Here's how the failures of Silicon Valley Bank and Signature Bank and moves by U.S. regulators may affect your wallet, according to financial advisors.
Investors flocked to safe-haven assets amid an emergency plan to backstop the banking system and limit the impact from the collapse of Silicon Valley Bank.
Eliminating the exclusivity clause of the agreement would allow Rivian to court new customers as it works to ramp up production and seeks a cash infusion.
Cryptocurrencies rallied on Monday as the U.S. government moved to protect depositors of the collapsed Silicon Valley Bank and HSBC bought the bank's U.K. arm.
"We can look our teams in the eye ... and say, not only will we be able to make next payroll but we can continue business as usual," said one startup founder.
Silicon Valley Bank required some clients to agree to exclusivity clauses, disabling them from diversifying where they held their money, SEC records show.
Circle, which issues USD Coin (USDC), said that the $3.3 billion it held with the now-collapsed SVB will be "fully available" on Monday when U.S. banks open.
Billionaire investor and Pershing Square CEO Bill Ackman said the U.S. government's intervention to protect depositors after the implosion of SVB is "not a bailout."
China's new premier Li Qiang said China's focus was shifting to what it calls high-quality development, such as building up tech and so-called green industries.