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CATEGORY: us banking


Mar 26, 2023 06:50

Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’

Billionaire Bill Ackman has warned that the U.S. economy is “heading for a train wreck” if the government allows the current banking crisis to continue. “Trust and confidence are earned over many years, but can be wiped out in a few days,” he said. “Hopefully, our regulators will get this right.” Bill Ackman’s Warning Billionaire [...]

The post Billionaire Bill Ackman on US Banking Crisis: ‘I Fear We Are Heading for a Train Wreck’ appeared first on Crypto Breaking News.

Mar 24, 2023 05:50

‘Surgical removal’ of crypto will only weaken USD dominance, commentators say

The United States’ crackdown on cryptocurrencies and firms will only serve to stifle crypto-related innovation and “weaken” the country, said industry pundits in the wake of Coinbase’s recent Wells notice. On March 22, crypto exchange Coinbase became the latest crypto firm to receive a “legal threat” — in the form of a Wells notice, just [...]

The post ‘Surgical removal’ of crypto will only weaken USD dominance, commentators say appeared first on Crypto Breaking News.

Mar 25, 2023 05:50

Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector

Roughly ten days ago, the credit agency Moody’s Investors Service downgraded the U.S. banking sector from “stable” to “negative.” In a recent update on Thursday, the company stated that there is still a risk to the U.S. economy. The managing director of credit strategy at Moody’s explained that the country “will be unable to curtail [...]

The post Moody’s Warns of Potential Financial Disruption Spillover Beyond US Banking Sector appeared first on Crypto Breaking News.

Mar 13, 2023 05:50

US Fed announces $25B in funding to backstop banks

Hot on the heels of several United States bank collapses, the Federal Reserve Board has announced $25 billion worth of funding aimed at backstopping banks and other depository firms. The funds would ensure that eligible banks would have enough liquidity to cover the needs of their customers during times of turmoil. @federalreserve announces Bank Term [...]

The post US Fed announces $25B in funding to backstop banks appeared first on Crypto Breaking News.

Mar 12, 2023 10:30

Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking

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 [...]

The post Silicon Valley Bank Failure Highlights Dangers of Fractional-Reserve Banking appeared first on Crypto Breaking News.

Mar 10, 2023 10:30

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors can withdraw their funds on Monday after the FDIC took over the failed bank. Federally Insured Depositors to Withdraw Funds on Monday, Uncertainty Looms for [...]

The post US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual appeared first on Crypto Breaking News.

Apr 20, 2023 05:50

Crypto Industry Report: BTC Beats Nasdaq Index and Gold in Q1, Liquid Staking Governance Tokens up by 210%

According to the latest Coingecko crypto industry report, during the first quarter of 2023, bitcoin became the best-performing asset after it saw its U.S. dollar value go up from just under $17,000 observed on Dec. 31, 2022, to just over $28,000 by March 31, 2023. The report attributes the crypto asset’s resurgence to “increased volatility [...]

The post Crypto Industry Report: BTC Beats Nasdaq Index and Gold in Q1, Liquid Staking Governance Tokens up by 210% appeared first on Crypto Breaking News.

Mar 18, 2023 05:50

Indian Central Bank Chief: US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System

The governor of India’s central bank, the Reserve Bank of India (RBI), says the “ongoing U.S. banking crisis” clearly demonstrates the risks cryptocurrency poses to the financial system. The central bank chief added that the “Indian economy remains resilient,” emphasizing that the “worst of inflation is behind us.” India’s Central Bank Governor on Crypto Risks [...]

The post Indian Central Bank Chief: US Banking Crisis Clearly Shows Risks Crypto Poses to the Financial System appeared first on Crypto Breaking News.

Mar 17, 2023 10:30

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many market observers are wondering why specific assets like PMs and [...]

The post ‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change appeared first on Crypto Breaking News.

Jul 13, 2023 01:20

Western Sanctions on Russia Demolish Global Trade System, Cause Inflation Surge, Says Russian Banker

Russia’s second-largest bank’s chairman says by imposing sanctions on Russia, the West has “demolished the global trade system and caused an inflation surge.” Pointing to the U.S. banking crisis as an example, he stressed: “This is virtually the largest financial and banking crisis since 2008, and it is already spreading to Europe.” ’Sanctions Against Russia

The post Western Sanctions on Russia Demolish Global Trade System, Cause Inflation Surge, Says Russian Banker appeared first on BTC Ethereum Crypto Currency Blog.

May 13, 2023 05:50

IMF Warns of ‘Very Serious Repercussions’ if US Defaults on Debt Obligations

The International Monetary Fund (IMF) has warned of “very serious repercussions” to both the U.S. and the global economy if the U.S. defaults on its debt obligations, which could be as soon as June 1. “We are calling on all of the parties to come together, reach consensus, and resolve the matter as quickly as [...]

The post IMF Warns of ‘Very Serious Repercussions’ if US Defaults on Debt Obligations appeared first on Crypto Breaking News.

Jun 11, 2023 05:50

Economist Peter Schiff Says the Fed Destroyed US Banking System — ‘It’s Insolvent’

Economist Peter Schiff says the U.S. banking system is insolvent. He stressed that the Federal Reserve destroyed the U.S. banking system, citing near-zero interest rates at banks while “the Fed funds rate is 5.25% and the real inflation rate is much higher.” Schiff previously warned that the U.S. banking system is on the verge of [...]

The post Economist Peter Schiff Says the Fed Destroyed US Banking System — ‘It’s Insolvent’ appeared first on Crypto Breaking News.

May 09, 2023 05:50

Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’

Tesla and Twitter CEO Elon Musk has shared a “massive incentive” to move money out of bank accounts, citing a significant interest rate gap created by the U.S. Treasury and the Federal Reserve. “As more people & companies realize this, bank depositor flight will accelerate to extreme levels, even for banks that are ‘too big [...]

The post Elon Musk Shares ‘Massive Incentive to Move Money out of Bank Accounts’ appeared first on Crypto Breaking News.

Apr 06, 2023 02:10

South African Professor Accuses US Regulators of Attempting to ‘Assassinate Crypto’

The United States’ attempts to “assassinate crypto” are illegal and unlikely to succeed because “crypto is global,” Steven Boykey Sidley, a South African professor and author, has argued. According to Sidley, many formerly U.S.-based companies and innovators have fled the country and have set up bases in countries with more “comfortable” regulatory environments. The United [...]

The post South African Professor Accuses US Regulators of Attempting to ‘Assassinate Crypto’ appeared first on Crypto Breaking News.

Jul 05, 2023 02:10

Stablecoins Volume Down Despite Crypto Market Recovery, Ratings Agency Finds

Stablecoins, the digital assets designed to maintain a stable value, have long been viewed as a potential bridge between the cryptocurrency world and the traditional financial industry. However, recent developments have cast a shadow of uncertainty over their perceived stability.  As global policymakers continue to grapple with concerns about the crypto sector’s impact on the [...]

The post Stablecoins Volume Down Despite Crypto Market Recovery, Ratings Agency Finds appeared first on Crypto Breaking News.

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