Cryptocurrency Analysis and News Portal
UBS Group AG, a crypto friendly bank, is reportedly offering to purchase Credit Suisse, a global investment bank, for up to $1b, per details on Mar. 19 . UBS to the rescue The UBS offer comes after BlackRock rejected claims to a deal to salvage Credit Suisse on March 19. UBS is offering
Read More
Flutterwave, the Nigerian fintech giant, recently said it had obtained two licenses from the National Bank of Rwanda, which allow it to offer its services to more than 13 million people living and working in Rwanda. According to Flutterwave’s representative in the country, the two licenses make it possible for
Read More
Speculation and debate continue to rage surrounding the current global banking debacle. Hedge fund manager Michael Burry — known for predicting 2008’s economic crisis — is drawing comparisons to the Panic of 1907, while Rich Dad Poor Dad author Robert Kiyosaki warned this week of more ‘fake money’ being injected
Read More
The CEO of Blackrock, the world’s largest asset manager, has warned about additional bank seizures and shutdowns that could result from regulatory changes in response to the failures of several major banks in the U.S. “It does seem inevitable that some banks will now need to pull back on lending
Read More
Ak Investment, one of Akbank’s wholly owned subsidiaries, has officially applied to partner with Stablex, a crypto exchange. Akbank’s interest in crypto Ak Investment owns 100% of the company shares. Their recent partnership with Binance cemented its exploration and interests in crypto as the duo embarks on direct Turkish Lira transfers. According to DUNYA, a
Read More
Institutional cryptocurrency custodian Protego’s conditional national trust banking charter has expired without it receiving permanent approval, according to a March 17 report in Fortune.A spokesperson for the United States Office of the Comptroller of the Currency (OCC) told Fortune that the firm did not meet pre-conversion requirements. According to the
Read More
Representatives from the Federal Deposit Insurance Corporation and Federal Reserve will be testifying before the United States House Financial Services Commission in a newly announced hearing investigating the collapse of two major banks.In a March 17 notice, Representatives Maxine Waters and Patrick McHenry — ranking member and chair of the
Read More
Nonetheless, the timing by regulators is significant, Vullo said. By quickly dealing with SVB and Signature, bank regulators were able to “send a very strong message to the public that the system is OK and that we're going to take care of depositors,” she said. Original Source
Read More
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
Read More
Signature Bank in particular served the likes of Paxos Trust and Celsius and other major crypto firms that suffered as a result of the decisions taken by the Federal Deposit Insurance Corporation and New York State Department of Financial Services.Meanwhile Silicon Valley Bank (SVB) reportedly handled over $5 billion of
Read More