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Bitcoin Price News: As the banking crisis spreads, U.S. financial regulators are reportedly working out the First Republic Bank (NYSE: FRC) buyout deal with three major banks. The Federal Deposit Insurance Corporation (FDIC) on Sunday received several bids from JPMorgan Chase, PNC, and Citizen. However, Bitcoin (BTC) price registered a decline as the deal closes in.
Also Read: Bitcoin’s Price Flashes Danger Sign, Massive Volatility Ahead?
According to reports, JPMorgan Chase & Co (JPM.N), PNC Financial Services Group (PNC.N) and Citizens Financial Group Inc (CFG.N) turned out to be one of the biggest bidders in the auction. It is expected that the FDIC will soon announce the deal and seizer of the collapsing bank.
Reuters reported that the U.S. watchdog attempted to revise the buyout bid in accordance with specific criteria. This included assets owned by the lender.
(THIS IS A DEVELOPING STORY)
The post Just-In: Bitcoin Declines Amid JPMorgan, PNC’s First Republic Bank Buyout Bid appeared first on CoinGape.
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