Bank Closures

According to reports, the CEO of BlackRock, the world’s largest asset management company, has warned that “changes in regulatory authorities may lead to more bank closures and failures in response to the collapse of several major U.S. banks. It now appears that some banks do inevitably need to reduce loans to support their balance sheets, and we may see stricter capital standards for banks.” CEO of BlackRock: Regulatory changes may lead to more bank closures and failures Analysis based on this information:The CEO of BlackRock, the world’s largest asset management company, has issued a stark warning in relation to the banking sector. According to reports, the CEO has predicted that regulatory changes may cause more banks to close or fail as a result of the collapse of some major U.S. banks. The CEO has identified that some banks will need to reduce their loans in order to support their balance sheets. This means that there will be less money circulating…

On March 13, Larry Cermak, Research Director of The Block, tweeted that three US banks providing banking services for the cryptocurrency business were eliminated. However, banks such as Customers Bank, First Foundation Bank, Cross River Bank, Sutton Bank, Evolve Bank&Trust, BankProv, and Quintic Bank still provide cryptocurrency banking services. Larry Cermak said that he did not mention big banks such as JPMorgan Chase and Bank of New York Mellon because most small businesses could not use these banks. Larry Cermak: Customers Bank and other banks still provide services for the encryption industry Analysis based on this information:In recent years, the cryptocurrency market has gained significant traction as more businesses and institutions have explored the potential benefits of this digital asset. However, despite the growing interest in cryptocurrencies, accessing banking services remains a significant challenge. The banking industry has shown a reluctance to provide services to cryptocurrency businesses due to the high volatility and regulatory uncertainties associated with cryptocurrencies. Moreover, recent…

On March 11, Coinbase posted an article on social media that said that the platform would suspend the conversion of USDC-USB when the bank closed on the weekend