ToeMissile
Pronouns: zie/zhem/zer
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Investing General Discussion
- Thread starter Furious
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ToeMissile
Pronouns: zie/zhem/zer
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Jysin
Ahn'Qiraj Raider
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$SI "oopsie"
www.bloomberg.com
For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.
In the starkest warning yet by a US bank catering to the sector, Silvergate Capital Corp. said Wednesday it needs more time to assess the extent of damage to its finances stemming from last year’s crypto rout — including whether it can remain viable. The shares plunged about 30% in premarket trading on Thursday.
The firm, which already reported a $1 billion loss for the fourth quarter, said that figure could climb higher. The company is still tallying the cost of rapidly selling assets to repay advances from the Federal Home Loan Bank System. It may also need to mark down the value of some remaining holdings.
Such an admission by a lender with federally insured deposits and more than $11 billion in assets will add to a debate among US lawmakers and regulators over whether banks can manage the risks associated with digital assets.
(Down 45% here in premarket)
Silvergate’s Big Crypto Losses Feed Watchdogs’ Worst Fears
For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.
www.bloomberg.com
For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.
In the starkest warning yet by a US bank catering to the sector, Silvergate Capital Corp. said Wednesday it needs more time to assess the extent of damage to its finances stemming from last year’s crypto rout — including whether it can remain viable. The shares plunged about 30% in premarket trading on Thursday.
The firm, which already reported a $1 billion loss for the fourth quarter, said that figure could climb higher. The company is still tallying the cost of rapidly selling assets to repay advances from the Federal Home Loan Bank System. It may also need to mark down the value of some remaining holdings.
Such an admission by a lender with federally insured deposits and more than $11 billion in assets will add to a debate among US lawmakers and regulators over whether banks can manage the risks associated with digital assets.
(Down 45% here in premarket)
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Jysin
Ahn'Qiraj Raider
- 6,286
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SI
So tempting to do the degenerate WSB play of buying some lotto calls off intraday lows, should they miraculously present their delayed 10K to show they are somehow still solvent. The squeeze could be magical.
*NOT AT ALL advice!*
Short Float / Ratio | 76.28% |
So tempting to do the degenerate WSB play of buying some lotto calls off intraday lows, should they miraculously present their delayed 10K to show they are somehow still solvent. The squeeze could be magical.
*NOT AT ALL advice!*
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Sanrith Descartes
Von Clippowicz
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So a company used Federally insured deposits to bet on crypto. Remind me again why repealing Glass-Steagall was a good idea?$SI "oopsie"
Silvergate’s Big Crypto Losses Feed Watchdogs’ Worst Fears
For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.
For months, US authorities have been racing to sever ties between banks and risky crypto ventures, worried the financial system could someday suffer serious losses. They may have been too late.
In the starkest warning yet by a US bank catering to the sector, Silvergate Capital Corp. said Wednesday it needs more time to assess the extent of damage to its finances stemming from last year’s crypto rout — including whether it can remain viable. The shares plunged about 30% in premarket trading on Thursday.
The firm, which already reported a $1 billion loss for the fourth quarter, said that figure could climb higher. The company is still tallying the cost of rapidly selling assets to repay advances from the Federal Home Loan Bank System. It may also need to mark down the value of some remaining holdings.
Such an admission by a lender with federally insured deposits and more than $11 billion in assets will add to a debate among US lawmakers and regulators over whether banks can manage the risks associated with digital assets.
(Down 45% here in premarket)
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Jysin
Ahn'Qiraj Raider
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Jysin
Ahn'Qiraj Raider
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I've long respected this man's opinion on all matters of the Fed. Worth a read and a follow.
www.bloomberg.com
What Now for a Fed That Has Fallen Behind the Curve Again?
The central bank downshifted rate increases too early and now faces a set of dilemmas and another knock to its credibility.
www.bloomberg.com
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Gravel
Mr. Poopybutthole
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Said it probably at least 6 months ago. They had two choices, save the economy or save the currency.I've long respected this man's opinion on all matters of the Fed. Worth a read and a follow.
What Now for a Fed That Has Fallen Behind the Curve Again?
The central bank downshifted rate increases too early and now faces a set of dilemmas and another knock to its credibility.
They chose the economy. Which if you have half a brain, is the wrong choice. If the currency goes, the economy goes with it.
Edaw
Parody
- 12,389
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I've long respected this man's opinion on all matters of the Fed. Worth a read and a follow.
What Now for a Fed That Has Fallen Behind the Curve Again?
The central bank downshifted rate increases too early and now faces a set of dilemmas and another knock to its credibility.
Without paywall: https://archive.is/LpTfL
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Sanrith Descartes
Von Clippowicz
- 41,569
- 107,661
MP getting crushed along with other rare earths companies after TSLA announced their new magnetic motor wont require rare earth metals in it.
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Jysin
Ahn'Qiraj Raider
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Added some 400shrs of SPY today 392.50
With a healthy pullback of the last weeks, the 100D, 200D, and market high descending macro trend line all basically within a few points of each other. It is worth it with some support levels so close in range.
Also bought some May $100 GOOGL calls.
With a healthy pullback of the last weeks, the 100D, 200D, and market high descending macro trend line all basically within a few points of each other. It is worth it with some support levels so close in range.
Also bought some May $100 GOOGL calls.
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Blazin
got it cause he's on the ball!And yes, shitting up the grown up areas of the forum is highly frowned upon. Keep the slapfighting to the shaw, people.
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Sanrith Descartes
Von Clippowicz
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Jysin
Ahn'Qiraj Raider
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13:35 (US) Fed's Bostic (non-voter): Fed could be in position to pause by mid-to-late summer
- Favors rating rates 25bps in March but is watching data
- Fed may have to do more given high inflation, strong jobs market; Will not decide until meeting on proper policy path
- Notes that higher rate endpoint could be needed if economy shows more strength
- Slow and steady changes in policy should reduce risk of a 'hard' outcome
- Businesses say they are expecting to ratchet down the pace of wage increases, but still plan to add workers
- Appropriate to be cautious so Fed does enough to control inflation but does not do 'more than we need to'
- Business executives say demand is strong, concerns are more macro-related than specific to their firm
- Considers risks now roughly balanced
- Debate underway about how much influence monetary policy is having in the current economy
- Firmly in the quarter-point camp for pace of rate hikes; Policy should begin to bite through the Spring
- Have seen 'some attenuation' of inflation but Fed needs to remain resolute in fighting inflation
- Will need to have some kid of slowdown in labor market but not catastrophic
- Will adjust outlook if data comes in stronger
- Still a long way to go to restore price stability
- Favors rating rates 25bps in March but is watching data
- Fed may have to do more given high inflation, strong jobs market; Will not decide until meeting on proper policy path
- Notes that higher rate endpoint could be needed if economy shows more strength
- Slow and steady changes in policy should reduce risk of a 'hard' outcome
- Businesses say they are expecting to ratchet down the pace of wage increases, but still plan to add workers
- Appropriate to be cautious so Fed does enough to control inflation but does not do 'more than we need to'
- Business executives say demand is strong, concerns are more macro-related than specific to their firm
- Considers risks now roughly balanced
- Debate underway about how much influence monetary policy is having in the current economy
- Firmly in the quarter-point camp for pace of rate hikes; Policy should begin to bite through the Spring
- Have seen 'some attenuation' of inflation but Fed needs to remain resolute in fighting inflation
- Will need to have some kid of slowdown in labor market but not catastrophic
- Will adjust outlook if data comes in stronger
- Still a long way to go to restore price stability
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Sanrith Descartes
Von Clippowicz
- 41,569
- 107,661
Jysin
Ahn'Qiraj Raider
- 6,286
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