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Millions Recovered: DOJ Orders Seized Funds Returned in Failed Bank’s Crypto Scheme
6.11.2024
A judge ordered millions seized in a Kansas crypto fraud scheme be returned to defrauded investors, marking partial relief for victims of the bank collapse. Millions Lost, Millions Returned: DOJ Mandates Restitution for Defrauded Investors The U.S. Department of Justice (DOJ) announced on Monday...
Billionaire Barry Sternlicht Foresees Banks Failing Every Week in US
12.5.2024
Barry Sternlicht, CEO of Starwood Capital Group, has voiced concerns about the vulnerability of regional and community banks in the U.S. to high interest rates and inflation, particularly amid the commercial real estate downturn. He forecasted frequent failures of these banks, predicting:...
Report Reveals Hundreds of US Banks at Risk of Failure Amid High Interest Rate Environment
3.5.2024
Following the dramatic bank failures last year and the recent collapse of Philadelphia’s Republic First Bank last week, an analysis by Klaros Group indicates that hundreds of U.S. banks are at risk of failure. The study reveals that smaller and regional banks are experiencing stress due...
Philadelphia’s Republic First Bank Closed by Regulators, Assets Assumed by Fulton Bank
27.4.2024
In the wake of a turbulent period for U.S. banks, the Pennsylvania Department of Banking and Securities has shut down Philadelphia-based Republic First Bank, also known as Republic Bank. The Federal Deposit Insurance Corporation (FDIC) has stepped in as receiver, with Fulton Bank assuming nearly...
Republic First Bank Fails, Triggers Minor Crypto Market Downturn Amid Banking Sector Concerns
27.4.2024
The United States witnessed its first banking failure of 2024 with the closure of Philadelphia-based Republic First Bank, creating ripples within the cryptocurrency community as Bitcoin, Ether, and various altcoins experienced slight price drops following the announcement. This event has spurred...
An In-Depth Look Into the 2023 Banking Crisis — 3 of the Largest Bank Failures in US History
28.12.2023
The U.S. economy experienced an interesting year in 2023, marked by unprecedented upheaval within the American banking sector due to the combined collapse of three major banks, the largest the nation has historically seen. Amidst this chaos, crypto assets such as bitcoin demonstrated remarkable...
Shark Tank Star Kevin O’Leary Warns of Emerging Financial Crisis, Bank Failures
6.9.2023
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has sounded the alarm about an impending financial crisis. “We have a crisis emerging,” he warned, emphasizing that small business owners will be “cut off at the regional bank level.” He stressed: “You’re going to hear a...
Poll: Majority of Americans See US Economy in Decline
3.8.2023
Despite months of increasingly positive economic indicators, a majority of Americans still believe the economy is worsening, according to a new CNN poll. CNN Poll Reveals Majority See Worsening Economy The survey of 1,279 adults found that 51% think the U.S. economy remains in a downturn that...
Shark Tank Star Kevin O’Leary Warns More US Banks Will Fail
1.8.2023
Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned that more banks in the U.S. will fail as the Federal Reserve continues to hike interest rates. He stressed: “It will break down in the regional banks, which support 60% of the economy … We’ve started to see...
QI Research’s DiMartino Booth Foresees ‘Full Damage’ Yet to Unfold in US Banking Sector
31.7.2023
Danielle DiMartino Booth, holding the dual roles of CEO and chief strategist at QI Research, foresees that the 22-year peak in interest rates set by the Fed is merely a precursor to what’s to come. She anticipates further upheaval within the banking industry. The strategist articulated...
Another US Bank Collapses: Heartland Tri-State Bank Closed by Regulator
30.7.2023
Heartland Tri-State Bank has become the latest bank in the U.S. to fail. The Kansas banking regulator closed the bank and appointed the Federal Deposit Insurance Corporation (FDIC) as the receiver on Friday. Regulator Shuts Down Heartland Tri-State Bank A regional bank in the U.S., Heartland...
JPMorgan CEO Jamie Dimon Calls 2023’s Banking Fiasco a ‘Mini Crisis’, Foresees Consumer Savings Depleted by Year’s End
15.7.2023
Four days ago, JPMorgan Chase CEO Jamie Dimon was interviewed by The Economist and he discussed the recent U.S. banking disaster that occurred last March. At that time, the public witnessed the second, third, and fourth largest bank failures in U.S. history. Dimon asserted that “for the most part,”...
Experts Warn of Impending Recession in the US as Survey Reveals 59% Chance by July 2024
14.7.2023
A recently published survey by Bankrate reveals that there is a 3-in-5 likelihood of a recession occurring in the United States within the next year. Bankrate’s survey of economists firmly indicates that the chances of a recession taking place in the U.S. are greater than the chances of...
The High Rate Environment — Bank of America Faces Paper Losses Exceeding $100 Billion
4.7.2023
Following the aftermath of the United States’ three major bank collapses, several market observers argue that the banking crisis in the country persists. Bank of America has recently garnered significant attention, with the Federal Deposit Insurance Corporation (FDIC) reporting that...
2 Rate Hikes or Hold? Fed Predictions Vary From No Rate Hikes to 6% in 2023
3.7.2023
Based on projections from the U.S. Federal Reserve, it is anticipated that the central bank will implement two additional increases to the federal funds rate within the span of 2023. As indicated by Fed policymakers, they estimate the benchmark bank rate to fall within the range of 5.5% to 5.75%...
Wealthy Investors and Family Offices Embrace BTC Following Bank Failures, Says Swan Bitcoin Executive
2.6.2023
According to Steven Lubka, the head of private clients and family offices, as well as the managing director at Swan Bitcoin, wealthy investors and private offices have been gravitating towards bitcoin since the downfall of Silicon Valley Bank (SVB). Lubka stated that his firm has also observed...
Swedbank Strategist Says US Banking Crisis Is Spreading — Warns of More Banks Failing in ‘Vicious Spiral’
7.5.2023
A strategist at Swedbank, a Swedish bank, has warned that the regional banking crisis in the U.S. is spreading. After several bank failures, he stressed that Pacwest Bank, Western Alliance Bank, and First Horizon Bank have all been “subject to financial meltdowns.” Swedbank on U.S. Banking...
Bitcoin Provides Insurance Against Fiat Currency Failure, Says Validus Power Corp.’s Greg Foss
7.5.2023
On 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....
Billionaire Bill Ackman on US Banking Crisis: We Are Running Out of Time to Fix This Problem
7.5.2023
Billionaire Bill Ackman has warned that “We are running out of time” to fix the problem that led to the collapses of regional banks. “How many more unnecessary bank failures do we need to watch before the FDIC, U.S. Treasury, and our government wake up?” he stressed, adding that “We need...
Fed Reveals 722 Banks Reported Unrealized Losses Over 50% of Capital as Concerns Over US Banking Crisis Grow
7.5.2023
The U.S. Federal Reserve has revealed that 722 banks reported unrealized losses exceeding 50% of their capital at the end of the third quarter of 2022. “Rising interest rates are creating significant unrealized losses in investment securities and in some cases depressing tangible equity,” according...