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First Republic Bank $FRC expected to be seized by US government, Fox reports.
This is not a cyrpto currency or Shitcoin it is First Republic Bank $FRC. Stock trading halted, citing volatility, after sinking another 18% today.
It may take more bank collapses to get crypto back into a bull market
First Republic Bank is down 90% and trading was halted 9 times yesterday. Yet, the bank continues to operate as the US Gov looks for ways to revive it. Meanwhile Signature Bank was seized and shut down over a weekend without any attempt to revive it, simply because it was pro-crypto
[SERIOUS] The Banks Are Just As Suspect As Crypto Exchanges During The FTX Collapse…They Are Just Sanctioned By The Fed To Do It
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Introducing crypto communities to Godspeed Exchange.
Floki Rocket Cum $FRC is Low market cap GEM, LP burned 🚀
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I bought btc at 15600 and sold it again when it went to 15600 because I thought it was going to 12k (because dumbass right here.) I also bought so many stocks and had like 15% returns in one or two days and never sold and always held until the stocks were less and then I sold for a loss every time. If I bought and held like any of the ten investments I made I would’ve made like 80% returns on average. And it was in different times too so I would’ve like doubled and then doubled again. But finally I held onto something. FRC.
I would say that we have yet to see the worse to come yet. For those who argued that a recession has already occured, why dont the fed think this way, why would they continue rate increase? Its because we arent really in a recession yet. The stock market dropped due to fear of how fast the rate increase, not because something in the economy breaks. The FED will only cut rates when something actually breaks.The reason i feel why people is thinking this is a bull market is because they believe that the FED will bail them out by cuting interest at first sign of trouble like how they did it in the past decade. Think about now, many regional banks have literally no time to manage their risk asset and hence we have the FRC and silicon bank situation The bank funding programme has turned many regional banks into zombie banks now. The commercial real estate has yet to crash yet. Yield curve is inverted AF. Furthermore, in a real bull market, there should be increasing liquidity as more people FOMO in like how its done in past cycle, yet volume remain low. Just a few weeks ago people say btc will drop to 24k, now when we hit 30k they say it will go to 35,40k etc.
75-80% down on the stock market? That thing is ripping up. Were you all in FRC? Keep DCAing, we ll get through it.
In the essence of debate, at a wholesale price my guess it would be cheaper to buy their platform rather than build. My guess is there was some interest but as OP's submission statement alluded to, the uncertainty around the regulatory framework likely cooled any interest. Ironically, why would JPM want to buy FRC? Well because the regulatory framework favors big players like JPM giving JPM a competitive edge, so much so thay JPM took from FRC what it wanted at an instant profit and dumped the rest on the FDIC's feet.
I got in around 2 months ago and I started buying around 27-29k. Average of 28k. I’m a little timid right now because of all the negative press of coinbase and what just got announced in Canada. Terrified of just being a bag holder again after FRC
Hmmm this is exactly what took out FRC and SVB, etc...
**Crypto Forefront 6 May -** The global crypto market cap stands at $1.21T, a 1.06% increase from the previous day. Bitcoin regains the $29,000 mark and is traded at $29,395.34, Ethereum regains its $1,900 mark and is traded at $1,964.96. \- SEC launches investigation into First republic bank $FRC executives for insider trading. \- Pepecoin marketcap soars to nearly $1.5B after binance,Kucoin Listed. \- Bybit announces the listing of #PEPE coin on their spot trading platform. \- Ethereum jumps to $2K as memcoins help burn more ETH for gas fees. \- Shiba Inu burn rate skyrockets 39,000% after mysterious wallet burns 1.69 billion $SHIB \- Kingdom of Bhutan to raise $500 million for hydro-powered bitcoin mining operations
tldr; After First Republic Bank (FRC) became another victim of the banking crisis a couple of months after Jim Cramer endorsed it, several other large banks have been suffering major losses, despite the TV personality and CNBC’s ‘Mad Money’ host predicting the end of the contagion after FRC. The banks in question are PacWest Bancorp, Metropolitan Bank Holding Corp, Comerica Incorporated, and Western Alliance Bancorporation. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
🇺🇸 SEC launches investigation into First Republic Bank FRC executives for insider trading.
r/wsb is worse than some people in this sub, I just saw someone who lost 200k there from FRC. Literally from 200k to 0.
That dude made a post saying FRC is going to resume trading and he'd be able to cash out. We shall see.
> $FRC has a loan book full of jumbo-mortgages made to rich people at low rates that are now worth way less after interest rates rose. When you look back you realise just how crazy low rates were for a time. You would hope they'd have the foresight to build the hikes in.
It’s interesting how this is being covered by the media. As soon as SVC and Signature went down, there were a bunch of tweets on a Friday claiming the FDIC had taken receivership of FRB. In hindsight, it seems they were pushed by people looking to short $FRC. And it totally worked. The news makes zero reference to how it lazily reported this at the time, after doing no fact checking. (Would be awkward though, right? “We believed a tweet from some guy and ran it as news. Oopsie!”) It was largely because it was a short that the $30B rescue attempt happened so quickly. There was no actual rotten core at the bank. Everyone moved everything over $250k out anyway (my Wise statement from the last few months looks insane) and now here we are. Point being, the bank was fine and was failed. It didn’t fail. I’ll be interested to see how the SEC handles the fallout because, you know, it should! It was such a simple and affective strategy. Look for private banks like those that failed, short them and lie to the media making the lies come true when people panic. I feel bad for the people at FRB. It’s such a good bank, and has helped me navigate some difficult times over the years. The staff there are truly top tier across the board. I hope JP Morgan sees the value in the brand and level of service and just keeps it as “Posh Chase”.
I think it's telling that every meeting starts out with him saying that banks are sound and resilient. He said that before FRC too.
US regional banks' stocks following collapse of First Republic Bank $FRC. • PacWest: -30% • Western Alliance: -25% • Metropolitan Bank: -21% • HomeStreet: -15% • Zions Bank: -10% • KeyCorp: -7% • HarborOne: -6% • Citizens Financial: -5% Why would crypto do this?🤣
My German Shepherd will also survive the FRC buy out. Isn’t he marvellous?
\> US regional banks' stocks following collapse of First Republic Bank $FRC. : PacWest: -30%• Western Alliance: -25%• Metropolitan Bank: -21%• HomeStreet: -15%• Zions Bank: -10%• KeyCorp: -7%• HarborOne: -6%• Citizens Financial: -5% It seems that BTC is eating all the liquidity that is leaking from these regional banks.
US regional banks' stocks following collapse of First Republic Bank $FRC. • PacWest: -30% • Western Alliance: -25% • Metropolitan Bank: -21% • HomeStreet: -15% • Zions Bank: -10% • KeyCorp: -7% • HarborOne: -6% • Citizens Financial: -5%
FRC was definitely covered by the media. Doesn’t make it any better, but it was everywhere.
They would have been much better off to actually nationalise FRC, rather than this JP Morgan deal. Run the bank under government ownership for five years, return those $5 billion profits to the taxpayer instead of handing them to JP Morgan, and then sell the bank back to the private sector. That's effectively what the UK government did with Northern Rock when it went under. I suppose that would be seen as just too un-American of a thing to do, regardless how much financial sense it makes.
tldr; BitMEX co-founder Arthur Hayes believes that JP Morgan’s takeover of First Republic Bank means the US regulators decided to nationalize the banking system. JP Morgan was already the largest bank by deposits in the U.S. prior to the FRC deal, holding over 16% of deposits. The FDIC is covering $13 billion in losses and providing $50 billion in funding. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
It wasn’t mortgages tho my man. FRC caters to the rich. They don’t default. It’s what they did with the money they got from the mortgages that screwed them over. I’m speaking to you calmly and respectfully and you are getting worked up, so at this juncture I will bow out and let you have your victory.
I worked at FRC my man. I now work for JP Morgan.
Negative. FRC went under cause they went long on bonds and then the fed Jack up interest rates.
I mean you could buy FRC. It was pretty cheap this morning lmao
How much exposure did FRC have to crypto? None, but still collapsed. Not making sense.
BANK CRISIS BODY COUNT: 5 🇺🇸 - FRC, SVB, Signature, Silvergate 🇨🇭 - Credit Suisse 🇩🇪 - Deutsche Bank? 🇫🇷 - ? 🇬🇧 - ? 🇪🇸 - ? This is just the beginning....
This is worse than "troubled". "I am" troubled, FRC is fucked.
The clown who shilled FRC recently is going belly down along with other banks he shilled few months ago !! Inverse cramer always strikes .
>JUST IN: Jim Cramer says the collapse of First Republic Bank $FRC could mark the end of the banking crisis. Oh boy.
PNC, JPM putting in final bids for First Republic, $FRC, in FDIC auction, per Reuters
My guess…Final FRC receivership announcement will get us there today probably. Then we’ll be back here when .25% rate hike comes in later this week. Even though I think the rate hike is bullish for BTC.
> what is stunning is the speed of the collapse I was looking at some of the numbers yesterday just for shits and giggles and this phrase prompted me to share: On March 8th $FRC closed at $115.00. On April 28th -- less than 2 months later -- it closed at $3.51 Another interesting tidbit is that the commonly accepted "first domino" in the 2008 crisis came on March 17th with the failure of Bear Stearns. It wasn't until September when Fannie Mae, Freddie Mac, Lehman Brothers, and AIG failed; confirming a catastrophic financial crisis. If there's a global financial crisis in 2023 it's likely there will be many times where we start to think "it's been okay for weeks. Maybe we'll be okay."
they are worried about crypto while FRC is still trading and pulling a LUNA on boomer value "bottom fishers"
Signature,SVB,Silvergate go under: these banks had too much exposure to crypto and they inevitably failed FRC turns away crypto clients and goes under: *crickets*
Looks like Bitcoin is getting a boost from First Republic Bank's financial woes. I'm happy for BTC, but sad for FRC. It's a bittersweet situation.
Thanks Gary, wow I feel so much safer now. Now do Kramer for promoting FRC last week.
Guys, we just saw $FRC stock go from $100+ to sub $2 today in less then two months, I’m ready for the day of reckoning!! 
Guys, we just saw $FRC stock go from $100+ to sub $2 today in less then two months, I’m ready for the day of reckoning!! 
Jim Cramer says the collapse of First Republic Bank $FRC could mark the end of the banking crisis. I guess more banks failing then
So how long until the government blame FRC on crypto??
If 20 in here sold all their moons, the price would nosedive. Also, more importantly, why should we bail out FRC?
who or what is FRC? I clearly missed sometime
I'd sell moons to watch FRC burn to the fucking ground maybe.
So what if we band together to sell our moons and then bail out FRC
Realistically, Whales are probably diversifying their assets due to the macroeconomic global situation. Things aren't looking great for the US dollar, and with FRC bank teetering on collapse, China doing more international trade in Yuan than USD for the first time since in decades, etc. if you were just sitting on stupid amounts of wealth, now might seem like a great time to turn your wealth into real assets like Property, food stores, metals, etc. TL;DR: Whales are probably buying up \*things\* with their gains, just in case we see a major backslide in the US dollar. If I was a BTC whale, a well stocked, fortified, rural compound might sound like a pretty good idea right about now.
Move your money to a bank that lets you spend it how you want. Just don’t move it to SVB or FRC.
This daily is deader than FRC
FRC with a mild 73% dip this week
If it wasn’t for the make-whole loans from the fed on hold-to-maturity securities, other banks would probably be going under already - but this will just fester for a bit, fed must keep raising rates, and this backstop can only hold the tide back for a little bit. If other banks see 40% drops in deposits like FRC then it’s game over.
FRC stock has been halted 13 times today LOL it’s over
Anyone buying the "dip" on FRC shares lmao
Holy cow FRC is on one helluva straight shot mission to $0
People criticize the crypto space for being manipulated yet FRC is allowed to be continuously halted during open market hours to contain the dumpster fire
FRC is dumping again. The government will step in after the stock market closes I think as it’s a Friday. BTC isn’t flying though… maybe next week?
First Republic, $FRC, most likely headed for FDIC receivership, per CNBC.
Do not forget the newest addition, FRC(First Republic Bank)
Opposite point: there will be no more bank runs. SVB’s collapse forced other banks to shore up their balance sheets as the street took a long hard look at all of them. When the tide goes out, you find out whos swimming naked. That being said, FRC could absolutely collapse. The hit on their stock is hard to overcome. For now, the storm has passed. Other mid-tier regional banks either had or has recently applied more extensive rate risk practices. The Fed will raise rates again - at this point everyone and their mother knows it. Whats unknown is how long the Fed will keep the terminal rate in play. I suspect it will extend into late 2024, but its possible JPow wusses out and cuts in late 2023 early 2024
No FRC will not be the last domino to fall many others will follow suit. All strengthening Bitcoin as they go down.
If the government were to refuse a bailout of First Republic, he argued, it could set off a dangerous chain reaction of insolvencies. *"“But if FRC fails, and depositors take an L. Then every other bank with the same issues, will go under shortly thereafter. The entire US banking system suffers from the same issues,” part of a Twitter thread read""* Good. Let it burn down.
FRC was 150 couple months ago and now it’s at 6 lol
And FRC collapsed, don't forget it's bank failure Friday.
I think stocks are still a bit oversold. Could see some good pumpage across the board today (except for you FRC/bank stocks)
Some people think it has something to do with a false alarm about Mt Gox but I personally think it was because of FRC
TBH i was an FRC customer, there was no way in hell I'd have predicted what was about to happen.
FRC was the proving grounds. We have a long ways down from here.
IMO, it's purely circumstantial. Projections a few months ago was that the US gov would hit the debt ceiling around June. Then the banking crisis in March happpened, which seemingly increased their rate of spending as they created their "backstop," and as a result the time to hitting the debt ceiling lessened to something perilously close to now. So now they genuinely can't afford to intervene. If the debt ceiling gets raised before FRC goes completely under, however, then I suspect the gov will step in and guarantee deposits, etc etc. In other words, if FRC hadn't gotten that $30 billion injection to buy them some time, they probably would've gotten bailed out (albeit their execs would suffer the same fate as SVB's).
What's the current leading theory for the drop? - Mt. Gox and US government selling - FRC/shitbanks selling crypto to stay afloat
I mean, yeah, FRC is completely fucked but it seems only contained to them. Other banks have reported earnings recently and doing well. Also market tanked yesterday, rebounded late afternoon with MSFT better than expected earnings which likely triggered crypto to run too. But stock market, except the tech sector, has been bleeding all day today and yet crypto had been pumping until like 30 mins ago. What changed? Its confusing
lol FRC is still getting crushed. We’ll take our wins where we can get em at this point
Any guesses as to why the US gov isn't bailing out FRC?
More stable than the banking S&P and the banking system seems to be these days. Goodbye to FRC, another bank falls.
Lost money on FRC but gained a lot more on crypto...I guess I'll call it a win 🙂🤷♂️
All the FRC investors are getting wet feets and moving to the future
FRC was doing massive real estate loans to rich people at sub market rates. Not ever going to end well. 30 year mortages are a shitty bet even at market rates. Supposedly they gave Zuck a many millions mortgage with a rate near 1%.
FRC isn't the only bank the FED nuked with unrealized net losses from US Treasuries... Its just the only one their talking about atm. Remember, the FDIC Resolution Committee determines which bank fails, and on which friday it'll fail. It'll always be on a friday, and it'll seldom be multiple banks at the same time, so as not to cause public panic.
Banking collapse is opening people's eyes to the scam called fractional banking. Should hit 35k with FRC collapse this week.
Looks like they've halted trading of FRC stock due to "volatility". Bitcoin: 🗿🗿🗿
Someone out there bought FRC at around 130 last month...$5 today But I'm a twat for holding crypto
The stock's top of the First Republic Bank (FRC) within the last year was nearly 170 USD, now it stays at 6 bucks => 96% down ladies and gentlemen. TL;DR **buy BTC** 😅
lost some money on FRC but i guess the crypto wallet is doing great
Fuck cramer he shilled FRC while back and look at where we are now . I should have gone reverse on FRC missed the chance .
My BTC gains are going to cancel out the train wreck that is my FRC shares… 😃
FRC stock now halted. Not surprised one bit. Lol
Wow I know I keep talking about FRC but it really is nuts seeing it cratering while BTC has its pump to almost 30 again! To be fair tech futures are also up, but still… there must be something to it…Right?
My guess is FRC is about to sink again
FRC looked like it was going to have a little relief bounce but looks like it’s dumping more. I fear another bank going down! BTC is looking good in comparison. Wondering if regular people can see what’s happening!
I was watching stocks most of the day. I don’t think btc jumped until Microsoft and Google reported earnings. It was down when FRC was dumping
tldr; The price of Bitcoin spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25. First Republic began experiencing issues in early March which led to 11 of the largest banking institutions in the US depositing $30 billion at the troubled bank. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
tldr; The price of Bitcoin spiked more than 3% in the last 24 hours as fears were sparked of another possible imminent bank failure as First Republic Bank (FRC) shares closed down more than 50% on April 25. First Republic began experiencing issues in early March which led to 11 of the largest banking institutions in the US depositing $30 billion at the troubled bank. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
 HOMEMARKET US BANK CRUMBLES: CAN BITCOIN FIX THIS?  ADMIN APRIL 26, 2023 Facebook Twitter  Shares of First Republic Bank (FRC.N) fell over 20% after reporting a deposit decline of more than $100 billion in Q1. Will legacy banks continue to downplay cryptocurrency, or diversify? Depositors pulled over $100 billion from First Republic Bank in the first few months of the year. The deposit outflows started last month after two regional lenders collapsed, leading customers to move their money to larger institutions. The news follows a Q1 rocked by the largest banking crisis since 2008. “With the closure of several banks in March, we experienced unprecedented deposit outflows,” First Republic’s chief financial officer, Neal Holland, said in a statement. “We are working to restructure our balance sheet and reduce our expenses and short-term borrowings,” he added. As the bank grapples with liquidity problems, some observers may wonder whether it has gone far enough to diversify its offerings. These have been somewhat limited. For example, First Republic Bank has not established a crypto trading platform of its own, instead directing customers to third-party brokerages. Here, it stands in contrast to banks and platforms such as SoFi, Neobank N26, Juno, Robinhood, and others with more diversified offerings.
The stock market was down. Banks were. Especially FRC. BTC pumped. Some may say it’s because of shorts being wiped out instead of people running to BTC, and that might be true. But maybe, people are running to BTC too? Either way I hope people enjoy the decorrelation for now no matter what the reason is!
Last month, Jim Cramer said First Republic Bank is a "very good bank." $FRC stock has since fallen by 89%, over concerns that the bank is at risk of collapsing.
FRC is doomed, going to strengthen BTC