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Tag: Banking
Silvergate & Silicon Valley Woes Further US Banking Bunkum
As if things weren’t bad enough for the crypto industry, an impending U.S. banking crisis could be the tip of the iceberg. Two major American banks failed in the same week. Earlier this week, crypto b...
Biden’s budget wants tax hikes, but expiring Trump tax cuts are the big showdown
For five years, most Americans have seen lower income-tax rates and tapped a bigger standard deduction, but without congressional action before the end of 2025, the rules could still revert to levels ...
Biden targets crypto, real estate and oil industries, as he unveils his budget
President Joe Biden on Thursday called for ending tax subsidies for cryptocurrency investors, the real estate industry and the oil and gas sector, as he formally rolled out his proposed budget for the...
Signature Bank Stock Plummets as Crypto Banking FUD Spreads: Details
The ongoing Fear, Uncertainty and Doubt (FUD) in the digital currency ecosystem of today is notably impacting Silvergate Bank, one of the two dominant crypto-focused financial institutions. At this ti...
Crypto.com’s Future in Jeopardy Amid Euro Banking Woes
Crypto.com struggles to provide Euro banking services to EEA users amid digital asset crises. Crypto.com also previously lost the ability to accept USD deposits. The firm allows consumers to purchase ...
GFT US Appoints Chief Revenue Officer as It Scales Regional Ambitions in Banking, Private Equity, Insurance and Manufacturing
New CRO Scott Hofmann Will Accelerate GFT’s Success, Transforming the Infrastructures of Some of the Country’s Largest Enterprises Into New Cloud-Based Opportunities NEW YORK–(BUSINESS WIRE)–Global di...
Xapo bank integrates Bitcoin Lightning Network amid turmoil in crypto banking sector
Ad Coinbase-owned Xapo bank announced its integration with the Bitcoin (BTC) Lightning Network on March 2, becoming the first fully-licensed bank integrated with the Lightning Network. This integratio...
Morgan Stanley, Charles Schwab, and the Recruiting Move That Went Off the Rails
Morgan Stanley lost a multimillion dollar arbitration case last week involving several parties and which centered on a recruiting move that went off the rails nearly four years ago. To understand how...
This fund has increased its dividend for 56 straight years. Now it’s snapping up GE.
Markets are nearing the end of a tough week, with one more hurdle to go after Fed Chairman Jerome Powell set investors straight on his willingness to go to the mat on inflation. Next up is Friday’s no...
SVB Financial stock plummets toward biggest one-day selloff in 23 years after stock offering, large losses on securities sales
Shares of SVB Financial Group SIVB, +0.16% plummeted 30.6% to pace all of the S&P 500’s SPX, +0.14% premarket losers on Thursday, which puts them on track for the worst one-day performance in 23 y...
Signature Bank stock drops sharply after Silvergate announces winddown
Signature Bank SBNY, -1.47% stock is down 11% in premarket trades as carnage from the announced wind-down of digital currency financial services company Silvergate Capital Corp. SI, -5.76% impacted th...
Credit Suisse Stock Is Falling. Annual Report Is Delayed After Call From SEC.
Credit Suisse shares were falling on Thursday after the Swiss lender said it is delaying the publication of its annual report. The stock was down 5.3% in Zurich trading. Credit Suisse (ticker: CS) Ame...
Credit Suisse to delay publication of 2022 annual report on SEC comments
Credit Suisse Group AG said Thursday that it will delay the publication of its 2022 report after a late call from U.S. market regulators over 2019 and 2020 cash-flow statements, adding a further heada...
Gemini’s banking relationship with JPMorgan ‘remains intact’
Crypto exchange Gemini took to Twitter on March 8 to deny rumors about terminating its banking relationship with United States financial conglomerate JPMorgan. In a brief and straightforward message, ...
Gemini denies reports of banking relationship ending with JPMorgan
Crypto exchange Gemini has denied reports that its banking relationship with U.S. banking giant JPMorgan has ended. In a March 8 tweet, Gemini said: “Despite reporting to the contrary, Gemini...
Crypto Exchange Gemini Loses JP Morgan As Banking Partner
According to a report from CoinDesk, crypto exchange Gemini lost a major partner, banking Giant JP Morgan. The report cites a person familiar with the matter, which failed to provide further details a...
Fed says interest rates poised to go ‘higher than previously anticipated.’ Here’s a simple way to profit from that
Fed Chair Jerome Powell testified before the Senate Banking, Housing and Urban Affairs Committee on Tuesday. mandel ngan/Agence France-Presse/Getty Images As part of the continued effort to reduce inf...
Powell’s comments slammed markets. Here’s what one bank sees for stocks, bonds.
The market really took Federal Reserve Chair Jerome Powell’s words at face value on Tuesday. Short-term yields rose, and the stock market slumped, with this comment: recent data suggest “the ultimate ...
68% of Americans couldn’t cover their living expenses for even a month if they lost their job, survey finds. The good news? Now is the best time in years to fix that.
The median amount of cash saved by Americans under the age of 35, not including retirement funds, was just $3,240 last year, according to government data. istock Recession — and layoff — fears loom la...
Kraken Continues Foray Into Banking Despite Regulatory Challenges
U.S-based cryptocurrency exchange Kraken, after settling with the SEC for $30 million dollars and ceasing its staking operations, is now back with news of creating its own banking institution. Known a...
Grayscale Bitcoin Fund Soars as Judges Sound Skeptical of SEC’s Arguments on ETF
Grayscale Investments for years has fruitlessly sought to convert its flagship product—the world’s largest Bitcoin fund at $14 billion—into an exchange-traded fund, most recently suing the Securities ...
FTX episode illustrates need for ‘Home’ regulator: Top U.S Banking official
FTX illustrates need for a “unified home country supervisor,” according to acting comptroller Michael Hsu Hsu shared “important lessons for crypto” in his address on preserving public trust in traditi...
10 banks that may face trouble in the wake of the SVB Financial Group debacle
As interest rates have risen, many banks have become more profitable because the spreads between what they earn on loans and investments and what they pay for funding has widened. But there are always...