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Banking Industry

Speculation Intensifies Over US Banking Sector’s Fate as Fed’s BTFP Closure Looms

Speculation Intensifies Over US Banking Sector’s Fate as Fed’s BTFP Closure LoomsThis weekend, many are intrigued by the potential outcomes following the cessation of the U.S. Federal Reserve’s Bank Term Funding Program (BTFP), launched amidst the significant banking collapses in March 2023. Some argue that the banking turmoil is far from over, suggesting it has merely been postponed, with institutions like New York Community Bancorp (NYCB) […]

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Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss

Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg FossOn May 4, in a recent Youtube video, Validus Power Corp.’s executive director, Greg Foss, discussed the potential for the banking industry’s failures to wipe out $10 trillion in equity. Foss expressed his support for “hard assets” such as real estate, gold, and bitcoin. He believes that bitcoin, the leading crypto asset, is one of […]

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SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse

SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before CollapseAfter the second largest bank failure in history, the U.S. Securities and Exchange Commission (SEC) is reportedly investigating First Republic Bank executives for allegedly engaging in insider trading. Two sources have claimed that the securities regulator is scrutinizing the bank’s executives for making trades using confidential information. Although the sources have not named any specific […]

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US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company Calls

US Banking Crisis Looms as ‘Credit Tightening’ Mentions Reach Record Highs on Company CallsRecent data reveals that while the banking industry in the U.S. is facing significant challenges, executives are mentioning “credit tightening” more frequently in earnings calls than during the 2008 financial crisis. Additionally, Google Trends data indicates a surge in search queries related to bank failures and crises. The findings suggest that the U.S. economy is […]

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Breaking the Barriers of Traditional Banking With Digital Assets

Breaking the Barriers of Traditional Banking With Digital AssetsAnother one bites the dust! The banking industry in the United States is in trouble, and regional banks are feeling the squeeze. A number of banks have failed recently due to mismanagement, poor risk management, and other factors which are leading to bailouts and buyouts from large players. They’re consolidating with larger banks faster than […]

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Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry

Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking IndustryFollowing the acquisition of First Republic Bank by JPMorgan Chase, several regional banks such as Pacwest and Western Alliance experienced a significant drop in their stock prices. On Tuesday afternoon, all four major U.S. benchmark stock indexes are in decline as regional bank stocks hit new lows. Banking Industry on Edge as Pacwest Shares Sink […]

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Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default

Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt DefaultAmid the collapse of the second, third, and fourth largest banks in American history, U.S. president Joe Biden reassured the public that the country’s banking system remains sturdy. However, the president also acknowledged the “threat by the speaker of the House to default on the national debt.” Biden Expresses Confidence in American Banking System Despite […]

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JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California RegulatorsOn May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable to meet its obligations. Following the seizure, JPMorgan Chase submitted the winning bid […]

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Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023 

Bank of America Strategist Predicts Gold Could Reach ,500 per Ounce in 2023 A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve the projected $2,500 target, […]

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US Banking Industry Still Struggling as First Republic Bank Shares Plummet by Over 30%

US Banking Industry Still Struggling as First Republic Bank Shares Plummet by Over 30%In the midst of a tumultuous week, First Republic Bank is struggling to regain its footing in the financial world. Reports have surfaced that the bank is poised to enter government receivership due to a massive outflow of $100 billion in customer withdrawals last month. This has prompted investors to flee the bank, causing its […]

Permianchain and Vertical Data Team Up to Bring GPU-as-a-Service to MENA