CompaniesBIO

In this photo illustration of the TradingView stock market chart of SVB Financial Group seen displayed on a smartphone with the SVB Financial Group logo in the background.  Igor Golovniov | Lightrocket | Getty Images Venture capital firms on both sides of the Atlantic have been urging their portfolio companies to move money out of embattled lender Silicon Valley Bank, deepening fears of a run on the tech-focused bank. Silicon Valley Bank shares plunged 60% Thursday after disclosing that it needed to shore up its capital with a $2.25 billion equity raise from investors including General Atlantic. The company's stock was down another 60% in premarket trading Friday. SVB is a major bank in the technology startup space, having developed relationships with the VC community over its four decade existence. Providing traditional banking services while also funding tech projects, it is considered a backbone of the venture capital industry in the U.S. Numerous VC funds, including major playe...

Tom Williams | CQ-Roll Call, Inc. | Getty Images The quant trading firm Sam Bankman-Fried founded was able to quietly use customer funds from his exchange FTX in a way that flew under the radar of investors, employees and auditors in the process, according to a source. The way they did it was by using billions from FTX users without their knowledge, says the source. related investing news Solana is facing its 'crucible moment' after the FTX blowup sent it down 50% last week Tanaya Macheel 11 hours ago Here's how bitcoin futures ETFs performed in a dramatic week for crypto Jesse Pound 11 hours ago Alameda Research, the fund started by Bankman-Fried, borrowed billions in customer funds from its founder's exchange, FTX, according to a source familiar with company operations, who asked not to be named because the details were confidential. The crypto exchange drastically underestimated the amount FTX needed to keep on hand if someone wanted to cash out, according to the ...

People walk along Waterloo Bridge past the City of London skyline, the capital's financial district. U.K.-focused equity funds saw record outflows in 2022. Sopa Images | Lightrocket | Getty Images LONDON — Investors ditched U.K. stock funds at a record rate last year, according to new research, with the selling outpacing that in other major markets. Funds network Calastone reported Thursday that there were total outflows of £8.38 billion ($9.95 billion) from U.K.-focused equity funds in 2022 — the worst in its eight years of recording the data. Equity funds are grouped investments that predominantly focus on shares of companies. related investing news Wells Fargo says this top bank pick can jump 55% this year Hugh Son 2 days ago That compared with £2.65 billion in outflows from other European stock funds, £1.17 billion from North American funds and £1 billion from Asia-Pacific funds. Three quarters of equity fund losses were in the third quarter, the company said, which was timed w...

Tom Williams | CQ-Roll Call, Inc. | Getty Images The quant trading firm Sam Bankman-Fried founded was able to quietly use customer funds from his exchange FTX in a way that flew under the radar of investors, employees and auditors in the process, according to a source. The way they did it was by using billions from FTX users without their knowledge, says the source. related investing news Solana is facing its 'crucible moment' after the FTX blowup sent it down 50% last week Tanaya Macheel 11 hours ago Here's how bitcoin futures ETFs performed in a dramatic week for crypto Jesse Pound 11 hours ago Alameda Research, the fund started by Bankman-Fried, borrowed billions in customer funds from its founder's exchange, FTX, according to a source familiar with company operations, who asked not to be named because the details were confidential. The crypto exchange drastically underestimated the amount FTX needed to keep on hand if someone wanted to cash out, according to the ...