Category: financial institution

US Government in Talks to Rescue Struggling First Republic Bank, Sources Say

Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation…

C6 Bank’s Climate Tool to Track CO2 Emissions From Customer Transactions Prompts Debate on Future of Banking

On April 13, a C6 Bank customer in Brazil shared screenshots of his online bank account, revealing that the financial institution was tracking CO2 emissions from his purchases and urging…

French Authorities Raid 5 Major Banks Over Accusations of Money Laundering and Fiscal Fraud

On Tuesday, French officials conducted raids on five major banks located in and around Paris, including Societe Generale, BNP Paribas, HSBC, Natixis, and BNP’s Exane Bank, over alleged charges of…

On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank

Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse…

Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders

The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB…

US Regulators Close Silicon Valley Bank in One of the Largest Bank Failures Since Washington Mutual

After Silicon Valley Bank (SVB) experienced financial turmoil, the U.S. Federal Deposit Insurance Corporation (FDIC) and the California Department of Financial Protection and Innovation closed the financial institution. Insured depositors…

Elizabeth Warren Blames ‘Crypto Risk’ for Silvergate Bank’s Liquidation, Critics Dismiss Senator’s Claims as ‘Terribly Misinformed’

After Silvergate Bank announced its voluntary liquidation, U.S. senator Elizabeth Warren is attributing the financial institution’s downfall to “crypto risk.” According to Warren, she had previously warned about Silvergate. However,…

Bitcoin Proponents Slam Nobel Laureate Paul Krugman After Venmo Payment Issue

Nobel Prize winner Paul Krugman complained on Twitter Wednesday that he was experiencing issues with the centralized payment processor Venmo. His tweet was followed by a barrage of bitcoin supporters…

Coinbase Severs Ties With Silvergate Bank Amidst JPMorgan Downgrade and Delayed SEC Filing

On March 2, 2023, the cryptocurrency exchange Coinbase announced that, in light of recent developments, the company is “no longer accepting or initiating payments to or from Silvergate Bank.” The…

Silvergate Bank Becomes Most Shorted Stock in US, but Sees Boost With Citadel Securities Stake

Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s…