Cameron Winklevoss, co-founder and CEO, Gemini, a crypto exchange, has blamed United States regulators of spreading double standards over managing First Republic Bank situation, as stated by Cointelegraph.
According to Cointelegraph, Winklevoss stated that had First Republic been a “crypto bank,” it would have been “assassinated weeks ago.” It’s believed that Winklevoss’ claims have been correlated with letters belonging to three United States House of Representatives Financial Services Committee’s Republican individuals, to get data around crypto companies in US.
Based on information by Cointelegraph, First Republic’s advisors highlighted that they’ll appeal to US banking institutions for providing monetary help to the bank, over government not taking the bank into receivership. It’s believed that First Republic’s advisors spoke on the current private market solution to the firm’s liquidity concerns, and how the bank would remain operational.
Moreover, Cointelegraph noted that First Republic Bank’s crisis would ensure a tailwind for Bitcoin and cryptocurrency-based investments, due to alleged distrust of investors towards centralised banking institutions.
(With insights from Cointelegraph)