Even though the crypto market remains resilient amid a series of collapses, the crypto industry faces a challenging future of tightening oversight and lack of liquidity with banks under pressure.
Another day, another troubled bank.
Bloomberg revealed that First Republic was close to becoming the latest name on the list of the banking crisis. The bank was reportedly struggling to maintain its financial stability and exploring sale options.
New Bank In Trouble
On Thursday, Wall Street came to the rescue funded by some of the largest banks. The list includes JPMorgan, Bank of America, Citigroup, Wells Fargo, Goldman Sachs, and Morgan Stanley.
The Federal Deposit Insurance Corporation (FDIC) previously stepped in with a bailout for Silicon Valley Bank and Signature Bank, ensuring that customers could access their deposits starting from Monday this week.
An earthquake hit the banking sector in less than a week after three banks closed doors,…
