TechLife Chronicle

 The recent bankruptcy of Silicon Valley Bank (SVB) has caused First Republic Bank to face its largest crisis yet, with large-scale withdrawals and a steep decline in stock prices. This has led to anxiety in the market, with concerns that small and medium-sized U.S. banks could also face collapse. In response, Jamie Dimon, Chairman of JPMorgan Chase, is gathering large banks to come up with a strategy to stabilize First Republic. According to The Wall Street Journal (WSJ), Dimon is leading the preparation of measures to stabilize First Republic by considering ways to increase its capital with the CEOs of large banks. The options on the table include selling First Republic, injecting external capital, or direct investment by the banks. These banks are also beneficiaries of attracting deposits withdrawn from SVB and First Republic. The situation facing First Republic is dire. After the news of SVB bankruptcy broke on the 10th, First Republic's customers withdrew USD 70 billion, which...

  The recent financial crisis at Silvergate Bank has been a game-changer for Bitcoin traders. The cryptocurrency has been fluctuating wildly over the weekends, reflecting the volatile nature of the trading market without any closing. This situation has forced coin investors to keep a watchful eye on Bitcoin's price, especially during weekends. Bitcoin's price has surged significantly over the past weekend, starting from Friday, the 17th of the month. The cryptocurrency, which was hovering around the late $24,000 range, witnessed a sudden spike in the afternoon of the 17th and has since crossed the $27,000 mark over the weekend. In just two days, it has risen by more than 8%, and on a weekly basis, it has seen a jump of more than 30%. The primary reason behind this surge in Bitcoin's price is the prospect that the crisis in the U.S. banking industry is far from over. Following Silvergate Bank, other banks such as Silicon Valley Bank and Signature Bank are also at risk. In Eu...