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Is PacWest Next to Fall? Bank Stock Falls 22% Following Decline in Deposits

California lender PacWest Bancorp (PACW) fell over 20% on Thursday after the company revealed it had lost a significant portion of its deposits.  This follows a string of US regional bank failures this year that were preceded by similar red flags.  Depositors Flee From PacWest Per its quarterly report filed with the Securities and Exchange Commission, PacWest said its deposits declined by 9.5% last week – mostly occurring on May 4 and 5. This, according to the bank, was in...

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Institutions Intend to Buy Bitcoin in Late 2023: Interview With CryptoQuant

Bitcoin is up (YTD), banks are collapsing, and the Federal Reserve seems to be approaching the end of its monetary tightening mission. Does that mean the bull market is back in action? CryptoPotato spoke with crypto market analytics firm CryptoQuant at Consensus 2023 to discuss all things related to Bitcoin’s price – including its place in the market cycle, its correlation to gold, and its role during the ongoing US banking crisis. Bullish Times Ahead for Bitcoin When asked...

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PacWest (PACW) Shares Plunge 23% after Revealing 9.5% Decline in Deposits

There are various choices accessible to PacWest Bancorp that could assist the business overcome the present shares devaluation. PacWest Bancorp (NASDAQ: PACW), a regional bank based in California, is seeing its shares plummet by 23%, days after reporting a 9.5% drop in deposits for the week ending May 4, 2023. Notably, the decline in deposits was attributed to media reports that the regional bank was considering several strategic options in the wake of the current banking chaos in the US....

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Driven by Community not VCs, PEPE Fans’ Comeback on Coinbase’s ‘Ill-Conceived’ Take

Pepecoin (PEPE) made quite a significant upheaval in the sluggish crypto market. From less than $1 million at the launch, its market cap swelled close to $2 billion in just weeks. The frog-themed memecoin in the crypto universe dominated by dog-themed coins is bound to trigger funny memes. And one such meme attempt by Coinbase doesn’t seem to have landed well, and the crypto exchange is at the receiving end of a “well-deserved” backlash from PEPE fans and holders. PEPE as a...

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Marathon Digital Subpoenaed by SEC Over Securities Law Violations

Marathon said it is cooperating with the SEC to provide the requested information, highlighting that it was dedicated to abiding by all relevant laws and rules. Bitcoin mining firm Marathon Digital Holdings Inc (NASDAQ: MARA) has gotten a subpoena from the United States Securities and Exchange Commission (SEC) in connection with suspected violations of Federal securities laws. According to reports from Bloomberg, the subpoena requests the production of certain documents related to the...

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New York Floats Bill to Allow Stablecoin Payments for Bail Bonds

The stringent measures that appear to have been established against crypto in New York, the acceptance of stablecoins for bail bonds is a win. The city of New York is currently planning to add stablecoin payments as a form of bail. According to a May 10 bill, the city is proposing legislation that will allow defendants to use fiat-backed stablecoins for bail bonds. Noting that current methods allow the use of cash, credit cards, and insurance, the new bill seeks an amendment that will make...

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Palantir Technologies Sells Off 100-Ounce Gold Bars Acquired in August 2021

Palantir also revealed that it closed the quarter with $1.62 billion in US Treasury securities. Software company Palantir Technologies (NYSE: PLTR) has sold all the gold bars it acquired in August 2021. The company invested $50.9 million to buy 100-ounce precious metal, which it said will be initially kept in a secure third-party facility in the northeastern United States. At a time when many companies put their money in Bitcoin and other digital assets, Palantir said the gold bars...

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Milady NFT Floor Price and Milady Meme Coin Surges after Tweet by Elon Musk

With a market capitalization of approximately $126 million, the Milady Meme Coin saw its trading volume rally above $199 million. Tech billionaire and Tesla Inc (NASDAQ: TSLA) CEO Elon Musk, has once again proved his influence in the meme coin industry through a tweet of Milady NFT. As a result, the price value of Milady-related tokens skyrocketed in the past 24 hours with increased demand demonstrated by a sharp uptick in traded volume. For instance, the floor price of Milady NFTs jumped...

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TABOO Gains Bullish Momentum With $10M Funding at $250M Valuation

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up TABOO recently secured $10 million in funding at a valuation of $250 million. TABOO token is now available for trading on major exchanges, including Binance and Coinbase. Recently, the TABOO token has been gaining attention from investors and traders as it has been making bold moves in the cryptocurrency...

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EOS Price Analysis: More Losses Seem Likely Below $0.92

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up EOS price started a fresh decline below the $1.00 level against the US Dollar. The price is now trading below $1.00 and the 55 simple moving average (4 hours). There is a key bearish trend line forming with resistance near $0.920 on the 4-hour chart of the EOS/USD pair (data feed from Coinbase). The pair could...

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