Ulrich Körner, chief executive officer of Credit Suisse Group AG, during a Bloomberg Television interview in London, UK, on Tuesday, March 14, 2023 – Hollie Adams/Bloomberg Once the pride of the...
Tag: Banking
Coinbase Announces Partnership With Standard Chartered Amidst Banking Sector Turmoil
Coinbase is ramping up its expansion effort, with Singapore being the first stop. As part of its ambitious plan, the crypto exchange has announced forging a strategic banking partnership with Standard...
Dow Jones Dives 500 Points On Renewed Banking Fears As Credit Suisse Crashes 28%
The Dow Jones Industrial Average dived more than 500 points Wednesday, as Credit Suisse (CS) crashed 28% on reports the company’s largest investor, Saudi National Bank, withdrew funding. Meanwhi...
What the Banking Panic Means for Fed Rates Next Week.
As markets recovered on Tuesday, the banking crisis that kicked off on Friday looked a little less scary, though the turmoil may not be over yet. There is optimism that the problems that sank Silicon ...
Top 5 Cryptocurrencies To Watch Amidst The Ongoing Banking Crisis
The market for cryptocurrencies needed a way to process crypto-to-fiat payments or withdrawals with the same 24/7 stamina as that of the traditional financial system. Silvergate and Signature Bank fil...
As banking system seized up crypto networks didn’t miss a…
Banking system instability caused widespread panic over the last few days. On the other hand, crypto networks continued operating without missing a beat. Mistakes in banking were to blame for bank run...
Credit Suisse shares tumble to new record low as European banking sector reels
Swiss banking giant Credit Suisse on Wednesday saw its shares fall to a new record low, pressuring the broader market and the rest of the European banking sector days after two lenders collapsed in th...
6 key signals of rising financial stress in the US banking system
The US financial system is precariously positioned following the failures of Silvergate (NYSE: SI), Silicon Valley Bank (NASDAQ: SIVB) and Signature Bank (NASDAQ: SBNY). Regulators have stepped in wit...
Here’s what crypto-firms are up to following the U.S Banking crisis
Companies in search for new banking partners after collapse of three in less then a week Anchorage Digital announces layoffs amid uncertain regulatory environment The recent turmoil in the U.S. bankin...
US Banking System Nursing Over $600,000,000,000 Worth of Unrealized Losses, Warns Macro Guru Lyn Alden
Popular macro strategist Lyn Alden is warning investors that the US banking system is sitting on hundreds of billions of dollars worth of unrealized losses. In a fresh installment of the macro guru’s ...
State Street Sees Moody’s US Banking Cut ‘Terrible Overreaction’
(Bloomberg) — The head of one of the world’s largest asset managers called Moody’s Investors Service’s outlook cut for the US banking system “a terrible overreaction” and said regulators had rea...
Banking Crisis the Best Bitcoin Advertisement for New Traders Flooding Into BTC, According to InvestAnswers
A widely followed crypto strategist says the US banking crisis is one of the best advertisements for traders interested in Bitcoin (BTC). In a new interview on Crypto Banter, the anonymous host of Inv...
‘I’m not seeing true danger here’: Michael Burry says U.S. banking crisis to be resolved ‘very quickly’
Investor Michael Burry said in a tweet late Monday that he expects the crisis surrounding the collapse of California’s Silicon Valley Bank to be resolved “very quickly” one day after comparing SVB’s c...
Silicon Valley Bank committed ‘one of the most elementary errors in banking,’ Larry Summers says
Silicon Valley Bank, the nation’s 16th-largest bank, failed because its managers made a textbook mistake, according to former Treasury Secretary Larry Summers. Summers, a Harvard University prof...
US banking system outlook downgraded to ‘negative’ following recent bank failures
Credit rating agency Moody’s, has recently downgraded its outlook on the entire US banking system from “stable” to “negative.” The move comes in light of recent bank fail...
Here are the biggest losers in the U.S. banking crisis
There was a panic in the financial markets when Silicon Valley Bank collapsed under the pressure of large-scale withdrawals by depositors. The saga spilled over to crypto via Circle’s USDC, which had...
Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks – Bitcoin News
After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U...
SVB Collapse Meant Protecting ‘a Digital Dollar From the Banking System’: Circle CEO
In a recent interview, Circle’s CEO pointed out the irony of a traditional bank disrupting the wider crypto industry. “We are really trying to make sure that we’ve got the most solid infrastruct...
Gibraltar’s Xapo Bank Enables GBP and USDC Payments Amid U.S. Crypto Banking Crisis
“From today we have also added support for GBP through the Faster Payments network, meaning members will be able to make payments directly to U.K. wallets or banks,” said Seamus Rocca, CEO...
Crypto Market Rallies on FDIC Banking Intervention, USDC Regains Dollar Peg
The market cap of all cryptocurrencies is back above the $1 trillion mark. After a joint statement from the Federal Reserve, U.S. Treasury, and FDIC declared that all depositors of now-shuttered Silic...
Federal Reserve To Pause Interest Rate Hikes This Month, Forecasts Banking Giant Goldman Sachs: Report
US financial titan Goldman Sachs reportedly believes that the Federal Reserve will not raise interest rates this month following the high-profile collapses in the banking sector. Goldman Sachs’ chief ...
Silicon Valley Bank was the tip of a banking iceberg
Traditional financial institutions take deposits from customers and use them to make loans. But they loan out much more than what they have in store at a given point in time — a concept known as fract...
Banking Crisis in U.S. Likely to Push Crypto Firms Offshore
“Bank Frick is reviewing every new onboarding case individually. We apply and have always applied the same strict standards in the crypto area as in the classic banking business. If all necessar...
This Week on Crypto Twitter: Crypto Has a Banking Crisis
Illustration by Mitchell Preffer for Decrypt Prices took a dive this week as two banks closely connected to the crypto industry both sank. The first was Silvergate, an actual crypto bank, and the seco...
Binance Shuts Down Sterling Transactions Following Split with the UK Banking Partner
In recent months, cryptocurrency investors and enthusiasts have been rocked by a series of sudden collapses of banks that were once seen as friendly to the crypto industry. These banks, which had prev...
Inflation Fell To 6% In February—But Some Experts Fear Banking Crisis Could Make Prices Worse
Topline Annual inflation in February fell for an eighth-straight month—temporarily easing concerns about the future of the Federal Reserve’s economic tightening campaign—but some experts are increasin...
Ripple, Cardano execs double down on their criticism of U.S banking system
Ripple’s Brad Garlinghouse recently pointed out United States’ broken financial system in light of Silvergate, SVB episodes Cardano’s Charles Hoskinson also criticized the government’s position on cry...
Binance Loses UK Banking Partner for British Pound
Binance will discontinue deposits and withdrawals denominated in the British pound until it can find a new banking partner. The crypto exchange informed users of the development via email Monday...
Digital banking app downloads surged 54% in 2022 exceeding 26 million
In recent years, digital banks have rapidly emerged as disruptive players in the financial industry, leveraging technology to provide innovative, customer-centric banking services. The lenders’ growth...
Stock Futures Plunge as Market Craves Stability amid Banking Crisis
With the collapse of SVB, many commentators have been echoing the phrase that no firm is “too big to fail.” Uncertainty has continued to grip active players in the United States stock market with futu...