Minibubbles in U.S. Banking Are Popping

Minibubbles in U.S. Banking Are Popping


(Bloomberg) — A two-century-old bank in the New England countryside suddenly became one of the hottest stocks in US finance a couple of years ago after making an unlikely proclamation: It was willing to help cryptocurrency ventures.Most Read from BloombergProvident Bancorp Inc., whose first chairman fought under George Washington in the Revolutionary War, watched its stock skyrocket 140% in just 14 months as Bitcoin hurtled toward a record high in November 2021. But as crypto prices fell and took down the FTX exchange …

Leave a Reply

Your email address will not be published. Required fields are marked *

Send this to a friend