Bitcoin

<h2 id="quick-take">Quick Take</h2>
<ul>
<li>First Republic Bank shares plunged during the opening bell of today&#8217;s trading session, 29% down.</li>
<li>As banking risks stayed high, First Republic Bank saw $100 billion in deposit outflows.</li>
<li>It seems First Republic Bank is being kept on life support as they received $30 billion from the largest lenders on Wall Street.</li>
<li>The bank&#8217;s deposits fell by 40% in 22 days; the decline could have been as big as 57% if not for the <a href="https://twitter.com/JackFarley96/status/1650599662326259724?s=20">rescue package</a>.</li>
<li>Furthermore, the bank expects to reduce its headcount by 20-25% in the next two months.</li>
<li>The opinion was that the banking crisis was over. However, regional bank stocks (KRE) are trading at year-to-date lows.</li>
<li>Bitcoin is up over 35% from the start of the banking collapse back in mid-march. Could another nose dive in the banking sector spur another rally for Bitcoin?</li>
</ul>
<figure id="attachment_320409" aria-describedby="caption-attachment-320409" style="width: 732px" class="wp-caption aligncenter"><img class="wp-image-320409 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/frb.png" alt="First Republic Bank Share: (Source: Google)" width="732" height="523" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/frb.png 732w, https://cryptoslate.com/wp-content/uploads/2023/04/frb-300x214.png 300w" sizes="(max-width: 732px) 100vw, 732px" /><figcaption id="caption-attachment-320409" class="wp-caption-text">First Republic Bank Share: (Source: Google)</figcaption></figure>
<figure id="attachment_320410" aria-describedby="caption-attachment-320410" style="width: 653px" class="wp-caption aligncenter"><img class="wp-image-320410 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/FF.png" alt="FRB: (Source: FRB earnings)" width="653" height="693" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/FF.png 653w, https://cryptoslate.com/wp-content/uploads/2023/04/FF-283x300.png 283w" sizes="(max-width: 653px) 100vw, 653px" /><figcaption id="caption-attachment-320410" class="wp-caption-text">FRB: (Source: FRB earnings)</figcaption></figure>
<figure id="attachment_320415" aria-describedby="caption-attachment-320415" style="width: 1834px" class="wp-caption aligncenter"><img class="wp-image-320415 size-full" src="https://cryptoslate.com/wp-content/uploads/2023/04/KRE.png" alt="KRE: (Source: TradingView)" width="1834" height="989" srcset="https://cryptoslate.com/wp-content/uploads/2023/04/KRE.png 1834w, https://cryptoslate.com/wp-content/uploads/2023/04/KRE-300x162.png 300w, https://cryptoslate.com/wp-content/uploads/2023/04/KRE-1024x552.png 1024w, https://cryptoslate.com/wp-content/uploads/2023/04/KRE-768x414.png 768w, https://cryptoslate.com/wp-content/uploads/2023/04/KRE-1536x828.png 1536w" sizes="(max-width: 1834px) 100vw, 1834px" /><figcaption id="caption-attachment-320415" class="wp-caption-text">KRE: (Source: TradingView)</figcaption></figure>
<p>The post <a rel="nofollow" href="https://cryptoslate.com/insights/first-republic-bank-stock-halted-amidst-stock-plunge-is-this-bitcoin-fault-as-well/">First Republic Bank stock halted amidst plunge: is this Bitcoin fault as well?</a> appeared first on <a rel="nofollow" href="https://cryptoslate.com">CryptoSlate</a>.</p>

First Republic Bank stock halted amidst plunge: is this Bitcoin fault as well?

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