Deutsche Bank is in Trouble; Bitcoin to the Rescue?
Deutsche Bank has fallen facedown, but this time, no one’s there to pick it up. Working to avoid the mistakes of 2008’s financial crisis, German lawmakers have stated that should Deutsche Bank and other major players in the financial arena go under, bailouts will not be delivered post-haste. The bank has been traveling through dark waters for some time. As far back as July, analysts have been predicting a financial meltdown of sorts, and despite the bank’s best efforts to cut costs and relieve its mounting monetary burdens, net profits dropped by nearly 98 percent in just the last two....
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Deutsche Bank sees The DAO incident as a timely reminder of the importance of testing products before they are unleashed. In 2014 Deutsche Bank launched a series of innovation labs in collaboration with IBM, Microsoft and the Indian outsourcing company HCL. The aim was to improve the bank’s digital banking services. Deutsche Bank’s Blockchain project is now out of the ‘proof of concept’ stage. Deutsche Bank’s labs are based in Berlin, London and Palo Alto. Their Palo Alto lab’s aim is to evaluate emerging technologies from Silicon Valley and apply them to enhance their products. The three....
Germany does not intend to bail out any failing banks, including Deutsche Bank. According to Hans Michelbach, a senior lawmaker in Chancellor Angela Merkel’s voting bloc, resistance is growing to the possibility of stepping in to rescue a failing financial institution. Deutsche Bank, a prime candidate for collapse, is facing a fine of $14 billion from the US Department of Justice. Michelbach told Deutschlandfunk radio that the country is leery of repeating the mistakes of the 2008 financial crisis, where the world’s largest banks, deemed “too big to fail,” were bailed out with taxpayer....
Germany’s Deutsche Bank has become the latest financial services giant to confirm it’s leaving Russia over Moscow’s military assault on Ukraine. The bank has been reducing its Russian exposure since 2014 when Russia annexed Crimea and the conflict in Eastern Ukraine erupted. Amid Ongoing War in Ukraine, Deutsche Bank Pulls Out of Russia Deutsche Bank, Germany’s largest banking institution, is scaling down operations in the Russian Federation. The bank announced its move in a statement posted on Twitter late on Friday, condemning Russia’s invasion of....
Deutsche Bank’s economists have warned that the U.S. will suffer a major recession next year. However, several other major investment banks, including Goldman Sachs and JPMorgan, are less pessimistic about the future outlook for the U.S. economy. Major US Recession Incoming, According to Deutsche Bank’s Economists Deutsche Bank has predicted a deeper downturn than its previous forecast for the U.S. economy in a report to clients, published Tuesday. The bank’s economists, including David Folkerts-Landau, group chief economist and head of research, explained in the....
Deutsche Bank has predicted that the price of bitcoin will increase nearly 40% from the current level to $28K by the end of the year. The bank’s analysts also warned that “the crypto free fall could continue.”
Deutsche Bank’s Bitcoin Price Prediction
Deutsche Bank has reportedly predicted that the price of bitcoin will rise to $28,000 by year-end, Bloomberg reported Wednesday, citing an analysis by the bank’s senior economist and market strategist Marion Laboure and research analyst Galina Pozdnyakova.
Based on their analysis,....