Switzerland’s troubled Credit Suisse and its rescuer, USB, are subject to an investigation into whether bankers helped Russian oligarchs evade Western sanctions, according to a media report. Some major U.S. banking institutions are also under scrutiny within the probe initiated by the Justice Department, sources say. Credit Suisse, US Banks Investigated for Suspected Sanctions Violations…
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The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank’s application for membership. The United States Federal Reserve released an 86-page report on March 24 detailing the reasons for denying Custodia Bank’s application for membership in January, including the bank’s involvement in the crypto space. According…
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An indicator of European bank default risk soars and stocks tumble on March 24 amid renewed fears surrounding the financial system. European banks are going into the weekend with renewed fears surrounding their future, as shares of Deutsche Bank plunged over 7% on the New York Stock Exchange on March 24 after a down day on…
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The banking crisis is a catalyst for the next crypto bull run, in which Bitcoin will likely outperform all crypto assets, says Bloomberg analyst Mike McGlone. The banking crisis could be the spark that will kick off the next crypto bull run, in which Bitcoin (BTC) is likely to outperform all other cryptocurrencies — according…
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Deutsche Bank shares plunged on Friday, along with the stocks of other European banks, amid investor concerns over the stability of the global banking sector. The drop comes in the aftermath of the recent emergency rescue of Credit Suisse and follows losses in U.S. banks on Thursday. Deutsche Bank Credit Default Swaps Jump to 4-Year…
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Despite global bank turmoil and regulatory crackdowns, traditional and decentralized finance (DeFi) are continuing to blend. Take, for example, the recent issues that Circle-issued USD Coin (USDC) faced when it depegged from the U.S. dollar following Silicon Valley Bank’s collapse. Two weeks later, Mastercard boldly integrated the stablecoin into its infrastructure in the Asia-Pacific region,…
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Since the collapse of three American banks friendly to cryptocurrency businesses and the U.S. government’s insistence that crypto assets are “risky investments,” many speculators believe bureaucrats are purposely closing access to cryptocurrencies. Some refer to the U.S. government’s recent enforcement as “Operation Chokepoint,” a mission aimed at eliminating access to the crypto ecosystem in the…
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The trade association said many banks in the U.K. had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.” The self-regulatory trade association CryptoUK has proposed providing a ‘white list’ of registered firms in the United Kingdom to address banks limiting or banning transactions to crypto companies.…
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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 status on Sunday. Investors are concerned that the cash infusion from 11 major financial institutions may not address the bank’s liquidity issues. First Republic’s shares…
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Blockchain technology can help solve current issues with settlements, according to the deputy chief executive of Sberbank. Russia’s largest bank is working with other financial institutions to develop blockchain-based payment applications, the banker revealed. Sberbank Sees Solution to Russia’s Troubles With Settlements in Blockchain With major Russian banks disconnected from the main global interbank payment…
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