2 / 2 Relevant items tagged with #BankingCrisis

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The Fall of Medici Bank: Lessons on Fractional Reserve Banking From 15th Century Italy

[Apr 16, 2023 11:30 AM] Amid the banking chaos of the 21st century, some are looking back more than 600 years ago, to the Medici Bank — one of the most powerful banks of its time. It established its business and became one of the most respected banks in Europe during its…

JPMorgan CEO Jamie Dimon Says Banking Crisis Not Over — Warns of ‘Repercussions for Years to Come’

[Apr 10, 2023 5:30 PM] 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…

Economists Expect the Fed to Reveal Another 25bps Rate Hike Before Pausing for the Rest of 2023

[Apr 10, 2023 8:00 AM] After the March rate hike by the Federal Reserve, economists believe that the recent move by Saudi Arabia and several members of the Organization of the Petroleum Exporting Countries (OPEC) to cut oil production could complicate the central…

‘Panic of 2023’: James Corbett Explains How Bank Crisis Could Lead to CBDC ‘Nightmare of Total Monetary Control’

[Mar 31, 2023 12:30 PM] Investigative journalist James Corbett has recently referred to the ongoing global banking crisis involving SVB, Signature Bank, Credit Suisse and others as the “Panic of 2023,” drawing comparisons to what he views as historical…

Fed Bank President: Banking Crisis Tips US Economy Toward Recession

[Mar 28, 2023 7:30 PM] The president of the Federal Reserve Bank of Minneapolis, Neel Kashkari, says the current banking crisis has pushed the U.S. economy closer to a recession. “We have fundamental issues, regulatory issues facing our banking system,” the…

French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud

[Mar 28, 2023 1:00 PM] On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of money laundering and fiscal fraud. According…

Credit Suisse, UBS, Other Banks Facing Russia Sanctions Probe in US, Report

[Mar 25, 2023 3:30 PM] Switzerland’s troubled Credit Suisse and its rescuer, USB, are subject to an investigation into whether bankers helped Russian oligarchs evade Western sanctions, according to a media report. Some major U.S. banking institutions are also under…

Shares of Deutsche Bank, Other Euro Lenders Tumble

[Mar 24, 2023 3:30 PM] Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and…

Fed balance sheet adds $393B in two weeks — Will this send Bitcoin price to $40K?

[Mar 24, 2023 8:23 AM] The U.S. central bank's liabilities may increase if more regional banks fail, creating an upside scenario for the price of Bitcoin.

Ethereum faces 6-month lows versus Bitcoin — Will ETH price rebound?

[Mar 23, 2023 4:18 AM] Ethereum price has turned oversold against Bitcoin, raising the possibilities of a rebound in the coming weeks.

Why is Cardano price up today?

[Mar 22, 2023 6:41 AM] Cardano whales are largely behind ADA’s price rally in the last week, helped by Bitcoin’s multimonth highs amid the banking crisis and Fed pivot hopes.

Bitcoin's banking crisis surge will 'attract more institutions': ARK's Cathie Wood

[Mar 21, 2023 8:24 PM] Cathie Wood was impressed that Bitcoin “moved in a very different way” compared to the equity market in response to the recent banking crisis.

Several Major Central Banks Take Coordinated Action to Boost Liquidity Amidst Banking Crisis

[Mar 20, 2023 8:00 AM] On Sunday evening, March 19, 2023, at 5:00 p.m. Eastern Time, the U.S. Federal Reserve, along with several central banks including the Bank of England, Bank of Canada, Bank of Japan, the European Central Bank, and the Swiss National Bank, announced…

Bitcoin To $30,000? Fed Unveils New Tool To Bailout Non-US Banks

[Mar 20, 2023 3:00 AM] As the US banking crisis is growing into a global banking crisis, the Bitcoin price is trading above $28,000 again, showing an extremely strong trend that suggests further gains. One of the main reasons to remain bullish in this regard is that the…

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

[Mar 19, 2023 11:30 AM] 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…

Chair of EU Parliament’s Committee on Budgets Calls for Crypto Ban Amid Banking Turmoil

[Mar 19, 2023 1:00 AM] A European lawmaker has urged authorities to impose a ban on cryptocurrencies citing the current crisis in the banking sector as a reason. Johan Van Overtveldt, former finance minister of Belgium, believes these assets bring no economic or social…

Mike Novogratz Warns of Credit Crunch in US and Globally — Expects Fed to Cut Rates ‘Sooner Than We Think’

[Mar 18, 2023 9:30 PM] Galaxy Digital CEO Mike Novogratz has warned of a credit crunch in the U.S. and globally. Emphasizing that “we are heading into a recession,” he expects the Federal Reserve to cut interest rates “sooner than we think.”…

Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains

[Mar 18, 2023 12:30 PM] At the start of the week, a troy ounce of .999 fine gold was trading at $1,813 per unit. Seven days later, gold rose 9.65% against the U.S. dollar to the current spot price of $1,988 per ounce. Gold’s rise comes at a time when confidence in…

More People Are Downloading Crypto Apps Like Coinbase, Binance, Here’s Why

[Mar 17, 2023 5:00 PM] According to real-time app data provider Apptopia, the top 10 crypto applications for exchanges and self-custody wallets have risen by about 15% since Silicon Valley Bank (SVB) and two other lenders fell last week. Bank App Demand Drops The recent…

Bitcoin Is Now Directly Correlated With The US Dollar

[Mar 17, 2023 8:30 AM] In the ongoing banking crisis in the United States, the US Dollar (USD) appears to correlate directly with Bitcoin. Bitcoin Positively Correlates With USD According to Kaiko, a digital assets market provider, Bitcoin, the most valuable…

The US Fed adds $297 Billion In A Week, Fanning Bitcoin Rally

[Mar 17, 2023 3:35 AM] The total amount of assets held by United States Federal Reserve (Fed) banks is up 3.56% in the past week, rising to $8.639 trillion from $8.342 trillion, trackers on March 17 show. Fed Injected $297 Billion Into The Market Last Week With the Fed…

Conflux (CFX) Shows Mettle, Shoots Up Over 87% Despite Crypto Market Pressures

[Mar 16, 2023 2:38 PM] Although Bitcoin is far and away the most popular cryptocurrency, there are other digital currencies like Conflux (CFX) that are doing rather well. In order to achieve even greater levels of success than its rivals, Conflux is constantly innovating…

Bitcoin returns to $25K as Credit Suisse bailout precedes EU rate hike move

[Mar 16, 2023 5:38 AM] A day of important macroeconomic news both in the U.S. and Europe sees BTC price action circling the all-important $25,000 zone.

Bitcoin Price Explodes 10% In 24 Hours With A Breach Of The $24,000 Level

[Mar 14, 2023 3:08 AM] The Bitcoin price has increased over the past week as a result of the escalating banking crisis in the United States and the federal government’s efforts to mitigate its effects. Bitcoin (BTC) was able to breach the $24,000 barrier on…

Coinbase, Celsius and Paxos disclose funds in Signature Bank

[Mar 12, 2023 11:34 PM] The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm.

Bank of England Shuts Down Silicon Valley Bank’s UK Branch After US Regulators Close Parent Company

[Mar 11, 2023 4:30 PM] After U.S. regulators shut down Silicon Valley Bank (SVB) on Friday, the Bank of England has closed the company’s U.K.-based arm. The central bank explained that it intends to place the subsidiary into bank insolvency procedures. Fallout From…