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Beleaguered bank First Republic is now facing buyout bids after the Federal Deposit Insurance Corporation sought to arrange suitors Saturday following a hollowing out of the bank’s share price amid several weeks of market turmoil, multiple outlets reported. First Republic Bank is the latest financial institution to come under stress following the second- and third-largest…
Large U.S. banks reported massive earnings Friday, signaling that the biggest institutions largely shrugged off the banking crisis stemming from Silicon Valley Bank’s collapse. JPMorgan Chase, the largest bank in the nation, posted $12.6 billion in first-quarter profits, a whopping 52 percent increase from the same period last year. Wells Fargo’s quarterly profits rose 32…
Republicans on the House Oversight Committee quietly sent six subpoenas as part of their investigation into Biden family finances, according to a memo from Rep. Jamie Raskin (D-Md.). Raskin, the ranking member of the committee, wrote in a memo to other Democrats on the committee that Chairman James Comer (R-Ky.) has issued six subpoenas and…
” Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B “ The market capitalization of Bitcoin (BTC) has added $194 billion in 2023. Its 66% year-to-date (YTD) growth is vastly outperforming top Wall Street bank stocks, particularly as fears of a global banking crisis are rising. BTC market cap daily…
” Gemini’s banking relationship with JPMorgan ‘remains intact’ “ Crypto exchange Gemini took to Twitter on March 8 to deny rumors about terminating its banking relationship with United States financial conglomerate JPMorgan. In a brief and straightforward message, Gemini stated that “despite reporting to the contrary, Gemini’s banking relationship remains intact with JPMorgan.” The comments came…
” US banking giant BNY Mellon says digital assets are ‘here to stay’ “ Michael Demissie, the head of digital assets at Bank of New York Mellon (BNY Mellon) is adamant that the cryptocurrency market fall in 2022 won’t waver institutional interest in digital assets. At a conference run by Afore Consulting on Feb. 8,…
” 72% of institutional traders are crypto-skeptical this year: JPMorgan “ A whopping 72% of institutional e-traders have signaled “no plans to trade crypto/digital coins” in 2023, according to a new survey conducted by JPMorgan. The seventh edition of JPMorgan’s e-Trading Edit surveyed 835 traders from 60 different global locations about the technical developments and…
” Coinbase cut costs and bolstered rep, but profits remain challenged: Analysts “ Cryptocurrency exchange Coinbase won’t escape from the profitability challenges it will face from the crypto market downturn, despite having a strong brand and credibility in the crypto market, according to investment analysts. Credit rating firm Moody’s released a note on Coinbase on…
“JPMorgan touts editor job with $30,000 ‘annual restaurant budget’” Here’s one job to sink your teeth into. Banking giant JPMorgan Chase is seeking to lure a food editor by offering a “$30,000 annual restaurant budget” in an effort to drive clients to its credit card business. The New York-based role for its restaurant review service,…
” Crypto is a nonexistent asset for big institutional investors – JPMorgan exec “ Big institutional investors are still largely staying away from the crypto market, as the asset class’ volatility poses a challenge to money managers, Jared Gross, head of institutional portfolio strategy at JPMorgan Asset Management, told Bloomberg. “As an asset class, crypto is effectively…