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FDIC Chair Criticizes Signature Bank's Lack of Understanding on Crypto Risks
16.5.2023
Amid crashing stock prices, the Federal Deposit Insurance Corporation (FDIC) points fingers at crypto and poor management for Signature Bank’s demise.
Remarking at a US House of Reps hearing, FDIC chair, Martin Gruenberg, attributed Signature’s failure to ignorance of the risks associated with...
Signature Bank failed to understand risks associated with crypto: FDIC chair
16.5.2023
A related report penned down by FDIC Chief Risk Officer cited poor management as “the root cause of Signature Bank’s failure.”
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...
SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse
6.5.2023
After 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...
What's Next for Crypto Prices as US Regional Banks Take a Hit? – yPredict Tool Makes AI Price Predictions Easy
5.5.2023
The US banking sector is in the midst of a crisis, and the government's efforts have been insufficient, and some would even say damaging.
As regional banks face financial headwinds, the cryptocurrency market is on the lookout for ripple effects.
Amidst the crisis, yPredict's presale has received...
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...
Democratic Presidential Candidate Robert F. Kennedy Jr. Says It Is a “Mistake” To Hinder Crypto
3.5.2023
Democratic presidential candidate Robert F. Kennedy Jr. has taken to Twitter over the past day or so to air his thoughts about cryptocurrency regulation.
Kennedy most recently criticized the Biden Administration’s renewed call to propose a 30 percent tax on crypto-mining, calling it a “bad...
Ethereum price outlook weakens, but ETH derivatives suggests $1.6K is unlikely
2.5.2023
Another top-20 U.S. bank bites the dust, but Ethereum price fails to benefit from the event
Stabilizing the Banking System: Biden Reassures Public Amid First Republic Bank Collapse, but Warns of National Debt Default
1.5.2023
Amid 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...
Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback
1.5.2023
BTC margin markets and futures’ long-to-short indicator show professional traders unwilling to bet on Bitcoin's price dropping
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators
1.5.2023
On 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...
First Republic’s crisis is not an isolated incident - suggests JPMorgan exec
30.4.2023
The CIO of JPMorgan Asset Management said it’d be “naive to say that this is just limited to First Republic.”
FDIC pins Signature Bank's failure on poor governance and illiquidity
30.4.2023
FDIC blamed SBNY’s board of directors and management for pursuing “unrestrained growth” using uninsured deposits without implementing liquidity risk management strategies
FDIC alleges Cross River engaged in 'unsafe' lending practices
30.4.2023
Cross River is yet to admit nor deny the allegations that it “engaged in the unsafe or unsound banking practices” related to its lending activity in 2021
Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures
29.4.2023
On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC)...
First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles
29.4.2023
According to multiple reports, First Republic Bank is facing significant financial difficulties and could be taken over by the Federal Deposit Insurance Corporation (FDIC) if private sector banks do not intervene. The FDIC has reportedly approached several large commercial banks regarding...
US Government in Talks to Rescue Struggling First Republic Bank, Sources Say
28.4.2023
Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector...
Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says
28.4.2023
The federal banking regulator said Signature’s exposure to crypto industry deposits was also a contributing factor to its failure
$1.12B in Bitcoin options expire this week, and bulls appear to be at a disadvantage
6.4.2023
Commodities rallied as the U.S. Treasury struggled with the banking crisis, but Bitcoin bulls also overplayed their hand in this week’s options expiry
Yellen Says US ‘Not Willing to Allow Contagious Bank Runs,’ Calls OPEC Oil Production Cut ‘Unconstructive’
6.4.2023
Roughly 26 days ago and in the following days, the U.S. witnessed two significant bank failures when Silicon Valley Bank and Signature Bank collapsed. After speaking at an event on Monday at Yale University, Janet Yellen, the current U.S. Treasury secretary, told reporters that she was closely...