Watchman: Cryptocurrency Banks Are Being Targeted. The White House Targets Cryptocurrencies and Calls for Stronger Enforcement by Regulators–They (Gov) Don’t Want to Lose Their Monopoly

HNewsWire: Despite President Biden and US Treasury Secretary Janet Yellen telling Americans that the US banking system is “safe and sound,” Moody’s Investors Service announced today that it had downgraded the US banking system to “negative” from “stable” to reflect “the rapid deterioration in the operating environment.” They also said today that they, along with five other regional banks, were investigating First Republic’s debt rating for a possible downgrade. Moody’s Investors Service downgraded the US banking sector to negative from stable on Tuesday, citing “rapid deterioration in the operating environment” as a result of deposit runs and the collapses of Silicon Valley Bank, Signature Bank, and Silvergate Bank. S&P Global Ratings is reviewing First Republic Bank’s A-minus rating. Moody’s stated it was looking into downgrading First Republic’s debt rating, along with five other regional banks. Debt downgrades often increase the…

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