On May 1, U.S. regulators seized and sold First Republic Bank (FRB) and its assets to JPMorgan in what has now become the largest bank failure since 2008. FRB is the fifth bank to fail in less than two months, following on from Silvergate, Silicon Valley Bank, Signature Bank, and Credit Suisse. Despite the rising […]
Bitcoin rises amidst string of bank failures: is this the start of a new financial era? Bitcoin rises amidst string of bank failures: is this the start of a new financial era?
CryptoSlate takes a look at the consequences of JPMorgan’s acquisition of the failed First Republic Bank and its effect on BTC.
3 min read
Updated: Feb. 14, 2024 at 3:32 am UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
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Bitcoin, a decentralized currency that defies the sway of central banks or administrators, transacts electronically, circumventing intermediaries via a peer-to-peer network.
JPMorgan
JPMorgan Chase & Co is a global leader in financial services, offering solutions to the world’s most important corporations, governments, and institutions in more than 100 countries.
Silvergate
Silvergate is a Federal Reserve member bank and the leading provider of innovative financial infrastructure solutions and services for the growing digital currency industry, based in La Jolla, California.
Silicon Valley Bank
Silicon Valley Bank (SVB) is an American commercial bank that is headquartered in Santa Clara, California.
Credit Suisse
Credit Suisse is a global investment bank and financial services firm founded and headquartered in Switzerland.
Signature Bank
Signature Bank® (NASDAQ: SBNY) is a New York-based full-service commercial bank with private client offices throughout the New York Metropolitan area, Connecticut, North Carolina and California.
