Another one bites the dust! The banking industry in the United States is in trouble, and regional banks are feeling the squeeze. A number of banks have failed recently due to mismanagement, poor risk management, and other factors which are leading to bailouts and buyouts from large players. They’re consolidating with larger banks faster than a college student cramming for exams. This trend not only affects the banking industry but also the wider economy, as access to credit is a crucial element for businesses and individuals to thrive.
The following opinion editorial was written by Bitcoin.com’s Business Development Manager Ben Friedman.
Consolidation can have negative impacts on the wider economy, as access to credit is an important factor for businesses and individuals to thrive. This trend has led to the consolidation of the banking industry, with a few large banks dominating the market. It’s like a game of Monopoly, but instead of getting a hotel on Boardwalk, you get to cont
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