First Republic Bank collapses, JP Morgan to take over ‘all deposits’
JP Morgan will assume insured and uninsured deposits totalling $92 billion, and $30 billion in securities from First Republic Bank.
JP Morgan will assume insured and uninsured deposits totalling $92 billion, and $30 billion in securities from First Republic Bank.
Despite JP Morgan chairman Jamie Dimon’s longstanding hatred of crypto, his bank has a lengthy history of dabbling in digital currencies.
One of the world’s largest banks has been quietly working on a multi-trillion dollar project called institutional DeFi, but setbacks remain.