FDIC insurance – DIGIT INFO

Robert Kiyosaki Pushes Bitcoin as US Debt Soars to Alarming Levels — Warns of Banking System Failures

DIGIT — Sat, 24 Aug 2024 23:46:10 +0000

Robert Kiyosaki, the author of Rich Dad Poor Dad, has warned that the U.S. is adding a trillion dollars to its debt every 100 days. He advises investing in gold, silver, and bitcoin to safeguard against economic instability. Kiyosaki also points out the dangers of relying on traditional banks, noting that banking panics are often […]

Go to Source

Binance Aids Taiwan in Busting $6M Crypto Money Laundering Ring

DIGIT — Sat, 18 May 2024 02:41:42 +0000

Binance’s Financial Crimes Compliance Department recently collaborated with Taiwan’s Ministry of Justice Investigation Bureau and the Taipei District Prosecutors Office on a significant cryptocurrency-assisted money laundering case involving nearly NT$200 million (approximately US$6 million). The criminal operation had been laundering money through virtual assets by creating fake customer records and forged identity data. Law enforcement […]

Go to Source

Juno Addresses Banking Service Disruption — ‘This Is Outside Our Control’

DIGIT — Fri, 17 May 2024 00:35:37 +0000

Juno Finance acknowledges the disruption in banking services and is collaborating with its brokerage and banking service providers, Synapse and Evolve Bank & Trust, to restore full service as soon as possible. Juno is a financial platform that integrates checking and savings accounts with cryptocurrency trading. “Currently, Evolve Bank & Trust has frozen all card […]

Go to Source

Fed Bank President: Banking Crisis Tips US Economy Toward Recession

DIGIT — Wed, 29 Mar 2023 01:30:19 +0000

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 Fed official stressed. Neel Kashkari on U.S. Economy, Banking Crisis, Recession Federal Reserve Bank of Minneapolis President Neel Kashkari […]

Go to Source

US exploring ways to guarantee the country’s 18T of bank deposits: Report

DIGIT — Tue, 21 Mar 2023 05:57:20 +0000

The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount.

Go to Source

Midsize US Banks Ask Regulators to Extend FDIC Insurance to All Deposits for 2 Years Before Another Bank Fails

DIGIT — Mon, 20 Mar 2023 03:30:40 +0000

The Mid-Size Bank Coalition of America has asked federal regulators to extend FDIC insurance to cover all deposits for the next two years. “Doing so will immediately halt the exodus of deposits from smaller banks, stabilize the banking sector and greatly reduce chances of more bank failures,” the group claimed. “It is imperative we restore […]

Go to Source

US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks

DIGIT — Mon, 20 Mar 2023 02:34:59 +0000

A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks. “This is a contagion that could be spread across the entire banking system,” […]

Go to Source

Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking

DIGIT — Sun, 12 Mar 2023 20:30:09 +0000

After the failure of Silicon Valley Bank (SVB), a great deal of Americans are starting to realize the dangers of fractional-reserve banking. Reports show that SVB suffered a significant bank run after customers attempted to withdraw $42 billion from the bank on Thursday. The following is a look at what fractional-reserve banking is and why […]

Go to Source

US Regulator Probes Bankrupt Crypto Lender Voyager Over Claims of FDIC Insurance

DIGIT — Sat, 09 Jul 2022 04:00:17 +0000

The Federal Deposit Insurance Corporation (FDIC) is probing crypto lender Voyager Digital over claims that it is FDIC-insured. The crypto firm previously explained that through its strategic relationships with Metropolitan Commercial Bank, “all customers’ USD held with Voyager is FDIC insured.” Voyager Probed by FDIC The Federal Deposit Insurance Corporation (FDIC) is looking into Voyager […]

Go to Source