Third Bank Failure In 30 Days: First Republic Bank Falls
Channel: BTC Lighthouse
Date: 2023-05-03

The collapse of First Republic Bank on May 1, 2023 has broken records, making 2023 the year with the biggest bank collapses in US history. Three out of the largest five bank failures have all happened this year and it's only May. The combined assets of these banks were more than 550 billion dollars, making 2023 a record breaking year. Also, First Republic Bank is not a crypto bank. US banking regulators blamed crypto for the collapse of SVB and Silvergate, so now let’s see who they will blame. Bitcoin shot up to almost 30 thousand dollars from the news, then sharply dropped, and has been volatile but also range-bound between these levels. It didn’t really jump like the way it jumped from 20 thousand to 30 thousand dollars when the previous 2 US banks collapsed.

#shorts