Co-founder and CEO of Gemini Cameron Winklevoss, US regulators First Republic Bankaccused of applying double standards in handling the crisis.
According to Winklevoss, if First Republic were a crypto bank, it would have gone bankrupt weeks ago. Winklevoss’s allegations coincide with the letter penned by three republican members of the United States House of Representatives Financial Services Committee.
Investors Turn To Crypto Assets
government officials, silvergateAnd Silicon Valley BankHe appointed trustees on March 8 and March 10.
CNBC’s April 26 news reported that First Republic’s advisers refused the government to appoint a trustee to the bank, so they tried to find more financial aid to the struggling firm. However, First Republic advisors have reportedly said that the firm will ensure that the bank remains operational with the current private market solution to its liquidity issues.
Fox News senior correspondent Charles Gasparino, in his post on April 26, stated that the custom recovery is Silvergate and Silicon Valley BankU.S. Treasury Secretary, who does not want to bail out depositors with government funds, as in Janet Yellenreportedly supported by
Things got into a stalemate as First Republic reported in its Q1 report that total deposits fell by more than $100 billion. The firm said it will pursue strategic options to strengthen its financial position as soon as possible.
Shares of First Republic Bank have fallen more than 64 percent since Monday, from $16.14 to $5.68.
The collapse of First Republic Bank, as investors’ distrust of central banking institutions increased, bitcoinand is believed to be a trigger for them to invest in other cryptocurrencies.
