Tag: BNY Mellon

First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower

After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk…

US Bank Outflows and Concerns Mount: 11 Banks Bail Out First Republic Bank From Collapse

After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution…

USDC Stablecoin Nears Parity With USD After Fed’s Bailout Announcement

The stablecoin USDC has nearly regained parity with the U.S. dollar after rising just above $0.99 on March 12, 2023, at 7:20 p.m. Eastern Time. The stablecoin jumped back to…

Citizens Trust Bank to Hold $65 Million in USDC Reserves as Circle Expands Bank Partnerships

On Friday, the cryptocurrency firm and stablecoin issuer Circle announced that the financial institution Citizens Trust Bank will hold $65 million in usd coin cash reserves. Circle said the move…

Bank of New York Mellon: ‘Clients Are Absolutely Interested in Digital Assets’

Bank of New York Mellon (BNY Mellon) has revealed that its clients “are absolutely interested in digital assets.” Emphasizing the need for clear crypto regulation, the bank’s head of digital…

Ebay Expands Into NFT and Web3 Space With New Job Openings

The online marketplace giant, Ebay, is seeking to fill several positions in the area of Web3 and non-fungible token (NFT) technology, according to several Linkedin job postings. Ebay is looking…

New York Fed and 9 Major Banks to Test ‘Interoperable Network of Central Bank Wholesale Digital Money’

Nine major financial institutions and the Federal Reserve Bank of New York have started to experiment with a digital dollar proof of concept to see if distributed ledger technology can…