2 / 4 Relevant items tagged with #FDIC

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If Over 2,300 Banks In America Are Bankrupt, Will Bitcoin Break Above $40,000?

[May 7, 2023 8:41 PM] The United States banking system is in trouble as over 2,300 financial institutions could have more liabilities than assets, recent analysis reveals. Subsequently, analysts say this could boost Bitcoin prices in the weeks and months ahead if the…

Billionaire Bill Ackman on US Banking Crisis: We Are Running Out of Time to Fix This Problem

[May 6, 2023 7:30 PM] 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…

SEC Probes First Republic Bank Executives for Insider Trading; Lawmakers Dump Bank’s Shares Before Collapse

[May 6, 2023 1:30 PM] 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…

Ethereum price outlook weakens, but ETH derivatives suggest $1.6K is unlikely

[May 2, 2023 6:48 AM] Another top 20 U.S. bank bites the dust, but Ether’s 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

[May 1, 2023 2:00 PM] 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…

Will $28K Bitcoin price hold? Two indicators remain solid despite 5% pullback

[May 1, 2023 9:40 AM] 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

[May 1, 2023 6:35 AM] 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…

First Republic’s crisis is not an isolated incident - suggests JPMorgan exec

[Apr 30, 2023 12:18 AM] The CIO of JPMorgan Asset Management said it’d be “naive to say that this is just limited to First Republic.”

FDIC alleges Cross River engaged in 'unsafe' lending practices

[Apr 29, 2023 7:23 PM] 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

[Apr 29, 2023 12:00 PM] 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…

First Republic Bank Faces Potential Takeover by FDIC Amidst Financial Struggles

[Apr 29, 2023 8:00 AM] 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…

US Government in Talks to Rescue Struggling First Republic Bank, Sources Say

[Apr 28, 2023 12:00 PM] 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…

Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says

[Apr 28, 2023 11:00 AM] 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

[Apr 6, 2023 12:22 PM] 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’

[Apr 5, 2023 5:30 PM] 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…

Fed liquidity injections drive down US Treasury yields, but not Bitcoin price

[Apr 4, 2023 12:30 PM] Regulatory uncertainty and the recent enforcement actions taken against major crypto exchanges reduces the odds of Bitcoin breaking above $30,000 in the short-term, but investors are still bullish.

That Binance Suit Sure Seems Bigger Than Just a CFTC Case

[Mar 29, 2023 2:09 PM] Between Coinbase, Binance, Justin Sun, Do Kwon and Custodia, there has been just so much news over the last week. And that’s largely just the U.S. But Binance is the most interesting, not only for what happened (the Commodity Futures Trading…

Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations

[Mar 29, 2023 2:00 PM] On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the…

The Short-Sightedness of Run-Amok Regulators

[Mar 29, 2023 10:44 AM] Ric Edelman, founder of the Digital Assets Council of Financial Professionals, talks about a key reason why crypto’s future looks bleaker: an apparent effort to cut it off from U.S. banks.

Signature’s crypto clients told to close their accounts by April 5: Report

[Mar 28, 2023 8:01 PM] Any crypto deposits not transferred to another bank by April 5 will be liquidated and a check mailed to the client's address.

FDIC Gives Deadline Next Week for Crypto Depositors Stranded by Signature Failure

[Mar 28, 2023 4:07 PM] The Federal Deposit Insurance Corp. (FDIC) is trying to hurry the stranded crypto customers out the door of the temporary entity that holds the assets of the former Signature Bank, asking them to cash out by next week – whether they have a new bank…

Law Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses

[Mar 28, 2023 4:00 PM] 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…

First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B

[Mar 27, 2023 2:30 PM] According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and…

U.S. Bank Regulators Investigating Leaders of the Failed Tech Banks

[Mar 27, 2023 12:46 PM] 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…

First Citizens Buys Silicon Valley Bank, Assuming $72B in Loans, $56B in Deposits

[Mar 27, 2023 12:20 AM] The Federal Deposit Insurance Corp. also acquired equity appreciation rights in the parent of First Citizens Bank, which is potentially worth up to $500 million.

Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector

[Mar 24, 2023 11:30 AM] U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S…

Bitcoin Emerges as Safe Haven as Traditional Finance Faces Turmoil

[Mar 22, 2023 11:40 AM] Conflicting data creates the question of how the Fed will react to both rising inflation and failing banks - and whether bitcoin will be a lifeboat.

The Reality Behind the Crypto Banking Crackdown: ‘Operation Choke Point 2.0’ Is Here

[Mar 22, 2023 11:23 AM] Banking enforcement targeting legal crypto businesses appears to violate the FDIC's mandate. It may also be amplifying financial contagion.

'Operation Choke Point 2.0' may have contributed to SVB collapse: Mulvaney

[Mar 21, 2023 8:49 PM] While the existence of "Operation Choke Point 2.0" has not been confirmed, Mick Mulvaney spoke of “rumors” of its existence and the potential side effects of such a policy.

Looking at Some Unanswered Signature and Silvergate Bank Questions

[Mar 21, 2023 5:55 PM] It seems the crypto industry still has some questions about Signature and Silvergate’s shutdowns.