2024

Pacific

Bank AI

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    <p>Early 2023 was an incredibly difficult time for regional <a rel="noopener noreferrer nofollow" title="Banks" href="https://thebittimes.com/tag/banks.html">Banks</a> in the <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> — particularly <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> <a rel="noopener noreferrer nofollow" title="Banks" href="https://thebittimes.com/tag/banks.html">Banks</a>. Silicon Valley, First Republic, Signature, Silvergate, and Pacific Western Bank all either collapsed, closed down, or had their assets and liabilities purchased.</p>
    <p>As the year continued, no further bank runs or collapses occurred; it appeared as though the worst of the regional banking crisis had passed.</p>
    <p>Unfortunately, more regional <a rel="noopener noreferrer nofollow" title="Banks" href="https://thebittimes.com/tag/banks.html">Banks</a> are teetering again, including a couple that r<a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a>hed in to purchase assets and liabilities from Signature Bank and Silicon Valley Bank — which serviced <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> and tech companies.</p>
    <p>Yesterday, New York Community Bank’s shares fell sharply by almost 40%. The decline came after the bank announced that it was cutting dividends and charging off multiple real estate loans, according to American Banker. The bank, which purchased assets from Signature Bank in 2023, became a Category IV bank last year after crossing $100 billion in total consolidated assets.</p>
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       The show goes on: How Signature Bank’s bailout saved Broadway
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    <p><em>Read more: The red flags of Axos, which banked CZ, Scott Purcell, and Alex Jones</em></p>
    <p>Simultaneously, several mid-sized banks throughout the country are struggling to reconcile investor woes concerning their commercial real estate holdings — though exposure seems minimal compared to the dramatic events that punctuated February through May of 2023.</p>
    <p>Lastly, First Citizens Bank, which acquired assets and depositors from Silicon Valley Bank last year, suggested that 2024 may be slow considering a decline in private equity, venture capital, and an overall downturn in the tech sector.</p>
    <p>Banks regional or otherwise certainly aren’t facing the crises that they were last year, but it’s evident that the sector, along with real estate, is still dealing with the lingering effects of a tumultuous economic outlook over the past few years.</p>
    <p><em>Got a tip? Send <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> an email or ProtonMail. For more informed news, follow <a rel="noopener noreferrer nofollow" title="US" href="https://thebittimes.com/tag/us.html">US</a> on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/banks-that-bought-up-crypto-banks-struggle-in-2024-tbt78497.html">https://thebittimes.com/banks-that-bought-up-crypto-banks-struggle-in-2024-tbt78497.html</a></p>

Banks that bought up crypto banks struggle in 2024

TheBitTimes

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