Is Cryptocurrency a Scam? Is the Financial System a Scam?

There are many accusations that Cryptocurrency is a complete scam and blockchain-backed technologies are mostly scams. There have clearly been large scams in the area of cryptocurrency. Crypto companies and exchanges have failed, There has been hacking, theft, and fraud. The algorithmic stablecoin Terra failed last year. In December 2022, JPMorgan Chase Institute reported that …

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SVB Crisis Explained

The SVB situation is explained by Jay Singh, Former Goldman Sachs Manager of billion dollar funds and founder of Specialist Research. Tom Nash is interviewing Jay Singh. The CEO of Silicon Valley Bank bought $90 billion of ten-year securities. They did not offset the long-duration interest risk. They did not have interest rate hedges. When …

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First Republic Bank Is Down 64% Today

First Republic and Other Smaller US banks are trading down about 64% today. It is down 90% from its 12 month peak. Western Alliance Bancorp was down as much as 85% today. PacWest Bancorp was down 60%, hitting a record low. Other regional banks were also down Customers Bancorp Inc., Comerica Inc., Zions Bancorporation, East …

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Silicon Valley Bank Under FDIC Control

Silicon Valley Bank shares fell 80% today and in after-hours trading from where they were at the beginning of yesterday. Silicon Valley Bank lost $1.8 billion in the sale of U.S. treasuries and mortgage-backed securities that it had invested in, owing to rising interest rates. Customer deposits including Peter Thiel’s Founder Fund companies pulled deposits …

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Elon Musk Talks About Making Twitter the Biggest Financial Institution in the World

Elon Musk is live at the Morgan Stanley conference providing an update on Twitter. He describing how Twitter has been made better for advertisers and its users. Elon Musk says he will make Twitter into the biggest Financial institution in the world using payments and other financial services by becoming an Everything App. Twitter is …

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