Wednesday☕️
Trending:
- First Republic Bank
- ISIS Leader Killed
Markets/Economies:
- Yesterday's US stock market:
- Yesterday's crypto market:
First Republic Bank:
- First Republic Bank experienced a loss of $102 billion in deposits last month amid the banking turmoil in March. Regained trust in the bank appears to have dissipated. First Republic Bank stock has had a 93% decrease this year (as of yesterday).
- The regional lender reported a 40% decline in deposits (in a 22 day period) during last quarter, which could have exceeded 50% if not for the support of 11 large banks that provided $30 billion to boost confidence.
ISIS Leader Killed:
- US officials have confirmed that the Taliban eliminated the ISIS leader behind the 2021 Kabul airport attack, which resulted in the deaths of 13 US service members.
- During the summer of 2021, as the Taliban gained control of Afghanistan, the US evacuated thousands of American citizens and Afghan allies through Kabul International Airport.
- On August 26, a bombing at the airport's perimeter led to the deaths of 13 US service members, injuries to 18 others, and the loss of over 150 civilian lives. According to recent information from US officials, the Taliban has now killed the ISIS official responsible for orchestrating the attack.
Business:
- Coinbase has filed a lawsuit against the SEC, seeking to compel the regulatory body to respond to its request for cryptocurrency guidelines. The SEC has been intensifying its regulation of crypto companies and has previously cautioned that it may take action against Coinbase.
- An appeals court confirmed Apple's win in the Epic Games antitrust lawsuit regarding App Store fees. The court agreed that Apple was not operating a monopoly. Despite partially favoring Epic, Apple celebrated the ruling as a significant victory since it prevailed on nine of the ten claims.
Statistic:
- Increase in valuations this year:
- Apple: +$553 billion
- Nvidia: +$303 billion
- Microsoft: +$291 billion
- Meta: +$221 billion
- Amazon: +$213 billion
- Alphabet (Google): +$202 billion
- Tesla: +$118 billion
Article Links:
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The Federal Reserve: Modern Money Mechanics
The Federal Reserve, also known as the Fed, is the central banking system of the United States. It was created in 1913 with the passage of the Federal Reserve Act, which aimed to establish a more stable and flexible monetary and financial system. The Fed is made up of 12
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