Another US Bank Plummets as Bitcoin Continues To Gain Ground

2024-3-1 05:25

After reportedly experiencing internal control issues, New York Community Bank (NYCB) stock has plunged over 20%, hitting its lowest point in 27 years.

Amid NYCB stock decline, Bitcoin approaches its previous all-time highs.

NYCB Declines, Bitcoin Rises

The Kobeissi Letter reported that New York Community Bank is facing its lowest stock price since 1997.

“The weakness is reportedly related to loan review resulting from ineffective oversight and risk assessment.”

NYCB previously acquired Signature Bank, which collapsed during the regional banking crisis in March 2023.

Read more: Crypto vs. Stocks: Where To Invest Your Money in 2023

While many assumed that crypto was the cause due to its pro-crypto stance, the bank confirmed that it was not the case. In April 2024, NYDFS Superintendent Adrienne Harris confirmed that crypto was not the cause of the closure.

New York Community Bancorp, Inc Stock Graph. Source: The Kobeissi Letter

Federal regulators closed Signature Bank, citing concerns about systemic risks.

However, mainstream media blamed crypto for its downfall.

Harris described the events leading to the failure as “a new-fashioned bank run.”

NYCB Bitcoin

She said Signature had a high percentage of uninsured deposits and lacked liquidity management protocols to meet withdrawal requests.

According to the Federal Deposit Insurance Corp (FDIC), Signature Bank had around $4 billion of deposits related to its crypto asset banking business.

Read more: 10 Best Crypto Exchanges And Apps For Beginners In 2024

NYCB wasn’t the only US regional bank to have its share price affected in recent times.

On February 7, the Kobeissi Letter reported that Valley National Bank was down 25%, Metropolitan Bank had lost 15%, HarborOne dropped 14%, and Comerica Bank had sunk 13% so far this year.

Meanwhile, the plummeting share price is coming alongside Bitcoin nearing close to its 2021 all-time high price of $65,000 USD.

At the time of publication, Bitcoin’s price is $61,493.

The post Another US Bank Plummets as Bitcoin Continues To Gain Ground appeared first on BeInCrypto.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Time New Bank (TNB) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.01 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 4.209b TNB

bitcoin bank another plummets gain ground continues

Источник: beincrypto.com

bitcoin bank → Результатов: 126


Фото:

Iran’s New Crypto Law Requires Miners to Sell Bitcoin Directly to Central Bank

Iran has reportedly revised the country’s cryptocurrency regulation to require licensed bitcoin miners to sell their coins directly to the central bank for use to fund imports. Iran’s Revised Crypto Law The Iranian government has amended its cryptocurrency regulation to enable the country’s central bank to fund imports with bitcoin legally mined in the country, […] The post Iran’s New Crypto Law Requires Miners to Sell Bitcoin Directly to Central Bank appeared first on Bitcoin News.

2020-10-30 16:55


Аналитики Deutsche Bank высказали мнение о Bitcoin. Специалисты банка заглянули в будущее

Один из известных в мире инвестиционного банкинга брендов, Deutsche Bank, представил аналитический доклад, который посвящен тому, какое место криптовалюты, в частности, Bitcoin могут занять в будущем.

2020-2-3 09:15


Фото:

Russian Central Bank Comes out Against Bitcoin, Would Support a Ban

On November 29th, the Central Bank of Russia came out against Bitcoin, claiming that their local ruble should be the nation’s only legal tender. While nothing has been set in stone as of yet, the Central Bank is open to banning the ability to buy goods and services with Bitcoin due to the risky nature […] The post Russian Central Bank Comes out Against Bitcoin, Would Support a Ban appeared first on BeInCrypto.

2019-12-2 12:26


Bank of Canada Survey: Canadians’ Bitcoin Ownership Rising Upwards, Notably Among Females & Older People

The central bank of Canada has revealed the findings of its Bitcoin Omnibus Survey that monitors the trends in the awareness, ownership, and use of Bitcoin and other crypto-assets among Canadians. The main interest of the Bank of Canada in this survey is in monitoring Bitcoin adoption “to understand how its usage by Canadians could […]

2019-11-7 19:56


Why We Should Never Hope For A Central Bank Of Bitcoin

Bitcoin economist, Tuur Demeester, explains why the idea of a ‘Central Bank’ of Bitcoin would create more problems than it would solve.   Bitcoin Exchanges Similar To Early US Banking System In the wake of the Binance hack and Bitfinex/Tether debacle, are crypto exchanges becoming ‘too big to bail’? And if so, should we be looking towards a ‘Central Bank Of Bitcoin’ as a solution? Bitcoin economist, Tuur Demeester, explains why he thinks that would Read More The post Why We Should Never Hope For A Central Bank Of Bitcoin appeared first on Bitcoinist.com.

2019-5-15 10:00


It’s stupid to buy Bitcoin from tobacco stores, says French regulator

The central bank of France and its local financial markets regulator,ncies are often unregulated and, generally, not well-suited for uninformed investors. “[In light of recent announcements to offer cryptocurrency coupons in tobacco stores,] the AMF, the Bank of France, and the French Prudential Supervision and Resolution Authority warn that the acts of purchasing, selling, and investing in Bitcoin are currently… This story continues at The Next WebOr just read more coverage about: Bitcoin

2018-11-26 17:07


Фото:

Bank Of America Show That Bitcoin Transfers Are 6000 x Cheaper Than Their Own

The Bank of America have released data that shows how Bitcoin transfers equate to around 6000 times cheaper than the traditional transfer of FIAT currencies at the banks own standard rates. Many do argue that Bitcoin transactions carry a ridiculous expense, however with these findings in mind, Bitcoin is still proving to be a far superior alternative to FIAT currencies.

2018-9-21 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Over 20% of Large Cap Crypto Have Major Risk of Token Unlocks

A study of the top 300 cryptocurrencies shows over 20% are at risk of significant market impacts from upcoming token unlocks, revealing a trend concentrated in newer coins. The post Over 20% of Large Cap Crypto Have Major Risk of Token Unlocks appeared first on BeInCrypto.

LBank to list Mollars following ICO close

LBank announces the listing of Mollars (MOLLARS) following its ICO close on June 1, 2024, with the project nearing a sold-out event and raising $1.3 million. #LBank #Mollars