Advisor / Board Member / Mentor #WX nut & I take pictures too.
United States
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Everyday is Zeroday
BREAKING: Binance has been hacked with wallets across the Ethereum, Bitcoin, and TRON networks seeing outflows of -$5.7 billion.
The hack includes $1.45 billion worth of Bitcoin and $875 million worth of ETH.
If confirmed, this would mark the biggest hack in crypto history.
We expect more information shortly.
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BREAKING: House Democrats have introduced a resolution that Congress should not bail out AI firms in the event of a financial crisis and should be subjected to the ordinary bankruptcy process.
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We need more community banks, not fewer.
Before the 2008 financial crisis: New banks were frequently approved with $5–12 million (sometimes as low as $7–10 million).
After the Great Financial Crisis and Dodd-Frank: Regulators roughly doubled typical requirements (to around $20 million or more). Analyses put average or median post-crisis figures in the $25–32 million range.
Throughout the past decade, industry advisers and regulators have consistently treated roughly $20 million as the practical floor for most community banks, with many proposals required to raise more (often $25–50 million depending on size, market, and risk).
There has been no general reduction in this expectation.
Every previous wave of consolidation has been met with de novo bank creation. Community banks have always “disappeared” but new ones have always been formed to take their place.
The dearth of community banks is not organic. It is bureaucratically engineered.
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KINDNESS. Before the D-Day landing, Ike (General Eisenhower) spent hours walking among the troops, looking them directly in the eye, ex exchanging s,mall talk. Little thing? Big thing? I call it the latter by many country miles.
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Heading to Charlotte for Banking Transformation Summit USA, Nov 9–10.
I'll be on stage with Bank of America, U.S. Bank and Synchrony talking about what separates an AI implementation that succeeds from one that stalls.
Going to be there? Let's connect.
#AI #Banking #Fintech
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Airlines are bracing for years of pain.
“Inflation will make people poor,” one airline executive said per FT.
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Additionally, we would have on average around 150 new bank charters per year. I don’t think we have had a total of 150 new charters since 2008.
We need more community banks, not fewer.
Before the 2008 financial crisis: New banks were frequently approved with $5–12 million (sometimes as low as $7–10 million).
After the Great Financial Crisis and Dodd-Frank: Regulators roughly doubled typical requirements (to around $20 million or more). Analyses put average or median post-crisis figures in the $25–32 million range.
Throughout the past decade, industry advisers and regulators have consistently treated roughly $20 million as the practical floor for most community banks, with many proposals required to raise more (often $25–50 million depending on size, market, and risk).
There has been no general reduction in this expectation.
Every previous wave of consolidation has been met with de novo bank creation. Community banks have always “disappeared” but new ones have always been formed to take their place.
The dearth of community banks is not organic. It is bureaucratically engineered.
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Iran? Russia?
Maybe Greenland …
BREAKING: A hacker is attempting to breach the US Federal Election Commission's systems and that agency has had to 'temporarily shut down' its web-facing services as a result, according to an email seen by Reuters reut.rs/4imQyUu
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