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US Banking Industry in Turmoil: A Comprehensive Look at the ‘Great Consolidation’ and Largest Bank Failures of 2023
4.5.2023
2023 has been a rollercoaster ride for the U.S. banking industry. The collapse of three major banks has sent shockwaves through the financial world, with their combined assets surpassing the top 25 banks that crumbled in 2008. The following is a closer look at what has triggered a ‘great...
IMF Chief Warns of More Weaknesses in US Banking Sector — Sees ‘Gradual’ Shift Away From US Dollar
4.5.2023
International Monetary Fund (IMF) Managing Director Kristalina Georgieva expects “more vulnerabilities” in the U.S. banking sector amid a growing de-dollarization trend worldwide. “There has been a gradual shift away from the dollar,” the IMF chief acknowledged. U.S. Banking...
Bitcoin's Dominance Rate Surges After U.S. Banking Crisis
4.5.2023
Bitcoin's outperformance during the banking crisis indicates the cryptocurrency is the anti-dollar liquid play for investors, one portfolio manager said
Bitcoin Rises as Latest Teetering U.S. Bank Sends Traders to Crypto Haven
3.5.2023
The California-based regional lender is weighing strategic options, according to Bloomberg
Analysts Warn of More Bank Failures, Possible Recession and Global Repercussions Caused by First Republic Bank Collapse
3.5.2023
The recent takeover of First Republic Bank, the fourth U.S. bank to fail this year, has awakened concerns about the possible repercussions this new failure might have on U.S. and international economies. While United States President Joe Biden has assured the public that the banking system remains...
Pacwest Stock Plummets Over 35% Following Release of Q1 Earnings Report Amidst Turmoil in Banking Industry
2.5.2023
Following 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...
Charlie Munger Raises Concerns Over Troubled Commercial Property Loans at US Banks
1.5.2023
Charlie Munger, the vice chairman of Berkshire Hathaway, stated in a recent interview that American banks are burdened with poor-quality commercial real estate loans. His comments arrive amid the collapse of three major U.S. banks and the expected seizure of First Republic Bank by the federal...
USDC Stablecoin Strengthened by U.S. Banking Crisis in March, Circle CEO Says
26.4.2023
The stablecoin has upgraded its market infrastructure after losing its peg during the crisis
US Consumer Price Index Rises 0.1% in March, Annual Inflation up 5% From Last Year
12.4.2023
On Wednesday, the U.S. Bureau of Labor Statistics published the Consumer Price Index (CPI) report, which noted that inflation rose 0.1% last month in March and 5% from a year ago. Annual inflation has dropped for nine consecutive months following the nine times the U.S. Federal Reserve raised...
U.S. Banking Crisis May be Vindication for Crypto Ecosystem: JPMorgan
12.4.2023
Bitcoin rallied in tandem with gold as they are both viewed as hedges to a catastrophic scenario, the report said
JPMorgan CEO Jamie Dimon Says Banking Crisis Not Over — Warns of ‘Repercussions for Years to Come’
11.4.2023
JPMorgan Chase CEO Jamie Dimon says the U.S. banking crisis is not over and “there will be repercussions from it for years to come.” The executive added that recent bank failures “have significantly changed the market’s expectations,” and the odds of a recession have...
Report: Binance US Struggles to Secure Banking Partner Amid Regulatory Crackdown on Crypto Industry
8.4.2023
Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, cryptocurrency companies have been seeking new banking partners in the United States. According to a recent report citing “sources familiar with the matter,” Binance US, the American subsidiary of...
Ethereum Shanghai hard fork: ETH price set for more gains versus Bitcoin in April
8.4.2023
Ethereum price has been gaining momentum in April, even against Bitcoin, as the much-anticipated Shanghai hard fork is just days away
Historical Bitcoin price fractal hints at rally toward $50K
7.4.2023
Bitcoin price in 2023 mirrors a 2015 fractal that saw BTC price doubling from $350 to $700 in seven months
U.S. Bitcoin Corp. Expected to Settle With City to Resume Mining in Niagara Falls
5.4.2023
The firm is currently trying to complete a merger with Canadian Hut 8 Mining
Regulators Should Heed Crypto Risks When Innovating Regulation, Says Chinese Central Bank Official
4.4.2023
A senior People’s Bank of China (PBOC) official has urged regulators to consider cryptocurrency risks and fraud that could lead to bank failures when innovating regulation. The Chinese official highlighted the recent collapse of U.S. banks that provided services to crypto customers as...
U.S. Banking System Turmoil Has Spurred Bitcoin Outperformance: Coinbase
3.4.2023
The cryptocurrency’s correlation to the S&P 500 stock index dropped to 25% at the end of March, the report said
‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks
3.4.2023
Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are already fully insolvent.” Roubini:...
Law Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses
29.3.2023
According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation Chokepoint 2.0,” claims that after laying...
U.S. Bank Regulators Investigating Leaders of the Failed Tech Banks
27.3.2023
The Federal Deposit Insurance Corp. is investigating the actions of the leaders of Signature Bank and Silicon Valley Bank to hold them accountable for their collapses, said Chairman Martin Gruenberg, who detailed their mismanagement and dangerous business concentrations – especially in digital...