At least one person might be relieved, if not exactly happy, that the banking system is melting. All of a sudden, Sam Bankman-Fried’s alleged misdeeds look like small potatoes. Relatively speaking. But we note that the issues at hand are a difference of degree and...
There are no guarantees in life, except for insuring bank deposits up to $250,000. Or maybe more. In just about a week, three banks have failed, prompting a wide range of discussion about what could have been done, what should be done and what shouldn’t...
When it comes to banking, compliance is king. That makes proper accounting and internal controls queen, at the very least. This, as the collapse of Silicon Valley Bank (SVB) last week and Signature Bank over the weekend, comes just a handful of days after big-four accountant KPMG LLP reportedly gave both...
First Republic Bank is reportedly seeing “business as usual” after bank failures of recent days. CNBC reported Monday (March 13) that First Republic Bank Executive Chairman Jim Herbert told the network’s Jim Cramer that the bank was meeting withdrawal demands with the help of additional funding, was not...
March 16, 2023
At least one person might be relieved, if not exactly happy, that the banking system is melting. All of a sudden, Sam Bankman-Fried’s alleged misdeeds look like small potatoes. Relatively speaking. But we note that the issues at hand are a difference of degree and not of kind. Some of the same factors that led […]
March 02, 2023
Silvergate’s existential crisis may give regulators the ammunition they need to keep crypto and mainstream banking separate. As reported here, Silvergate Capital said in a U.S. Securities and Exchange Commission filing this...
January 18, 2023
Crypto continues battling through a historic shock to its system, while industry lessons accumulate. In just the past two weeks alone, bitcoin (BTC) has risen 30% on the year hitting...
March 27, 2023
Cryptocurrency firms left bankless following the downfall of two industry lenders have found new homes. That’s according to a Monday (March 27) report by the Wall Street Journal, which says some banks have welcomed business from crypto companies, even as the industry faces increased pressure from U.S. regulators. This month has seen two banks once known for […]
March 13, 2023
First Republic Bank is reportedly seeing “business as usual” after bank failures of recent days. CNBC reported Monday (March 13) that First Republic Bank Executive Chairman Jim Herbert told the network’s Jim Cramer...
March 13, 2023
Cryptocurrency firms are seeking banking services outside the U.S. following the collapse of three major lenders. “The two biggest crypto friendly banks are gone,” crypto hedge fund executive Marco Lim told Bloomberg News Monday (March...
January 23, 2023
Signature Bank has reportedly placed a new threshold on the cryptocurrency transactions it will handle. According to crypto exchange Binance, the bank will stop supporting transactions of under $100,000 beginning...
