Bitcoin and other cryptocurrencies were gaining on Friday after a volatile but dynamic week. However, Saturday and Sunday promise to be a challenge for crypto traders, with a lack of liquidity in the markets likely to exacerbate price swings. The price of Bitcoin has risen 1.5% in the past 24 hours to $28,100, bringing it … Read more
Last updated: March 24, 2023 at 5:39 a.m. ET First published: March 24, 2023 at 5:10 a.m. ET Shares of Deutsche Bank tumbled on Friday, putting the health of another global systemically important bank in the spotlight ahead of the weekend. Shares of German lender XE:DBK fell 8% in Frankfurt trade and the Euro Stoxx … Read more
The Federal Deposit Insurance Corp. plans to announce its decision on the sale of Silicon Valley Bank this weekend, Barron’s Advisor has learned. A person familiar with the FDIC’s plans says the banking regulator hopes to introduce a resolution to the auction over the weekend. There are still many moving coins at the auction, which … Read more
Regional banks shouldn’t be the only cause for concern over the potential fallout from the rapid pace of Federal Reserve interest rate hikes over the past year, a former top banking regulator said. “I don’t see regional banks as having a particular problem,” said Sheila Bair, who ran the Federal Deposit Insurance Corp. from 2006 … Read more
Good morning! Welcome to Distributed Ledger. Meet Frances Yue, crypto reporter at MarketWatch. Coinbase crypto exchange PIECE OF MONEY said Wednesday that he received a Wells notice from the Securities and Exchange Commission, which could lead to formal charges. The SEC’s Wells notice related to an unspecified portion of the exchange’s listed digital assets, its … Read more
Fed Chairman Jerome Powell at yesterday’s press conference. Photo: Alex Wong/Getty Images On Wednesday afternoon, the Federal Reserve did more than raise interest rates for the ninth consecutive time in the face of a banking crisis. He also claimed that his plans for the year remain more or less intact and that nearly all of … Read more
First Republic Bank worked overtime on Sunday to reassure customers it was safe to operate after the collapse of Silicon Valley Bank last week sparked fears of contagion in the banking sector. But its stock plunged nearly 50% ahead of Monday’s open despite attempts to reassure customers of the strength of its business. Early Sunday … Read more
hong kong CNN — The collapse of Silicon Valley Bank (SVB), which courted Chinese start-ups, has sparked widespread concern in China, where a series of founders and companies have rushed to appease investors claiming their exposure is insignificant or non-existent. SVB, which worked with nearly half of all venture capital-backed tech and healthcare companies in … Read more
Washington CNN — President Joe Biden said Sunday that, under his leadership, US Treasury Secretary Janet Yellen and her top economic adviser Lael Brainard worked with financial regulators to ensure that households and businesses affected by the Silicon Valley Bank failures and Signature Bank can access their deposits, and he promised to hold officials accountable. … Read more
First Republic Bank was under pressure following the collapse of Silicon Valley Bank. Photo: Devin Blaskovich for The Wall Street Journal Updated March 12, 2023 9:00 PM ET Bank of the First Republic FRC -14.84% said it strengthened its finances with additional funding from the Federal Reserve and JPMorgan Chase JPM 2.54% & What. The … Read more