Eleven banks deposit $30 billion into First Republic Bank
On Thursday, the Federal Reserve (Fed), the Department of the Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) announced that 11 banks had deposited $30 billion into First Republic Bank. This significant investment has demonstrated the resilience of the banking system and has provided a much-needed […]
Nutanix gets Nasdaq notice concerning late quarterly filing
On Thursday, Nutanix, an American cloud computing software company, announced that it had received a deficiency notice from the NASDAQ stock exchange because it had not filed its quarterly report with the Securities and Exchange Commission (SEC). This news came after the company reported partial results on its scheduled earnings day for the January-ending quarter, […]
MakerDAO passes proposal for $750M increase in US Treasury investments
Lending protocol and stablecoin issuer MakerDAO has recently passed a proposal to increase its portfolio holdings of United States Treasury bonds. The proposal calls for an increase from $500 million to $1.25 billion, providing a 150% increase in holdings. This move is intended to boost exposure to real-world assets and “high-quality bonds” following a loss […]
U.S. stocks finish sharply higher as First Republic gets rescue from banks
US stocks saw a sharp increase on Thursday, with the S&P 500 gaining 68.36 points or 1.8% to reach a closing high of 3,960.28. Meanwhile, the Dow Jones Industrial Average rose 371.98 points, or 1.2%, to close at 32,246.55. Additionally, the Nasdaq Composite climbed 283.22 points, or 2.5%, to close at 11,717.28. These figures follow […]
Still constructive on the Rupiah amid volatile markets – TDS
The Indonesian Rupiah has declined by 0.7% against the US Dollar this month, making it the biggest decliner among major Asian currencies. Despite this, economists at TD Securities remain positive about IDR’s future prospects. The Bank of Indonesia (BI) seems unworried about the current state of the currency and has reiterated its stance that it […]
Taking Photos and Minting NFTs at the Ends of the Earth, With FOTO’s John Knopf
The world of non-fungible tokens (NFTs) has opened up new avenues for experimentation and creativity for photographers. However, it took some time for “photography NFTs” to catch on among collectors and creators. Among the early adopters of NFTs was John Knopf, an Emmy Award-nominated landscape photographer for National Geographic. Initially, he saw crypto as a […]
Former Google CEO Schmidt releases AI film
Eric Schmidt, the former CEO of Google, recently released a short film titled “The Age of AI and Our Human Future”. In the 16-minute video, Schmidt, together with former Secretary of State Henry Kissinger and other experts, discussed how artificial intelligence (AI) will impact various aspects of our lives including industries, war, global relations, and […]
JPMorgan, Morgan Stanley, and others big banks in talks to strengthen First Republic – WSJ
First Republic, a mid-size US bank, has been facing difficult times in the wake of the Covid-19 pandemic. As a result, JPMorgan, Morgan Stanley, and other banks are reportedly discussing a potential deal that could include a substantial capital infusion to bolster the beleaguered lender. According to people familiar with the matter, negotiations are still […]
2-year Treasury yield jumps back above 4% after potential funding deal involving First Republic Bank
The financial market has been abuzz recently after reports emerged that JPMorgan Chase & Co., Morgan Stanley, and other major banks are considering a plan to bail out First Republic Bank. This development has seen the policy-sensitive 2-year Treasury yield soar past 4%. The rates for 6-month and 1-year T-bills have also spiked by 15 […]
No Crypto Business For The New Buyer(s) of Signature Bank: Report
Signature Bank, the crypto-linked bank, is up for sale by the Federal Deposit Insurance Corporation (FDIC) after its collapse. The FDIC has asked interested buyers to acquire the bank, with one major caveat: no crypto. This comes just two days after the collapse of California-based Silicon Valley Bank (SVB) and less than a week after […]