Banking
Silvergate’s SEN Transfers Down 41% to $112B In Q3 2022
Silvergate, the world’s leading crypto bank, recently released its Q3 statement showing good but worse-than-expected earnings.
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Banking
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Banking
Banking
Credit Suisse Estimates $1.6B Loss After $88.3B Withdrawn in Bank Run
Credit Suisse is expecting a $1.6 billion loss in Q4 as investors continue to pull out investments and deposits from the bank at a rapid pace.
Banking
Why Credit Suisse’s Valuation is Down $16B Since January
Executives have reassured employees of Credit Suisse's "strong capital base and liquidity position".
Banking
Three Countries Team Up With BIS to Test Cross-Border CBDCs Payments
The BIS is exploring ways to improve international payments using CBDCs in collaboration with Norway, Sweden, and Israel.
Market Analysis
Buffett-Backed Nubank Attracts More Than 1.8M Users to its Crypto Platform
Nubank announced on Monday that its crypto exchange, launched just a few months ago, is one of its fastest-growing services.
Banking
Banks Unlikely to Finance Cryptos Which JP’s Dimon Likens to “Ponzi Schemes”
CEOs of various Wall Street banks spent Wednesday testifying before Congress and discussing crypto along with other topics.
Policy
Miami Trio Charged For Defrauding Banks and a Crypto Exchange Of $4M+
Florida-based trio was arrested and indicted in a $4 million case involving identity theft and fraudulent transaction disputes.
Policy
Prosecutors Say Archegos Lied to its Backers Prior to Collapse
Archegos lied to its backers about its financial situation right before it lost $15 billion in a miscalculated bet.
Banking
Peter Schiff Agrees to Return $66.7M After Bank Goes Under
American economist and stockbroker Peter Schiff reached a settlement with regulators to return $66.7 million in deposits and pay $300,000 in penalties.
Banking
China’s Bank Run: Why 4 Rural Banks Froze Up to $1.5B of Client Funds
Chinese depositors protesting over the freezing of deposits for over 3 months were violently dispersed by authorities on Sunday.
Crypto
J.P. Morgan’s Onyx Has Tokenized $300B of US T-Bonds So Far
Through Onyx tokenization, JP Morgan is forging digital finance for the repo market.
Banking
Russia Very Likely to Default on Foreign Debt: $6B Worth of CDS Contracts Can be Triggered
Sanctions imposed by the west make it highly unlikely that Russia will be able to honor its debts.
Crypto
Europe Debates CBDC’s Privacy Threat as Digital Yuan Expands to 23 Cities in China
The Digital Euro offers a lot of benefits to Central Banks but could come at the cost of increased surveillance.