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Report: 15% of First Republic Workforce Being Cut After Acquisition

pymnts.com JPMorgan Chase is reportedly cutting about 15% of the workforce from First Republic Bank. The move follows JPMorgan Chase’s May 1 acquisition of the bank that had been…

Tether Rapidly Withdrew Almost $5 Billion From Banks in 2023

beincrypto.com USDT stablecoin issuer Tether minimized exposure to banks by taking out billions of dollars worth of bank deposits in the first three months of 2023. Tether announced in a…

Crypto Investment Firm CoinShares Reports Highest Quarterly Earnings since Q1 2022

coinspeaker.com Coinspeaker Crypto Investment Firm CoinShares Reports Highest Quarterly Earnings since Q1 2022 Popular crypto investment firm CoinShares recently published its first quarter…

Ex US bank bosses call collapse 'unprecedented'

bbc.com The former bosses of two US banks that collapsed in March, sparking global fears over the state of the financial industry, say the failures were caused by "unprecedented"…

Michael Burry of ‘The Big Short’ gambles on regional bank stocks

aol.com Michael Burry, who famously shorted subprime mortgages during the 2008 financial crisis, is making a big new bet on regional banks. His hedge fund Scion Asset Management…

NCET Director: DOJ Will Crackdown on Crypto Exchanges

cryptodaily.co.uk The director of the DOJ’s National Cryptocurrency Enforcement Team (NCET) said the US is stepping up scrutiny of crypto exchanges. Eun Young Choi, director of the Department…

Banks: 10 Weeks Into The Bank Wreck. Where Do We Stand? Who's At Risk?

investors.com It's now been 10 weeks since SVB Financial became the first FDIC-insured banks to fail in 2023, sparking a string of failures and industry chaos. The sector remains…

Bear of the Day: PacWest Bancorp (PACW)

yahoo.com Since March, the following banks have collapsed or have been sold for pennies on the dollar: Signature Bank of New York (SBNY), Silvergate Capital (SI), Silicon Valley Bank…

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