Bank

Another Chinese Lender Bailed Out After Bank Run

</header> <strong>Yichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that its top management was in …

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Why Central Banks Are Not Designed for Democracies

</header> <strong>Through their policies, central banks exert tremendous influence over the socio-economic conditions in a country and its business environment. Their decisions are so powerful that it’s obvious they are part of the government. But most people would be surprised to find out that central banks are almost never part of the due democratic process. …

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Belarusian Bank Gets the Go-Ahead to Service Crypto Investors

</header> <strong>A bank in Belarus has effectively gotten the green light to process transfers related to digital assets. DFS, an affiliated company of Belveb Banking Holding’s member VEB Technologies, was recently registered as a resident of the High Technologies Park. The country’s special economic zone has already become home to many crypto businesses. </strong> Also …

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Why Bitcoin Is Better Than Banks: Major Credit Card Breach Exposes 60M Accounts

</header> <strong>Sberbank, the largest bank in Russia with a regional and global presence, has suffered a major data breach. Personal information belonging to millions of clients is now being sold on the black market. Initial analyses suggest the trove of data for sale is real, highlighting the risks associated with traditional banking. </strong> Also read: …

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Banking Giant HSBC Set to Fire 10,000 More Employees

</header> <strong>The banking sector continues to suffer drastic layoffs as the global economic outlook remains uncertain. The latest financial institution reported to be set for cutting a massive amount of workers is HSBC, which has already announced firing thousands of people just a few weeks ago.</strong> Also Read: Bitfinex Braces for Imminent Lawsuit Alleging Tether …

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Bank Raided, Arrests Made but RBI Still Restricts Withdrawals

<header class=”article__header”> </header> <strong>The crisis has elevated at the cooperative bank recently placed under regulatory restrictions by India’s central bank. Multiple branches have been raided and several arrests were made. However, the RBI continues to impose a withdrawal limit, preventing bank customers from accessing their savings. The bank has 137 branches across India.</strong> Also read: …

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‘Gold-Backed’ Crypto Token’s Promoter Investigated by Florida Regulators

The Takeaway Florida regulators are investigating Karatbars, a German company that’s been promoting a token tied to a Miami “crypto bank” without any banking license in the state. Karatbars previously issued a cryptocurrency purportedly backed by gold, but CoinDesk has been unable to verify the existence of the mine the company says produced the gold. …

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German Bank Predicts BTC at $90,000 After Next Halving

</header> <strong>You wouldn’t expect a traditional financial institution to come up with a very optimistic forecast</strong><strong> about the future of a cryptocurrency or an honest appraisal of its design. But Bayern LB, a lender based in the rich German province of Bavaria, has surprised the crypto community. In a recently published research paper, the bank …

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Big Banks Won’t Touch Crypto Clients – But These Smaller Banks Will

</header> <strong>Cryptocurrencies undoubtedly bring new business opportunities. The expanding industry around digital assets and its customers need more and more services that traditional sectors can provide. Banking is often a bottleneck in the crypto space as most traditional institutions are still reluctant to get their feet wet. Smaller banks, however, are more willing to occupy …

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