance), over-the-counter markets. A public (publicly traded) company can be listed on a stock exchange (listing (finance), 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 so 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 Kin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
San Diego Metropolitan Area
San Diego County (), officially the County of San Diego, is a county in the southwest corner of the U.S. state of California, north to its border with Mexico. As of the 2020 census, the population was 3,298,634; it is the second-most populous county in California and the fifth-most populous in the United States. Its county seat is San Diego, the second-most populous city in California and the eighth-most populous in the United States. It is the southwesternmost county in the 48 contiguous United States, and is a border county. It is home to 18 Indian reservations, the most of any county in the United States. There are 16 military installations of the U.S. Navy, Marine Corps, and Coast Guard in the county. San Diego County comprises the San Diego–Chula Vista–Carlsbad, CA Metropolitan Statistical Area, which is the 17th most populous metropolitan statistical area and the 18th most populous primary statistical area in the United States. San Diego County is also part of ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank Run
A bank run or run on the bank occurs when many Client (business), clients withdraw their money from a bank, because they believe Bank failure, the bank may fail 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, insolvency, insolvent. 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 may acquire more cash from other banks or from the central bank, or limit the a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Short Seller
In finance, being short in an asset means investing in such a way that the investor will profit if the market value of the asset falls. This is the opposite of the more common long position, where the investor will profit if the market value of the asset rises. An investor that sells an asset short is, as to that asset, a short seller. There are a number of ways of achieving a short position. The most basic is physical selling short or short-selling, by which the short seller borrows an asset (often a security such as a share of stock or a bond) and sells it. The short seller must later buy the same amount of the asset to return it to the lender. If the market price of the asset has fallen in the meantime, the short seller will have made a profit equal to the difference in price. Conversely, if the price has risen then the short seller will bear a loss. The short seller usually must pay a borrowing fee to borrow the asset (charged at a particular rate over time, similar to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FTX (company)
FTX Trading Ltd., trading as FTX (Futures Exchange), is a Bankruptcy of FTX, bankrupt company that formerly operated a cryptocurrency exchange and crypto hedge fund. The exchange was founded in 2019 by Sam Bankman-Fried and Gary Wang (American businessman), Gary Wang and collapsed in 2022 after massive fraud perpetrated by Bankman-Fried and his partner Caroline Ellison forced the company to file for Chapter 11 bankruptcy. At its peak in July 2021, the company had over one million users and was the third-largest cryptocurrency exchange by volume. As of November 2022, FTX was the third-largest digital currency exchange boasting an active trading volume of US$10 billion and a valuation of $32 billion. FTX is incorporated in Antigua and Barbuda and headquartered in the Bahamas. FTX is closely associated with FTX.US, a separate exchange available to US residents. Since November 11, 2022, FTX has been in Chapter 11 bankruptcy proceedings in the US court system. Public concern began ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Diem (digital Currency)
Diem (formerly known as Libra) was a permissioned blockchain-based stablecoin payment system proposed by the American social media company Facebook. The plan also included a private currency implemented as a cryptocurrency. The launch was originally planned to be in 2020, but only rudimentary experimental code was released. The project, currency, and transactions would have been managed and cryptographically entrusted to the Diem Association, a membership organization of companies from payment, technology, telecommunication, online marketplace and venture capital, and nonprofits. Before December 2020, the project was called "Libra", although this was changed to Diem following legal challenges regarding its name and logo. The project generated backlash from government regulators in the European Union (EU), the United States, other countries, and among the general public over monetary sovereignty, financial stability, privacy, and antitrust concerns which ultimately helped kil ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Meta Platforms
Meta Platforms, Inc. is an American multinational technology company headquartered in Menlo Park, California. Meta owns and operates several prominent social media platforms and communication services, including Facebook, Instagram, Threads (social network), Threads, Facebook Messenger, Messenger and WhatsApp. The company also operates an advertising network for its own sites and third parties; , advertising accounted for 97.8 percent of its total revenue. The company was originally established in 2004 as TheFacebook, Inc., and was renamed Facebook, Inc. in 2005. In 2021, it rebranded as Meta Platforms, Inc. to reflect a strategic shift toward developing the metaverse—an interconnected digital ecosystem spanning virtual reality, virtual and augmented reality technologies. Meta is considered one of the Big Tech, Big Five American technology companies, alongside Alphabet Inc., Alphabet (Google), Amazon (company), Amazon, Apple Inc., Apple, and Microsoft. In 2023, it was rank ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stablecoin
A stablecoin is a type of cryptocurrency where the value of the digital asset is supposed to be pegged to a reference asset, which is either fiat money, exchange-traded commodities (such as precious metals or industrial metals), or another cryptocurrency. In theory, 1:1 backing by a reference asset could make a stablecoin value track the value of the peg and not be subject to the radical changes in value common in the market for many digital assets. In practice, stablecoin issuers have yet to be proven to maintain adequate reserves to support a stable value, and there have been a number of failures with investors losing the entirety of the (fiat currency) value of their holdings. Background Stablecoins have several purported purposes. They can be used for payments and are more likely to retain value than highly volatile cryptocurrencies. In practice, many stablecoins have failed to retain their "stable" value. Stablecoins are typically non-interest bearing and therefore do no ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Institutional Investor
An institutional investor is an entity that pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked companies, insurers, pension funds, sovereign wealth funds, charities, hedge funds, real estate investment trusts, investment advisors, endowments, and mutual funds. Operating companies which invest excess capital in these types of assets may also be included in the term. Activist institutional investors may also influence corporate governance by exercising voting rights in their investments. In 2019, the world's top 500 asset managers collectively managed $104.4 trillion in Assets under Management (AuM). Institutional investors appear to be more sophisticated than retail investors, but it remains unclear if professional active investment managers can reliably enhance risk-adjusted returns by an amount that exceeds fees and expenses ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Euro
The euro (currency symbol, symbol: euro sign, €; ISO 4217, currency code: EUR) is the official currency of 20 of the Member state of the European Union, member states of the European Union. This group of states is officially known as the euro area or, more commonly, the eurozone. The euro is divided into 100 1 euro cent coin, euro cents. The currency is also used officially by the institutions of the European Union, by International status and usage of the euro, four European microstates that are not EU members, the British Overseas Territory of Akrotiri and Dhekelia, as well as unilaterally by Montenegro and Kosovo. Outside Europe, a number of special territories of EU members also use the euro as their currency. The euro is used by 350 million people in Europe and additionally, over 200 million people worldwide use currencies pegged to the euro. It is the second-largest reserve currency as well as the second-most traded currency in the world after the United Sta ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
US Dollar
The United States dollar (symbol: $; currency code: USD) is the official currency of the United States and several other countries. The Coinage Act of 1792 introduced the U.S. dollar at par with the Spanish silver dollar, divided it into 100 cents, and authorized the minting of coins denominated in dollars and cents. U.S. banknotes are issued in the form of Federal Reserve Notes, popularly called greenbacks due to their predominantly green color. The U.S. dollar was originally defined under a bimetallic standard of (0.7734375 troy ounces) fine silver or, from 1834, fine gold, or $20.67 per troy ounce. The Gold Standard Act of 1900 linked the dollar solely to gold. From 1934, its equivalence to gold was revised to $35 per troy ounce. In 1971 all links to gold were repealed. The U.S. dollar became an important international reserve currency after the First World War, and displaced the pound sterling as the world's primary reserve currency by the Bretton Woods Ag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fiat Currencies
Fiat money is a type of government-issued currency that is not backed by a precious metal, such as gold or silver, nor by any other tangible asset or commodity. Fiat currency is typically designated by the issuing government to be legal tender, and is authorized by government regulation. Since the end of the Bretton Woods system in 1976 by the Jamaica Accords, the major currencies in the world are fiat money. Fiat money generally does not have intrinsic value and does not have use value. It has value only because the individuals who use it as a unit of account or, in the case of currency, a medium of exchange agree on its value. They trust that it will be accepted by merchants and other people as a means of payment for liabilities. Fiat money is an alternative to commodity money, which is a currency that has intrinsic value because it contains, for example, a precious metal such as gold or silver which is embedded in the coin. Fiat also differs from representative money, w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
