Abubaker Jandan posted: " Grigori Rasputin راسبوتين هو لقب يطلق على غريغوري راسبوتين (1869-1916)، الذي كان راهبًا روسيًا ومستشارًا للعائلة الإمبراطورية الروسية في أواخر القرن التاسع عشر وأوائل القرن العشرين. كان راسبوتين شخصية غامضة ومثيرة للجدل، وقد اشتهر بتأثيره على العائلة " Abubaker JandanRead on blog or Reader
راسبوتين هو راهب روسي ومستشار للعائلة الإمبراطورية الروسية في القرن التاسع عشر والقرن العشرين. لقبه مثير للجدل بسبب تأثيره على العائلة المالكة وتورطه في الشؤون الحكومية. تم اغتياله في عام 1916 وتبع ذلك انهيار النظام الإمبراطوري وظهور الحكم الشيوعي.
Crypto Breaking News posted: "New York Community Bancorp (NYCB) faced significant challenges on Wednesday, with its shares plummeting by over 40%, prompting a halt in trading. Currently, NYCB shares have experienced a decline of just above 36%, trading at $6.61 per share. Last Year" Crypto Breaking NewsRead on blog or Reader
New York Community Bancorp (NYCB) faced significant challenges on Wednesday, with its shares plummeting by over 40%, prompting a halt in trading. Currently, NYCB shares have experienced a decline of just above 36%, trading at $6.61 per share.
Last Year's Banking Fears Resurface as NYCB Faces Harsh Earnings Reality
Financial challenges have resurfaced with New York Community Bancorp (NYSE: NYCB), the entity that acquired Signature Bank, witnessing a steep decline in its stock value during Wednesday's trading. The shares of NYCB nosedived over 40% against the U.S. dollar following the bank's recent earnings announcement. The financial organization has declared firm measures to bolster capital, fortify its balance sheet, and enhance its risk management practices as the company enters the realm of $100 billion large banks.
For the quarter ending Dec. 31, 2023, NYCB reported a net loss of $252 million, a stark contrast to the net income of $207 million in the quarter ending Sept. 30, 2023. The bank also noted that In the same period ending Dec. 31, 2023, the net loss available to common stockholders was $260 million, compared to a net income of $199 million for the quarter ending Sept. 30, 2023.
In a dramatic financial turnaround, the company's diluted earnings per share (EPS) plunged to a loss of $0.36 in the quarter ending Dec. 31, 2023, a stark reversal from the diluted EPS of $0.27 per share just three months earlier. The troubles faced by NYCB are reviving the same concerns that rocked the U.S. banking sector in March 2023, following the failures of Silicon Valley Bank, Signature, and First Republic. NYCB's acquisition of Signature Bank was facilitated through an arrangement with the Federal Deposit Insurance Corporation (FDIC).
JUST IN: The last time Bank Credit contracted this much was the Global Financial Crisis of 2008.
Large financial entities are grappling with the repercussions of long-term notes amidst the high interest rates set by the U.S. central bank. An uptick in interest rates leads to a reduction in the value of long-term notes, posing potential losses for banks. This is particularly precarious if banks are compelled to liquidate these assets at a loss, driven by abrupt withdrawals of deposits or other financial demands. This scenario adversely affected all three major U.S. banks last year, each struggling with the dual challenge of long-term notes and surging interest rates.
The collapse of Silicon Valley Bank triggered a massive exodus, with over $100 billion in deposits withdrawn, forcing the bank to liquidate long-term bonds at a loss and culminating in a classic bank run. NYCB's net income and diluted EPS for the fourth quarter of 2023 were influenced by costs related to the merger and a special assessment by the FDIC, the bank reported on Wednesday. "In 2023, New York Community reached an inflection point in its transformation to a dynamic, full-service commercial bank," Thomas R. Cangemi NYCB's CEO said.
What do you think about the issues New York Community Bancorp is dealing with on Wednesday? Share your thoughts and opinions about this subject in the comments section below.
Crypto Breaking News posted: "So, 2023 has been pretty epic for Bitcoin. It's like Bitcoin woke up and decided to flex its muscles big time. We're talking a massive leap, over 140% in value – that's huge! It's not just about topping traditional rivals like gold; it's also about leavin" Crypto Breaking NewsRead on blog or Reader
So, 2023 has been pretty epic for Bitcoin. It's like Bitcoin woke up and decided to flex its muscles big time. We're talking a massive leap, over 140% in value – that's huge! It's not just about topping traditional rivals like gold; it's also about leaving other cryptocurrencies in the rearview mirror. Let's dive into the on-chain action and the exchange buzz, trying to piece together clues to see what Bitcoin might be up to in the coming year.
Bitcoin's Blast from the Past
According to Glassnode's report, we're seeing a déjà vu with Bitcoin cycles in 2015-2017 and 2018-2022 in terms of how long it's taking to bounce back and the drawdown since the all-time high (ATH).
Source: Glassnode
In the current cycle, Bitcoin has seen a drawdown of about -37% from its ATH, which is pretty close to the -42% in 2013-2017 and -39% in 2017-2021. Plus, since the FTX lows in November 2022, Bitcoin prices are up a solid +140%, making it the strongest one-year return compared to the +119% in 2015-2018 and +128% in 2018-2022.
Exchange Activity: Bitcoin's Trading Paradox
Despite 2023 being a banner year for Bitcoin, the number of transactions depositing funds to exchanges has surprisingly hit multi-year lows. But here's the kicker: Glassnode data shows that the on-chain volume flowing in and out of exchanges has skyrocketed, jumping from $930 million to a staggering $3 billion – that's a massive 220% increase.
This discrepancy between fewer deposits yet skyrocketing volume makes us wonder: what's driving the intensified exchange activity if not retail investors? On one hand, the decrease in deposit transactions might suggest that investors are becoming more cautious about leaving their assets on exchanges, possibly due to security concerns or a desire for greater control over their funds. This is where the potential shift towards non-custodial exchanges like StealthEX comes into play. Given the FTX drama that's still on everyone's mind, it's no surprise that these platforms where you can keep your private keys are becoming more popular.
There's a serious uptick in on-chain volume showing that trading and speculation are buzzing more than ever. It seems that while investors might be shying away from depositing their funds, they are actively trading and moving large sums of money. This could be a sign of growing institutional interest, especially as we see the average size of deposits to exchanges nearing the previous all-time high of $30k per deposit, according to Glassnode.
Moreover, the fact that exchange deposits as a percentage of all transactions have dropped from around 26% in May to just 10% today, yet the decline is more modest (around 20%) when adjusted for Inscriptions, adds another layer to this narrative. Undeniably, we're witnessing a dynamic shift in the blockchain sphere as novel transaction types emerge and new players grab their share of the limelight.
Short-Term Holders Cashing In
Short-Term Holders (STHs) have been making some smart moves lately, cashing in on their Bitcoin investments at just the right time. Glassnode's got the stats to prove it – the STH-Supply Profit/Loss Ratio has been hovering above ~1 since January. This means these savvy traders have been playing the 'buy-the-dip' game pretty well, a classic move in uptrends. However, these STHs are moving hefty amounts of coins to exchanges, and the gap between what they paid and what they're selling for is pretty sizable.
Source: Glassnode
The first week of December, when Bitcoin hit $44.2k, STHs jumped into action, seizing the moment to take profits. It's like they saw the wave coming and rode it all the way to the shore, capitalizing on the demand liquidity. This activity has put a bit of a pause on Bitcoin's upward climb, demonstrating STHs' sway over crypto prices.
Wrapping It Up: Bitcoin and Beyond
So, there you have it – Bitcoin's 2023 story is a mix of triumphs, challenges, and a whole lot of excitement. Bitcoin, in its digital universe, never fails to keep us intrigued with its roller-coaster ride of strong recoveries and declines that resonate with historical patterns, even bouncing back recently despite a few bumps on the road. The play of STHs and the unpredictable ebbs and flows of exchange activities knit together a complex, yet intriguing narrative. Regardless of whether you're in it for the highs or the lows, or simply out of sheer curiosity, observing Bitcoin's ride is undoubtedly one to watch.
This is a guest post by Maria Carola. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
The last time Bank Credit contracted this much was the Global Financial Crisis of 2008.
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