First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower

March 20, 2023 Bitcoin.com

Bailout

After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

March 19, 2023 Bitcoin.com

Bailout

Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and “bank failure.” On March 13, 2023, the search term “banking crisis” reached the top Google Trends […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

US Bank Outflows and Concerns Mount: 11 Banks Bail Out First Republic Bank From Collapse

March 17, 2023 Bitcoin.com

Bailout

After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen lenders announced they will deposit $30 billion into the beleaguered bank’s coffers to shore up liquidity. U.S. […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US

March 17, 2023 Bitcoin.com

anti-crypto message

On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal crypto activity” from the United States. Specifically, Emmer asked Gruenberg if […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply

March 16, 2023 Bitcoin.com

American Banks

The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications to purchase the banks are stringent, and reportedly, the purchasers cannot deal […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

British Bank Natwest Implements New Limits on Cryptocurrency Payments to Combat UK Crypto Scams

March 15, 2023 Bitcoin.com

Binance

On March 14, 2023, the U.K.-based bank Natwest Group announced new limits on cryptocurrency payments, citing crypto scams that cost U.K. consumers £329 million annually. The limit imposed on crypto exchanges is £1,000 daily ($1,215), with a 30-day limit of £5,000 ($6,077). Natwest’s Cautious Approach Towards Crypto Assets Prompts Another Transfer Limit Amid the banking […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

March 13, 2023 Bitcoin.com

anti-crypto

Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong anti-crypto message.” Frank, who also serves as a Signature […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

March 13, 2023 Bitcoin.com

Adrienne Harris

On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking

March 12, 2023 Bitcoin.com

19th century

After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why […]

“Bitcoin signals a potentially advantageous buying opportunity,” highlights Bitfinex report

Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships

February 25, 2023 Bitcoin.com

Citizens Trust Bank to Hold Million in USDC Reserves as Circle Expands Bank Partnerships

Atlanta

On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move is part of the company’s plan to allocate shares of the stablecoin’s denominated reserves to minority-owned depository institutions (MDIs) and community banks across the United […]

Financial Institutions