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JPMorgan Mulls Blockchain-Based Deposit Token, Report

[Sep 9, 2023 4:00 PM] America’s biggest bank by assets, JPMorgan Chase, is exploring a blockchain-based deposit token for cross-border payments and interbank transfers. If approved by regulators, the banking giant may create the digital asset, which would be different…

Looking Into The Role Credit Unions Can Play In Bitcoin Adoption

[Jun 2, 2023 11:46 AM] In a recent interview with Bitcoin Magazine, Chief Lending Officer Chase Larson and CEO Jed Meyer of St. Cloud Financial Credit Union, based in Minnesota, discussed their experiences with Bitcoin and their efforts to develop a bitcoin custody…

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…

C6 Bank’s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of Banking

[Apr 14, 2023 1:30 PM] On April 13, a C6 Bank customer in Brazil shared screenshots of his online bank account, revealing that the financial institution was tracking CO2 emissions from his purchases and urging him to compensate monetarily. C6 Bank states that the new…

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…

On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank

[Mar 16, 2023 10:00 AM] Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S…

Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders

[Mar 14, 2023 1:30 PM] The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would…

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

[Mar 10, 2023 12:10 PM] After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can…

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

[Mar 9, 2023 11:30 AM] After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate…

Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue

[Mar 8, 2023 6:30 PM] Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters who insisted that Krugman was now realizing the…

Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing

[Mar 2, 2023 2:30 PM] On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The news follows the crypto bank’s…

Silvergate Bank Becomes Most Shorted Stock in US, but Sees Boost With Citadel Securities Stake

[Feb 14, 2023 1:00 PM] Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after…

Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD

[Feb 13, 2023 6:03 AM] According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor…

Ebay Expands Into NFT and Web3 Space With New Job Openings

[Feb 3, 2023 12:30 AM] The online marketplace giant, Ebay, is seeking to fill several positions in the area of Web3 and non-fungible token (NFT) technology, according to several Linkedin job postings. Ebay is looking for a “creative crypto attorney” for the…

Massachusetts-Based Bankprov to End Loan Offerings Secured by Cryptocurrency Mining Rigs

[Jan 31, 2023 1:30 PM] The Amesbury, Massachusetts-based Bankprov, a subsidiary of Provident Bancorp, has announced that it will no longer provide loans secured by cryptocurrency mining rigs. In a filing with the U.S. Securities and Exchange Commission (EX-99.1)…