U.S banks – DIGIT INFO

US Banking Industry Still Struggling as First Republic Bank Shares Plummet by Over 30%

DIGIT — Wed, 26 Apr 2023 19:05:01 +0000

In the midst of a tumultuous week, First Republic Bank is struggling to regain its footing in the financial world. Reports have surfaced that the bank is poised to enter government receivership due to a massive outflow of $100 billion in customer withdrawals last month. This has prompted investors to flee the bank, causing its […]

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‘Dr. Doom’ Nouriel Roubini Warns of Looming Banking Crisis and Trilemma for Central Banks

DIGIT — Mon, 03 Apr 2023 03:30:07 +0000

Economist Nouriel Roubini has shared his opinion about bank problems in the United States in a recently published opinion editorial. In the article, Roubini insists that “most U.S. banks are technically near insolvency, and hundreds are already fully insolvent.” Roubini: ‘Liquidity Support Cannot Prevent This Systemic Doom Loop’ The renowned economist Nouriel Roubini, also known […]

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

DIGIT — Thu, 16 Mar 2023 16:00:20 +0000

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 […]

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Bitcoin Becomes 12th Largest Asset Worldwide by Valuation, Surpassing Visa

DIGIT — Wed, 15 Mar 2023 19:30:11 +0000

After dropping below $26,000 per unit, the price of bitcoin, the leading digital asset by market capitalization, is still up 9.6% since last week. However, its price has decreased by 6.5% in the last 24 hours. Out of the 7,316 companies, crypto assets, precious metals, and exchange-traded funds worth more than $82 trillion in value, […]

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Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks

DIGIT — Wed, 15 Mar 2023 00:34:56 +0000

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.S. banking system from “stable” to “negative.” As one of the “Big Three” credit rating firms, Moody’s cited a “rapid deterioration […]

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Bybit Halts US Dollar Deposits via Bank Transfer Due to Service ‘Outages’ From Partner

DIGIT — Sat, 04 Mar 2023 20:45:03 +0000

On March 4, 2023, cryptocurrency exchange Bybit announced that it had suspended U.S. dollar deposits via bank transfer. Bybit cited “outages” from its partner as the reason for the suspension of USD deposits via bank transfers and the SWIFT network. Bybit Suspends USD Deposits, Wire Transfer Withdrawals Open Until March 10 The cryptocurrency exchange Bybit, […]

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Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power

DIGIT — Thu, 09 Feb 2023 20:30:36 +0000

According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will […]

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Airtm Winds Down Cryptocurrency Trading, Exchanges All Funds to Native Stablecoin

DIGIT — Mon, 09 Jan 2023 09:30:16 +0000

Airtm, a Latam popular cryptocurrency exchange and wallet, has announced it is winding down cryptocurrency trading and custody in its platform. The company stated that starting Jan. 4, 2023, all cryptocurrency deposits and withdrawals would be paused due to the changes in the service offer of one of its providers. Airtm Removes Cryptocurrency Trading Options […]

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