With every major stakeholder in the Finance ecosystem keeping tabs with the events around First Republic Bank (FRC), Gemini Co-Founder and CEO, Cameron Winklevoss has slammed US banking regulators. Taking to his Twitter account, the vocal crypto leader and entrepreneur noted that the regulators are showing double standards with respect to their handling of the embattled First Republic Bank.

Recall that First Republic Bank has been facing deep liquidity crisis at the time Silicon Valley Bank and Signature Bank met their waterloos last month. Through the help of top banking giants, a $30 billion deposit was lodged into First Republic Bank to help it shore up its liquidity.

However, recent events that has seen the share price of the regional bank collapse by more than 65% since the start of the week has drawn more concerns from shareholders and depositors. As reportedly recently by Coingape, the US government has refused to bail out the ailing bank, further dragging down its liquidity crunch across the board.

(By Godfrey Benjamin)