Monica Crowley, former Assistant Secretary for Public Affairs at the US Treasury Department, noted the “catastrophic” consequences if the US dollar loses its status as the world’s reserve currency. In related news, billionaire Bill Ackman warned that the U.S. economy is “headed for a train wreck.” Meanwhile, First Citizens Bank has acquired SVB and the U.S. government remains the top holder of seized bitcoins. Others include.
Former Treasury official warns of complete economic collapse if the U.S. dollar loses its status as the world reserve currency
Monica Crowley, former undersecretary of the U.S. Treasury Department for public affairs, warned of “catastrophic” consequences if the U.S. dollar loses its status as the world’s reserve currency.” It would mean the end of the U.S. dollar,” she said, predicting that “there would be a complete collapse of the global economic system.”
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Billionaire Bill Ackman on the US banking crisis: ‘We could be headed for a train wreck’
Billionaire Bill Ackman warns that the U.S. economy is “headed for a train wreck” if the government leaves the current banking crisis unchecked. He said, “Trust and confidence can take years to earn, but it can be wiped out in a matter of days.” Hopefully, regulators will get this right.”
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The U.S. government remains the top holder of bitcoin, with seized stores valued at $5.6 billion
As of March 25, 2023, the U.S. government held 205,515 bitcoins valued at $5.6 billion, which, according to current statistics, represents about 1.06% of the total in circulation. The bitcoin cache is the result of three confiscations that began in 2020; on-chain data from Glassnode revealed that on March 9, approximately 9,860 bitcoins worth roughly $269 million were sent to a Coinbase address.
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First Citizens Bank Buys Silicon Valley Bank, Costing FDIC Deposit Insurance Fund Estimated $20 Billion
According to the Federal Deposit Insurance Corporation (FDIC), troubled bank Silicon Valley Bank (SVB), acquired by First Citizens Bank&a trust company headquartered in Raleigh, North Carolina. First Citizens acquired all deposits and loans from SVB, as well as 17 branches that SVB owned throughout the United States.
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