Cryptocurrency firms are scrambling to find institutions to bank with after the collapse of Signature Bank and Silvergate Capital. These companies have turned to crypto-friendly Swiss banks, flooding them with requests for banking services, according to multiple industry insiders who spoke to CNBC. Part of why companies are seeking out Swiss banks is the country’s … Read more
A tumultuous week in the U.S. financial markets ended on an uncertain note Friday after a massive $30 billion injection of big-bank deposits into First Republic Bank failed to calm investors. Last week, the sudden meltdown of three U.S. banks – Silvergate Capital, Signature Bank SBNY and Silicon Valley Bank – began to rekindle concerns … Read more
Bitcoin is up 50% this year despite the collapse of major crypto-focused banks, beating major stock indexes and commodities. On Jan. 1, bitcoin began trading at just over $16,500. On Wednesday, it was hovering around the $25,000 mark, thanks to a rally that began on Sunday. The recent rise has come as somewhat of a … Read more