The Wasted Lands
$1000 BSC Tournament, 10Trillion weekly burns, Random giveaways, and more: The EvaChain!
$1000 contest, 1trillion giveaway, 10trillion burn, and more: The EvaChain!
EvaChain $1000 event and tax free/reduced weekend
EvaChain events: Reduced tax weekend, giveaways, and more!
Now WAL▪MART is seeking a crypto expert for development of a blockchain! ITS OFFICIAL! BOTH MAJOR U.S RETAILERS ARE IN! Just a matter of time...
⚡️ ZigZag stealth launching NOW ⚡️Be here before marketing campaign ⚡️Community-led, Fair DeFi Token [Liquidity LOCKED🔒] [Rug PROOF/STEALTH Launch] ⚡️ NO DEV WAL
WAL is the next bank now to look for a sale. Crazy….
$PACW - PacWest down 57% $WAL - Western Alliance Bank down 30% $MCB - Metropolitan Bank, down 20% 😳😳
I said 15% for WAL a minute ago but now it’s already - 20%…
Looks like WAL and MCB are following later too. Down 15% each after hours!
US Bank Stock This Year 😵💫: 1. HomeStreet, $HMST: -75% 2. PacWest, $PACW: -71% 3. Metropolitan Bank, $MCB: -64% 4. Zions Bank, $ZION: -51% 5. Western Alliance, $WAL: -47% 6. KeyCorp, $KEY: -45% 7. HarborOne, $HONE: -39% 8. Valley National, $VLY: -35% 9. Truist, $TFC: -33% 10. Citizens Financial, $CFG: -32% The entire US banking sector has now erased nearly $2 trillion in market cap since January 1st.
tldr; California-based PacWest Bancorp (PACW) saw its shares tank from $8.90 at 9:30 am ET on Monday down to just $5.50 by 11:10 am. It has since slightly recovered to $6.15 at writing time, representing a 27% net daily drop. Meanwhile, Western Alliance Bancorporation (WAL) has dipped by a similar 20.53% *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
US Regional Bank Stocks Today: 1. PacWest, $PACW: -30% 2. Western Alliance, $WAL: -25% 3. Metropolitan Bank, $MCB: -21% 4. HomeStreet, $HMST: -15% 5. Zions Bank, $ZION: -10% 6. KeyCorp, $KEY: -7% 7. HarborOne, $HONE: -6% 8. Citizens Financial, $CFG: -5%
Some regional banks dying. PAWC, WAL and MCB. BTC is above 28. Not too bad for BTC.
Dodged a big bullet my friend! Im rocking WAL at $11.
March 13 (Reuters) - Ratings agency Moody's on Monday downgraded the debt ratings of collapsed New York-based Signature Bank (SBNY.O) deep into junk territory and placed the ratings of six other U.S. banks under review for a downgrade. Moody's, which rated Signature Bank's subordinate debt 'C', said it was also withdrawing future ratings for the collapsed bank. The banks placed under review for downgrade are First Republic Bank (FRC.N), Zions Bancorporation (ZION.O), Western Alliance Bancorp (WAL.N), Comerica Inc (CMA.N), UMB Financial Corp and Intrust Financial Corporation, Moody's said.
Why is crypto pumping from an SVB bailout but WAL is tanking? I need to watch more news
Banks stocks pre-market data : PacWest Bancorp $PACW: -38% Western Alliance $WAL: -52% First Republic $FRC: -65% Signature Bank $SBNY: no trading
A potential banking crisis: $SIVB -61% $FRC -60% $WAL -42% $SBNY -38% $ZION -23% $EWBC -17% $FITB -15% $CMA -15% $KEY -15% $CFG -15% God damnn
>Tether has 11bn for both A1 and A2 graded papers. These are generally good and A1 graded papers almost never default. A2 and A3 are not that bad either. The Other graded ones are junk bonds. I wonder why the auditors didn't say what they are. Maybe that fat check they received had some conditions? So, that's 300m of trash which is like 0.5% of total reserves. Even if we pessimistically assume that these are defaulted bonds, it wouldn't have much impact. So my most pessimistic outlook for Tether is that it is 96% backed and most optimistic is 98%. So, yes it is true that Tether is not fully backed right now, and it is probably between 96-98% backed. But that doesn't mean it is going to implode and go to zero like Luna. Not an inaccuracy, but this is potentially heavily misleading. Not all ratings are alike. There's public ratings that are generally reliable, and there's private ratings that are a question mark. These are ratings where either Tether or the issuer is paying a ratings company to rate their debt. They might be perfectly legitimate, they might be Big Short style ratings from Chinese companies where the rating is intentionally overstated. Without Tether disclosing their holdings, it's impossible to infer anything concrete from their ratings table. There's also two major red flags that highlight the ratings may be suspect: * No one seems to have a clue how Tether is acquiring so much CP. They don't have their own investment team and they aren't partnering with any of the major financial institutions, yet they're one of the 10 largest holders of CP. Lends some credence to the China theory. * The maturity schedule shows their debt has a significantly longer WAL than money market funds. Could mean that their issuers are struggling to repay and are continually rolling over debt vs. paying down principal.
Did you even read this? There's some major redflags: * The attestation firm not being one of the Big 4 is enough by itself to be a cause for concern. The Madoff scandal went on for as long as it did largely because he hired a small audit firm who lacked the resources and funding to challenge him. If you've got $80 billion in assets, you can afford an extra couple thousand to hire a major firm. * The article hits on in briefly, but there's several thousand red flags around how Tether is investing billions in CP without the assistance of an investment bank. Normal companies either partner with a bank to issue their securities or will deal directly with money market funds if they have their own finance department. A few tech employees sourcing their own deals almost certainly implies their dealing with riskier investments from someone who can't access the normal market. Not to mention that Tether almost certainly doesn't have the expertise to analyze these companies on their own. * Somewhat related to the above, there's a massive liquidity difference in formally issued CP vs. what Tether may hold. If there's not an active market for the issuers securities, any sale is going to take some time to go through, and Tether would be selling at a significant discount to current value if they had to quickly liquidate. This is further compounded by Tether's assets having a significantly longer WAL vs. normal money market funds.