The tightening of the crisis at First Republic leads to urgent rescue interviews, what does that mean for Bitcoin?

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Die Aktien der First Republic Bank sind auf ein Rekordtief gefallen, nachdem der Kreditgeber bekannt gegeben hatte, dass Einleger im ersten Quartal über 100 Milliarden Dollar abgehoben hatten. Sie steht massiv unter Druck, seit eine Reihe von Bankenpleiten in den Vereinigten Staaten Ängste vor einer größeren Krise geweckt haben. Die privatwirtschaftlichen Initiativen werden von den Beratern der First Republic Bank geleitet, müssen aber noch eine Einigung erzielen. US-Beamte sind nun eingesprungen, um dringende Gespräche zur Rettung der 1985 in San Francisco gegründeten Geschäftsbank zu koordinieren. Chaos in der Ersten Republik Der Zusammenbruch der Silicon Valley Bank (SVB) und der Signature …
The first Republic Bank's shares fell to a record low after the lender announced that inserters had withdrawn over $ 100 billion in the first quarter. It has been under massive pressure since a series of bank bankruptcies in the United States have aroused fears of a larger crisis. The first Republic Bank consultants are managed by the private sector initiatives, but still have to reach an agreement. US officials have now stepped in to coordinate urgent discussions on the rescue of the commercial bank founded in San Francisco in 1985. Chaos in the first republic The collapse of Silicon Valley Bank (SVB) and the signature ... (Symbolbild/KNAT)

The first Republic Bank's shares fell to a record low after the lender announced that inserters had withdrawn over $ 100 billion in the first quarter. It has been under massive pressure since a number of bankruptcies in the United States have aroused fears of a larger crisis.

The private sector initiatives are managed by the first Republic Bank consultants, but still have to reach an agreement. US officials have now stepped in to coordinate urgent discussions on the rescue of the commercial bank founded in San Francisco in 1985.

chaos in the first republic

The collapse of Silicon Valley Bank (SVB) and the Signature Bank last month fueled the fear of infection in the entire banking sector. Since then, investors have followed the financial health of regional lenders, including First Republic.

According to Reuters, the US government authorities who have started to carry out with financial companies are the Federal Deposit Insurance Corporation (FDIC), the Ministry of Finance and the Federal Reserve. The government's participation helps to bring more parties, including banks and private equity companies, to the negotiating table.

However, it is not yet clear whether the government is planning to rescue the first republic with its participation. But a source said the step encouraged the leaders of the lender because they are struggling to construct a deal that would avoid a takeover by the US regulatory authorities.

Two of the sources in the report indicated that the US officials keep a deal with the private sector to prefer, instead that the First Republic falls into the FDIC bankruptcy management. In order not to fall into ruin, several options were proposed. This includes the sale of assets or the creation of a "Bad Bank" that would isolate its underwater assets. However, a deal still has to be completed successfully.

"Every solution would have to go hand in hand with a cover of the losses that would take over the first republic or a potential purchaser of the bank in the event of a transaction. These losses would come from the credit book and the fixed -interest portfolio of First Republic, whose earnings would be devalued to increase the interest rate."

where is Bitcoin?

The banking crisis has heavily burdened the financial institutions in the United States this year, and Bitcoin seems to be on the winning side.

At the beginning of this week, First Republic said that it was out of date after it became known that almost $ 100 billion had been lost in deposits. While analysts and investors already seem to have lost confidence in them, Bitcoin has gained a considerable amount in the same period near $ 30,000.

With falling confidence in the US banking system, as well as its opponents in Europe, the interest in Bitcoin, which was created during the previous massive banking crisis.

Selected image with the friendly approval of FT

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