Bitcoin price hits $27K in new 9-month high as Fed injects $300B
Bitcoin bulls attempt to break higher as Fed liquidity upends quantitative tightening in place since 2021. Go to Source Powered by WPeMatico
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US Bank Outflows and Concerns Mount: 11 Banks Bail Out First Republic Bank From Collapse
After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen lenders announced they will deposit $30 billion into the beleaguered bank’s coffers to shore up liquidity. U.S. … Read more
Blockchain Association seeks info from Fed, FDIC, and OCC on ‘de-banking’ crypto firms
The association submitted Freedom of Information Act requests as part of an investigation into how regulators’ actions “improperly contributed” to the collapse of three banks. Go to Source Powered by WPeMatico
On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank
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. dollar, eroding trust amid fears about the global banking system. On Wednesday at around 9 p.m. (ET), Credit … Read more
Crypto acted as safe haven amid SVB and Signature bank run: Cathie Wood
Cathie Wood said the ongoing baking crisis is a total Fed policy failure and could have been averted with crypto’s decentralized solutions. Go to Source Powered by WPeMatico
Federal Reserve confirms July launch for FedNow instant payment service
The Fed Now service aims to reduce the gap in payment time between US financial institutions. Go to Source Powered by WPeMatico
Senator Warren says Fed chair ‘has to recuse himself’ from reviewing regulatory failures
Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve’s supervision and regulatory activities following Silicon Valley Bank’s closure. Go to Source Powered by WPeMatico
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
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 leave the bank in jeopardy. Additionally, anonymous sources say the U.S. Department of Justice (DOJ) and … Read more
US Inflation Data Eases Concerns; Crypto Economy Jumps 11% Higher While Market Analysts Anticipate Fed’s Next Decision
The U.S. Labor Department released the consumer price index (CPI) report on Tuesday. Although inflation increased in February year-over-year, the rise was expected, and the annual inflation rate for all items was 6%. The cooling inflation has eased some concerns, but fears of financial contagion have spread. Market strategists are further anticipating the U.S. central … Read more
Tassat blockchain to join FedNow service with B2B onramp as pilot prepares for launch
The New York-based fintech said it will provide an API to allow clients to access the new Federal Reserve real-time payment service when it premiers. Go to Source Powered by WPeMatico