Signature Bank failed to understand risks associated with crypto: FDIC chair A related report by the FDIC chief risk officer cited poor management as “the root cause of Signature Bank’s failure.” News Join us on social networks Investigations around the collapse of Signature Bank point toward illiquidity circumstances and poor management. However, the Federal Deposit Insurance Corporation (FDIC) chairman, Martin J. Gruenberg, believes that the bank’s […]
GAO cites exposure to digital assets in exploring collapse of Signature Bank Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure. News Join us on social networks The United States Government Accountability Office, or GAO, has released its preliminary review of the failures of Silicon Valley Bank and Signature Bank — and included […]
Concern over banking crisis reaches levels unseen since 2008 — Poll According to a recent poll from Gallup, nearly half of Americans polled expressed concern about the safety of their money deposited with banks. News Join us on social networks Public opinion of banks appears to be dwindling according to an April survey, as the industry struggles to contain the collapse of several high-profile financial institutions […]
Ex-Coinbase Exec Balaji Srinivasan Closes Out $1 Million Bitcoin Bet Former Chief Technology Officer at Coinbase, Balaji Srinivasan, closed out early a bet that the price of bitcoin would hit $1 million by mid-June amid hyperinflation of the U.S. dollar. Srinivasan paid a total of $1.5 million, more than the initially committed $1 million, with two-thirds of the money donated to two organizations. Former Coinbase […]
Russian Banks Set for Record Profits This Year, Central Bank, Rating Agency Say Bank of Russia raised its forecast for the profits of Russian banks in 2023, expecting results that may break the 2021 record. This year’s high numbers are coming after 2022 became the worst annual period in seven years for the sanctioned Russian banking sector in terms of financial outcome. Banks in Russian Federation Headed for […]
Breaking the Barriers of Traditional Banking With Digital Assets Another 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 […]
How can Bitcoin hold $28K amid the banking crisis? On this week’s episode of The Market Report, Cointelegraph’s resident expert discusses whether Bitcoin’s $28,000 support has a chance amid the recent banking crisis. Cointelegraph YouTube Subscribe Own this piece of history Collect this article as an NFT Join us on social networks In today’s Market Report episode, analyst and writer Marcel Pechman discusses whether […]
Ethereum price outlook weakens, but ETH derivatives suggests $1.6K is unlikely Another top-20 U.S. bank bites the dust, but Ethereum price fails to benefit from the event. Market Analysis Own this piece of history Collect this article as an NFT Join us on social networks Ether (ETH) price has shown weakness after failing to break above the $1,950 resistance on April 26. The subsequent correction drove […]
Bitcoin price threatens $28K support as pre-FOMC mood boosts US dollar Bitcoin bulls fail to get a grip despite worries over U.S. banking sector stability, with BTC price near four-day lows. Market Update Own this piece of history Collect this article as an NFT Join us on social networks Bitcoin (BTC) headed toward $28,000 support after the May 1 Wall Street open as markets digested fresh […]
JPMorgan to acquire troubled First Republic Bank Banking giant JPMorgan will take over the assets of the troubled First Republic Bank after its seizure by the California Department of Financial Protection and Innovation. News Own this piece of history Collect this article as an NFT Join us on social networks The American banking giant JPMorgan Chase is set to acquire First Republic […]
FDIC pins Signature Bank's failure on poor governance and illiquidity FDIC blamed SBNY’s board of directors and management for pursuing “unrestrained growth” using uninsured deposits without implementing liquidity risk management strategies. News Own this piece of history Collect this article as an NFT Join us on social networks The United States Federal Deposit Insurance Corp’s (FDIC) post-mortem assessment of Signature Bank of New York (SBNY) […]
Almost 50 Russian Banks Accept Yuan Deposits Amid Low Demand for Dollar Accounts A growing number of banking institutions in Russia are offering customers the option to save in Chinese yuan. The trend coincides with declining demand for U.S. dollar and euro deposits amid currency restrictions that triggered a flight of funds to bank accounts abroad. Demand for Dollar, Euro Accounts Expected to Drop Further, Requests for Yuan […]
Crypto-Friendly Cross River Bank Is In The FDIC’s Crosshairs The Federal Deposit Insurance Corp has issued a consent order to Cross River Bank. The order directed the crypto-friendly bank to take corrective action and address its unsafe banking practices. The FDIC issued the order on March 8 but it was made public on Friday. The U.S. Federal Deposit Insurance Corporation (FDIC) has reportedly issued […]
Fed, NYDFS assess their supervisory performance after March’s big bank failures Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management. News Own this piece of history Collect this article as an NFT Join us on social networks Bank regulators in the United States have turned from introspection […]
Wyoming defends crypto-friendly bank charter regime in Custodia Bank's lawsuit with Fed “The State of Wyoming believes that this changes the tenor of the suit and in turn questions the legitimacy and viability of the State’s statutory framework," said AG Bridget Hill. Own this piece of history Collect this article as an NFT Join us on social networks The U.S. state of Wyoming has requested to intervene […]
Dollar to Play Lesser Role Due to Its Weaponization, Digital Currencies, Economist Jeffrey Sachs Says
Swiss State-Owned Banking Giant Postfinance to Offer Crypto Services Postfinance, one of Switzerland’s largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum. Postfinance Partners With Sygnum to Provide Digital Asset Products and Services The financial services unit of the national postal service […]
Swiss state-owned bank Postfinance to offer Bitcoin trading PostFinance’s parent firm Swiss Post is known for its pro-crypto stance, working on its own crypto custody services and issuing crypto stamp collectibles. News Own this piece of history Collect this article as an NFT Join us on social networks PostFinance, a retail bank fully owned by the Swiss government, is preparing to offer cryptocurrency […]
Stablecoins are solution to crypto’s banking problem, exec says Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues. Interview Own this piece of history Collect this article as an NFT The collapses of banks like Silvergate have certainly impacted cryptocurrency exchanges but there are ways for the industry to survive without […]
Africa: The next hub for Bitcoin, crypto adoption and venture capital? Cointelegraph’s Elisha Owusu Akyaw shares how cryptocurrency is changing the financial landscape in Africa — and the opportunities and challenges that come with it. Podcast Own this piece of history Collect this article as an NFT The cryptocurrency space has no shortage of skeptics. While many people criticize the environmental impact of proof-of-work blockchains or […]
UBS’s acquisition of Credit Suisse brings some good and bad for crypto Many in Switzerland have said that UBS’ takeover of Credit Suisse was necessary to avoid a calamitous banking crisis like that seen in 2008. Follow up Own this piece of history Collect this article as an NFT On Sunday, March 19, the 167-year history of banking giant Credit Suisse ended with a takeover by the […]
