The effect of FTX’s bankruptcy continues to weigh on the space, with crypto lender Genesis filing for bankruptcy on January 20, and a key bank for crypto players Silvergate closing its doors on March 8. SVB has likewise collapsed, with significant ripple effects seen in the collapse of the crypto-friendly bank Signature Bank, which was previously home to the crypto central payments processing platform Signet.
In addition, three banks have closed their doors: Silvergate Bank, Silicon Valley bank, and Signature Bank.
In that same period, Deutsche Bank notes that, although the crypto winter is far from over, Bitcoin "could be emerging as a 'north star'."
It has been a year full of major events for the crypto ecosystem.
From the beginning of 2023, the SEC has made efforts to crack down on the crypto market, charging several key players as well as proposing an extension to federal custody requirements to cryptoassets.
Bank Failures & Crypto Collapse - #Bitcoin Emerges As 'North Star'
Over the last 2 weeks, the global financial system has faced its biggest crisis since the Lehman dominoes started to fall.
First Republic has experienced a serious confidence crisis, characterized by deposit flight that continues despite an injection of $30 billion in deposits last Friday. First Republic has been downgraded twice by S&P; and its share price has dropped by nearly 87% in March so far.
Como o Deustch Bank ainda está de pé, eu não sei. Desde meados de 2019 (quiçá antes) há sinais de que uma catástrofe é iminente. A atual turbulência no setor pode ser o prelúdio do ato final do gigante alemão.
#Bitcoin fixes this
Reservas fracionárias = Fraude
#bitcoin fixes this
Most crypto assets 'have no fundamental value' says White House Economic report.
Correct.
Only #bitcoin does.
Dollar = shitcoin
De acordo com JP Morgan, o programa de empréstimo de emergência do FED irá injetar US$2,000,000,000,000.00 (tri) no sistema bancário americano.
#bitcoin fixes this
Bailout Arrives: Credit Suisse To Borrow $54BN From SNB To "Pre-emptively Strengthen Liquidity"
* Saudis fold - refuse to throw any more money at Credit Suisse
* Credit Suisse stock hits record low
* Credit Suisse 1Y CDS explodes as counterparty risk hedging soars
* Credit Suisse execs urged a "show of confidence" from the Swiss National Bank
* ECB quantifying exposures to Credit Suisse
* US Treasury monitoring situation, talking with other regulators
* Fed working with UST to quantify exposures
* One major govt is pressuring Swiss to intervene
* Systemic risk threat spreads globally
* Swiss authorities seeking to stabilize bank
* Swiss National Bank and Finma issue statement of support
* Credit Suisse said it’s planning to borrow from the Swiss National Bank up to CHF50 billion under a covered loan facility.
#NoKYC for #bitcoin
At this point the Fed must chose:
Save the dollar or save the financial system.
#bitcoin fixes this.
Quem conhece a TACE não fica surpreso com o que está acontecendo.
Artigo de dezembro de 2018
https://yurisam.medium.com/https-medium-com-yurisampaio-o-fed-ira-estourar-outra-bolha-29808fff942c
#bitcoin
The government's long been in bed
With those Wall Street exec's and the firms that they bled.
Capitalism's about profit and loss
You bail out the losers, there's no end to the cost.