Bitcoin rallied more than 8.6% Wednesday to its highest level in a week, after renewed selling of First Republic stock revived concerns about the health of...
Bitcoin rallied more than 8.6% Wednesday to its highest level in a week, after renewed selling of First Republic stock FRC revived concerns about the health of the U.S. banking sector.
Shares... Bitcoin rallied more than 8.6% Wednesday to its highest level in a week, after renewed selling of First Republic stock FRC revived concerns about the health of the U.S. banking sector. Shares of First Republic FRC fell 20% Wednesday morning to around $6.75 after a 49% plunge on Tuesday. The stock was trading around $125 a share at the start of the year. The San Francisco-based bank said Monday that deposits fell 41% in the first quarter, though withdrawals have stabilized in April.
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First Republic bank says deposits tumbled 40% to $104.5 billion in the first quarterThe lender said things have stabilized since last month's banking emergency, but it will still reduce headcount by 20% to 25% in the second quarter.
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