Unusual Whales

Elizabeth Warren is considering attempting to lift the FDIC limit from $250,000 to a "right number," possibly millions

Elizabeth Warren is considering attempting to lift the FDIC limit from $250,000 to a "right number," possibly millions, per Bloomberg. Just after, Bloomberg reported: US officials are studying ways to let the FDIC temporarily insure deposits beyond the current $250,000 cap on most accounts, without having

US lawmakers accepted more than $6.6 million worth of free airline tickets, hotel rooms and meals paid for by special interest groups in 2022

US lawmakers accepted more than $6.6 million worth of free airline tickets, hotel rooms and meals paid for by special interest groups in 2022,, per Bloomberg. The total of 1,785 trips that were paid for by outside organizations last year was up from 829 trips in 2021, and

Fed discount window borrowing reaches an all time high, higher than 2008

Fed discount window borrowing reaches an all time high, higher than 2008. Data published by the Fed showed US$152.85 billion in borrowing from the discount window — the traditional liquidity backstop for banks — in the week ended March 15, a record high, up from US$4.58 billion the

US officials are studying ways to let the FDIC temporarily insure deposits beyond the current $250,000 cap on most accounts, without having to get approval from Congress

US officials are studying ways to let the FDIC temporarily insure deposits beyond the current $250,000 cap on most accounts, without having to get approval from Congress, per Bloomberg. “We will use the tools we have to support community banks,” White House spokesman Michael Kikukawa said, without directly addressing

The Federal Home Loan Bank System issued $304 billion in debt last week, double the $165 billion that lenders tapped from the Fed

The Federal Home Loan Bank System issued $304 billion in debt last week. That’s almost double the $165 billion that lenders tapped from the Fed, per Bloomberg. “As members seek a stable source of funding in an unsettled market, the purpose of the FHLBanks has been on full display,

Chinese President: China is prepared to defend world order alongside Russia in accordance with international law

Chinese President said: China is prepared to defend world order alongside Russia in accordance with international law. “I am very glad, at the invitation of President Vladimir Vladimirovich Putin, to come back to the land of our close neighbour on a state visit,” Xi said upon arrival, according to Russia’

Biden signs bill to declassify COVID origins intelligence

Biden signs bill to declassify COVID origins intelligence. "In implementing this legislation, my administration will declassify and share as much of that information as possible, consistent with my constitutional authority to protect against the disclosure of information that would harm national security," Biden said in a statement. "

JPMorgan, $JPM, bought stone instead of nickel

The London Metal Exchange has discovered bags of stones instead of the nickel that underpinned a small handful of its contracts at a warehouse in Rotterdam, per Bloomberg. JPMorgan, $JPM, was found to have been the buyer, buying them when they were already in the LME. The amount of metal

META

Mark Zuckerberg's metaverse mentions are dropping as the company focuses more on how AI can improve its ads business

Per Business Insider Once upon a time, the metaverse was one of the only things Mark Zuckerberg could talk about, but now, the Meta CEO barely even mentions it. Even after renaming the company after the metaverse, in a recent note, "AI" was mentioned twice as many times

amazon

Amazon to add to its 18,000 job cut, which ended in January, by letting go of another 9,000 employees

Per CNBC While Amazon has already let go of 18,000 positions, which carried out from November to January, the company plans to let go of another 9,000 individuals. The layoffs were recently announced in a memo coming from CEO Andy Jassy. Jassy pointed out that one reason for

san francisco

San Francisco is considering to offer $1 homes and $97,000 a year to black residents

Per Business Insider San Francisco policymakers are considering tackling a sensitive topic regarding amends for its historical slavery legacy. Reparations could include offering Black residents $1 homes or $97,000 annually for 250 years. It was specifically noted that these reparations would be available as long as the residents qualified.

bernie sanders

Bernie Sanders comments on SVB collapse, shedding light on the CEO being the director of the San Francisco Fed

Per Bloomberg Bernie Sanders has spoken up about the recent Silicon Valley Bank collapse, providing a statement saying the most absurd thing about it was the link between the CEO and the San Francisco Fed. The senator then said he would be introducing a bill to counter this. Sanders revealed

openai

OpenAI's Sam Altman admits fears of ChatGPT eliminating multiple jobs

Per BI Sam Altman, the co-founder of OpenAI and acting CEO, has admitted that he was "a little scared" of ChatGPT, the company's chatbot, and how it could take the jobs of multiple people. Despite the fears of the tool potentially taking over jobs, he noted

Congresspeople have called for a federal investigation into the role Goldman Sachs, $GS, played in the collapse of Silicon Valley Bank

Congresspeople have called for a federal investigation into the role Goldman Sachs, $GS, played in the collapse of Silicon Valley Bank, and urged regulators to examine whether the profits handling a $21 billion trade for Silicon Valley bank should be repossessed. “As Goldman Sachs is poised to profit from SVB’

Credit Suisse Chairman says "last autumn we had a social media storm" which contributed to credit suisse downfall

A reporter asks Credit Suisse, $CS, Chairman Axel Lehmann: "Who is responsible for this disaster? He says: "... last autumn we had a social media storm." See full video: https://twitter.com/unusual_whales/status/1637635317711904768 Today, UBS has agreed to buy Credit Suisse, $CS. Credit Suisse, $CS,

US Fed says Fed and central banks of England, Canada, Japan, ECB and Switzerland announce coordinated action to enhance the provision of liquidity via the standing USD liquidity swap lines

US Fed says Fed and central banks of England, Canada, Japan, ECB and Switzerland announce coordinated action to enhance the provision of liquidity via the standing USD liquidity swap lines. Their full statement: he Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the

UBS has agreed to buy Credit Suisse, $CS

UBS has agreed to buy Credit Suisse, $CS. Credit Suisse, $CS, holders will get 1 UBS share for every 22.48 $CS shares, per Reuters. Meanwhile, about 16 billion Swiss francs ($17.3 billion) of Credit Suisse, $CS, bonds have become worthless after takeover by UBS, per Bloomberg. The deal

Senator Elizabeth Warren says about 2 million people will lose their jobs as a result of the Fed’s anticipated monetary tightening

Senator Elizabeth Warren says about 2 million people will lose their jobs as a result of the Fed’s anticipated monetary tightening. Full text: Senator Elizabeth Warren: Thank you, Mr. Chairman. The Fed has raised interest rates eight times over the last year in what has been the most extreme

Sharon Stone says she lost half my money in Silicon Vally Bank

Sharon Stone breaks down in tears on March 17, saying she “lost half my money to this banking thing,” presumably referring to Silicon Valley Bank collapse, per Chris Gardner. “This is not an easy time for any of us.” See full video: https://twitter.com/unusual_whales/status/1637461673635385344 Before

Credit Suisse, $CS, holders will get 1 UBS share for every 22.48 $CS shares

Credit Suisse, $CS, holders will get 1 UBS share for every 22.48 $CS shares, per Reuters. Meanwhile, about 16 billion Swiss francs ($17.3 billion) of Credit Suisse, $CS, bonds have become worthless after takeover by UBS, per Bloomberg. The deal will trigger a “complete write-down” of the bank’

16 billion Swiss francs ($17.3 billion) of Credit Suisse, CS, bonds have become worthless after takeover by UBS

About 16 billion Swiss francs ($17.3 billion) of Credit Suisse, $CS, bonds have become worthless after takeover by UBS, per Bloomberg. The deal will trigger a “complete write-down” of the bank’s additional tier 1 bonds in order to increase core capital, Swiss financial regulator FINMA said. The bank’

UBS has bought Credit Suisse

UBS has bought Credit Suisse. The SNB has provided this statement: Swiss president has said the takeover of Credit Suisse by UBS is the best solution to provide confidence in the Swiss financial centre.

Silicon Vally Bank UK handed out over $18 million in executive bonuses days after HSBC rescued it, and were not regularly scheduled

Silicon Vally Bank UK handed out over $18 million in executive bonuses days after HSBC rescued it, and were not regularly scheduled, per SkyNews. Sky cited sources familiar with the matter as saying the bonus pool was "modest" at 15 million to 20 million pounds, per Reuters. "

Signature Bank music vidoes

Signature Bank made numerous music videos before it was shut down by State authorities. The music video literally says: "If we only knew, what the future holds, after 2008, we could be real bold." Signature Bank, $SBNY, was been closed by State authorities March 12. The Fed said

Ken Griffin has said his firms are in the process of negotiating an enterprise-wide license to use OpenAI’s ChatGPT tool

Ken Griffin, billionaire founder of Citadel, said his firms are in the process of negotiating an enterprise-wide license to use OpenAI’s ChatGPT tool. “This branch of technology has real impact on our business,” he said. “Everything from helping our developers write better code to translating software between languages to