Tag Archives: Banks

Austrian cooperative banking company – Raiffeisenlandesbank Niederösterreich-Wien (RLB NÖ-Wien) – has partnered with Bitpanda to roll out crypto investment services through the latter’s software as a service (SaaS) offering. With this collaboration, RLB NÖ-Wien has become the first major traditional bank in the European Union to move into digital assets. The Partnership Alongside crypto investment, the Austrian company will also focus on the potential implementation of stocks...

In a note published on April 24, Standard Chartered analysts predicted that Bitcoin prices will climb to $100,000 by the end of 2024. Analyst Geoff Kendrick noted that the collapse of several U.S. banks, including Silicon Valley Bank, Silvergate, and Signature, has solidified the case for Bitcoin as a “decentralized, trustless, and scarce digital asset.” The bank analyst was confident that the bear market is over and prices will continue higher next year in the next bull...

Silicon Valley Bank is in the process of filing bankruptcy, bringing back rough memories of the FTX debacle five months ago. However, the effects appear to be the opposite of what they were back in November. During that time, bitcoin and its altcoin cousins fell to new lows, whereas this time around, bitcoin and several of its counterparts appear to be surging like crazy. Silicon Valley Dips While BTC Rises At the time of writing, BTC – the world’s number one...

Pierre Wunsch – Governor of the National Bank of Belgium – thinks the European Central Bank (ECB) should keep raising the interest rates to combat the bothersome inflation. The institution lifted the rates to 3.5% in March (the highest since the financial crash in 2008). The Federal Reserve also has a similar strategy in the States, with interest rates currently standing at a range of 4.75% to 5%.  While raising the benchmark aims at limiting the money supply and thus...

BlackRock – the world’s largest asset manager – is collaborating with the U.S. government to sell off eleven figures worth of securities tied up with American banks that failed last month.  The sale $114 billion sale will include $27 billion worth of securities from Signature Bank, and $87 billion from Silicon Valley Bank (SVB).  Securities Dump Incoming? The Federal Deposit Insurance Corporation (FDIC) announced the sale on Wednesday, over three weeks after placing both...

Adrienne A. Harris – Superintendent of the New York State Department of Financial Services (NYDFS) – said the premise that the bank’s ties to crypto-related businesses were behind its closure is “ludicrous.”  The financial institution revealed severe operational difficulties last month and was shut down by American regulators to prevent further issues. Crypto Was not the Reason The head of the NYDFS assured in a recent interview that the relevant watchdogs closed Signature...

BTG Pactual – one of Latin America’s largest investment banks – will reportedly launch its own stablecoin, whose value will be tied to the American dollar.  The corporation joined the industry years ago by issuing a security token called ReitBZ and introducing a cryptocurrency exchange in Brazil. The Latest Push According to Reuters, Banco BTG Pactual S.A. (better known as BTG Pactual) will strengthen its presence in the digital asset sector by designing a stablecoin called...

The insiders of the now-defunct Signature Bank have reportedly sold over $100 million of shares in the years after the bank shifted its focus to attract cryptocurrency companies. According to an analysis conducted by the Wall Street Journal, Signature Bank’s chairman, its former chief executive officer, as well as his successor collectively sold around $50 million of shares over the past three years. The trio, whose sales accounted for around half of the amount sold, served...

The United States banking sector is hesitant to do business with crypto firms following the closures of the nation’s most crypto-supportive financial institutions earlier this month.  A collection of industry participants, bank executives, and investors are reporting various instances of banks making crypto partnerships more difficult, from forming lengthy application procedures for such companies to outright abandoning the industry.  Crypto’s Banking Problem As reported by...

The President of the United States – Joe Biden – thinks the turbulence that recently shook the banking sector is not entirely gone. As such, his cabinet is ready to impose further legislative changes to cope with any potential issues in the future. Two of America’s leading banks – Silicon Valley Bank (SVB) and Signature Bank – experienced severe operational issues and were shut down by regulators earlier this month. Major institutions outside the States, including Credit...