Tag Archives: Banks

Societe Generale’s crypto arm – SG Forge – announced acquiring a regulatory license approval as Digital Asset Service Provider from the French Financial Markets Authority (AMF). With it, SG Forge has become the first company to receive a license from France’s financial regulator as a digital asset provider. The DASP license represents the highest level of regulatory certification currently possible for digital asset activities. It is important to note that over 80 entities...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Bitcoin, Ethereum, and many other mainstream forms of crypto are gaining a lot of traction and additional popularity as the banking crisis grows. Crypto Is Getting a Lot of Respect Not long ago, one of the banks to join the ongoing list of financial failures was First Republic. The organization’s assets were...

The largest banking institution in Russia by assets value – Sberbank – will reportedly enable private investors to buy and sell digital currencies in the following weeks. The entity jumped on the bandwagon a few years ago, attempting to launch several cryptocurrency projects. For one, it sought approval to issue its own digital currency and introduced the first blockchain-focused ETF in Russia.  Sberbank Pushes Forward As reported by a local media outlet, the bank will let...

Commonwealth Bank of Australia (CBA), the largest bank in Australia, announced a temporary decline in “certain” payments to cryptocurrency exchanges as part of newly introduced measures to battle scams in the country. According to an official release, the CBA will decline or hold crypto payments for 24 hours or more. As part of the scam risk measures, the bank will also place a A$10,000 ($6,650) limit on the payments made to exchanges in the coming months. CBA to Pause...

Following increased regulatory action from the SEC and other local and global watchdogs, members of the crypto community have been worrying about the industry’s future relationship with the banking sector. Pivot to Europe in The Cards The restlessness surrounding future crypto regulation was amplified following the collapse of both Signature Bank and Silvergate Bank, both of which supplied much of the infrastructure needed to keep the crypto world tethered to the banking...

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...

Republican Senator John Kennedy of Louisiana called banks “sophisticated Ponzi schemes” while discussing the US banking crisis that’s claimed multiple crypto-supportive financial institutions in the past two months.  The politician also spoke on the state of inflation, which he believes the Federal Reserve will need to bring to at least 8% to cool down.  Banks Are Ponzi Schemes? In an interview with CNBC that aired in full on Friday, Kennedy stressed that banks “exist on the...

A Democratic presidential candidate is pushing against the growing anti-crypto sentiment within his party by blaming regulatory agencies’ “war on crypto” for various bank failures that transpired in March.  In recent days, environmental lawyer Robert Kennedy Jr. has spoken out against the Biden administration’s general handling of the ongoing banking crisis, opposing the bailout approach used by financial agencies.  The War on Crypto In a tweet on Tuesday, Kennedy backed an...

Now that 2023 has arrived, bitcoin has found fresh ground following the ongoing banking crisis that has led to the closure of institutions like Silvergate, Silicon Valley Bank, and Signature. Bitcoin Could Do Even Better Many analysts and crypto industry heads believe this banking crisis is going to continue now that Deutsche Bank is at the helm of controversy, and with heavy regulatory issues in play, bitcoin – they believe – could be poised for a solid breakout in the...

Another wave of banking fear swept the markets on Tuesday as stocks for PacWest, Western Alliance, and other financial institutions slid over 20% on the day.  This comes shortly after California financial watchdogs took control of First Republic Bank on Monday, of which 84 branches will reopen under JP Morgan Chase. Another Bank Stock Selloff The California-based PacWest Bancorp (PACW) saw its shares tank from $8.90 at 9:30 am ET on Monday down to just $5.50 by 11:10 am. It...