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Economist Peter Schiff has cautioned that the present banking crisis is the cusp of a much worse financial crisis. “It’s going to get much much worse if you are going to try to dismiss it,” he stressed. Citing the Federal Reserve’s recession forecast, he warned: “Normally the Fed doesn’t forecast
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Executives at the stablecoin issuer Circle and the bankrupt cryptocurrency lender BlockFi have been questioned by two members of Congress investigating the so-called “mutual backscratching arrangements” alleged to have taken place with the now-failed Silicon Valley Bank (SVB).On April 9, letters from Senator Elizabeth Warren and Representative Alexandria Ocasio-Cortez (AOC)
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First-Quarter Performance Recap: CryptoX Market Index Up 58%, BTC Gains Amid Banking Crisis Source
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JPMorgan Chase CEO Jamie Dimon says the U.S. banking crisis is not over and “there will be repercussions from it for years to come.” The executive added that recent bank failures “have significantly changed the market’s expectations,” and the odds of a recession have increased. JPMorgan CEO Jamie Dimon on U.S.
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Following the collapse of Silvergate Bank, Silicon Valley Bank, and Signature Bank, cryptocurrency companies have been seeking new banking partners in the United States. According to a recent report citing “sources familiar with the matter,” Binance US, the American subsidiary of the cryptocurrency exchange, is having difficulty finding a U.S.
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Twitter CEO Elon Musk has made another marketing move to bridge the social media platform with the crypto community by switching its logo icon to the Shiba Inu dog — Dogecoin’s (DOGE) digital symbol. The move, however, seems to be more than just an engagement strategy. It comes just two
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Postfinance, one of Switzerland’s largest retail banks, will offer customers access to major cryptocurrencies and related services. The state-owned financial institution will be using the banking platform developed by the Swiss-licensed digital asset bank Sygnum. Postfinance Partners With Sygnum to Provide Digital Asset Products and Services The financial services unit of
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Tether, the firm behind the largest stablecoin by market capitalization, reportedly allowed its clients to send funds through Signature Bank’s payments platform — granting the firm access to United States banks.According to an April 4 Bloomberg report, Tether had a pathway to the U.S. banking system by instructing its users
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The latest banking crisis could lead to “the first-ever extended duration bull market” for Bitcoin (BTC), according to Swan Bitcoin CEO Cory Klippsten.In an interview with Cointelegraph, Klippsten pointed out that far more people today know about Bitcoin as a tool to opt out of the traditional financial system than
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“Part of the reason is that the stress in the banking system reinforced bitcoin’s store-of-value properties,” the report said, and because BTC mainly exists outside of the traditional financial system “it offers a hedge against current conditions.” Source
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