Chairman of FDIC Attributes American Signature Bank Collapse to Liquidity Crisis and Crypto-Related Risks
Investigation of the collapse of the American Signature Bank found that the cause was a liquidity crisis and poor management. However, the chairman of the Federal Deposit Insurance Company (FDIC) is sure: cryptocurrencies have done their part. Martin Gruenberg, speaking ...
FTX’s Customer Problems Could Extend Crypto Winter Until End of 2023, According to Coinbase Analysts
According to the Coinbase team, FTX's recent customer problems are just the beginning of a much larger issue in the world of cryptocurrency. They suggest that "second order effects" will extend the crypto winter until the end of 2023. This is due to the fact that a significant amount of funds fro ...
First Republic Bank faces liquidity crisis amid cryptocurrency services
First Republic Bank, like many other financial institutions in the US, has recently encountered a liquidity crisis and has sought help from both the banking community and the US Federal Reserve. In an effort to stay ahead of the curve and cater to the needs of its clients, the bank has collaborat ...
Silicon Valley Bank CEO and CFO face class-action lawsuit over alleged abuse of power
The CEO and CFO of Silicon Valley Bank, Greg Becker and Daniel Beck, respectively, are facing legal action from shareholders who allege abuse of power. The group of shareholders filed a class-action lawsuit against the bank and its top executives in a federal court in California. According to ...
Huobi Token (HT) Experiences 93% Crash in Exchange Rate Due to Market Behavior
In the early hours of March 9-10, the Huobi cryptocurrency exchange token - HT - experienced a sharp decline of 93% in its exchange rate. The CEO of the exchange, Justin Sun, attributed this to "market behavior." Within a span of just 10 minutes, the token's value plummeted from $4.6 to $0.31, be ...