While Bitcoin is playing a bull run and bear attack, another US based Bank has bitten the dust, this time it is San Francisco based First Republic Bank.

The Bank

First Republic Bank was established on February 5, 1985, and is a public company listed as FRC on the New York Stock Exchange. This bank has acquired multiple companies from 1998 to 2006 and has more than 7k employees.

The Crash

First Republic Bank had been in decline for some time, but all of a sudden its shares plummeted as if it were a scam. This incident recalled the fall of Luna.

Effect

Four major American banks—Silvergate, SVB, Signature, and Credit Sussie—were all collapsed ithis month. In order to prevent to avoid heavy destruction. Many organizations are selling their FRC shares even after incurring heavy losses.