$100,000,000,000 Exits First Republic Bank in 30 Days, Insiders Expect US Government To Seize Troubled Institution


Shares of First Republic tumbled 50% in a matter of hours on Tuesday as the troubled bank revealed a massive flight of customer capital. The bank says customers pulled $100 billion worth of deposits out of the bank in March – a number that surprised analysts and fueled fresh concerns about the health of the US banking system as a whole. Fox Business senior correspondent Charles Gasparino says bankers working with First Republic now expect a total federal takeover of the troubled institution. “Bankers working with First Republic Bank say they expect eventual government receivership for the ailing bank after it exhausts private sector solutions such as asset sales and finding a buyer, both of which appear difficult. Officials at the big banks believed the Feds were poised last week to take over FRC just before its earnings announcement crushed shares.” The bank says it will fire 20 to 25% of employees as part of an effort to shrink its balance sheet and stay afloat. First Republic stock is now down 93% since the start of 2023, and its Tuesday selloff triggered a downward move in the regional banking sector as a whole. About a month ago, Fox News reported First Republic may be headed for a sale. 


The report named Morgan Stanley and PNC as potential buyers. If First Republic outright fails with no buyout and no additional government assistance, the FDIC will insure individual customer accounts up to $250,000. Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox Check Price Action Follow us on Twitter, Facebook and Telegram Surf The Daily Hodl Mix Check Latest News Headlines Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post $100,000,000,000 Exits First Republic Bank in 30 Days, Insiders Expect US Government To Seize Troubled Institution appeared first on The Daily Hodl. 



Source : [$100,000,000,000 Exits First Republic Bank in 30 Days, Insiders Expect US Government To Seize Troubled Institution](dailyhodl.com/2023/04/25/100000000000-exits-first-republic-bank-in-30-days-insiders-expect-us-government-to-seize-troubled-institution/) by Daily Hodl Staff - 25The Daily Hodl by Daily Hodl Staff / April 25, 2023

rayn.finance logo


240 rue Evariste Galois,

06410 Biot,

Sophia Antipolis

Automata Pay

65-66 Warwick House 4th

Floor, Queen Street, London

England, EC4R 1EB

Automata Pay Europe Ltd

3rd Floor Ormond Building,

31-36 Ormond Quay Upper,

Dublin 7, D07 Ee37

Automata ICO Ltd

Italian Branch

Via Archimede, 161,

00197 Roma


The purchase of digital assets is subject to a high market risk and price volatility. Changes in value can be significant and occur rapidly and without warning. Past performance is not a reliable indicator of future performance. The value of an investment and returns can fluctuate both up and down, and you may not recover the amount you invested. RISK WARNING

Automata ICO Limited has a branch in Italy with its registered office at Via Archimede, 161, Roma, Italy, and registered in Italy under number 96550860587 with the Organismo Agenti e Mediatori (OAM) as a Virtual Asset Service Provider (VASP).

Automata France SAS is a company registered in France with the company number 902 498 617. Automata FRANCE SAS is registered with the french Financial Market Authority, l’Autorité des marchés financiers (“AMF”), as a provider of Virtual Asset Service Provider under number E2023-087.

Automata Pay Europe Limited is a partner of Modulr Finance B.V., a company registered in the Netherlands with company number 81852401, which is authorised and regulated by the Dutch Central Bank (DNB) as an Electronic Money Institution (Firm Reference Number: R182870) for the issuance of electronic money and payment services. Your account and related payment services are provided by Modulr Finance B.V. Your funds will be held in one or more segregated accounts and safeguarded in line with the Financial Supervision Act.