How is Chainlink’s price holding up a week after crypto market’s crash?

The post Zions Bancorporation lost nearly $1 billion in market value after revealing a $50 million fraud‑linked loan loss appeared on BitcoinEthereumNews.com. Zions Bancorporation got hit hard on Thursday after admitting a massive $50 million fraud‑linked loss, dragging its market value down by nearly $1 billion in a single day. The bank revealed in an SEC filing that $60 million in loans were effectively unrecoverable, sparking a 13% plunge in its stock and triggering a broader selloff across regional banks. The Dow Jones dropped 300 points, and investors immediately started questioning what else could be rotting inside balance sheets across the sector. The tangled mess started years ago. Between 2016 and 2017, California Bank & Trust (CB&T), a unit under Zions, approved credit facilities to two investment vehicles, Cantor Group II and Cantor Group IV, with the understanding that they would use the cash to buy up distressed mortgage assets. But what Zions didn’t know at the time was that the borrowers were allegedly cooking up something very different behind closed doors. Borrowers eliminated collateral and subordinated the bank’s loans Zions filed a lawsuit on Wednesday in Los Angeles County, taking aim at Andrew Stupin, Gerald Marcil, and Deba Shyam, the people running the Cantor funds. The complaint accused them of staging a “sweeping betrayal of trust by sophisticated financial borrowers who abused CB&T’s confidence, manipulated loan structures for their own enrichment, and systematically eliminated the collateral protections that were supposed to secure the bank’s loans.” Zions said it had secured first-priority interest in the collateral when the deal was signed. But at some point, without informing the bank, the loan deeds were demoted, subordinated, and those same assets were either foreclosed, transferred, or simply removed from CB&T’s reach. That move effectively stripped Zions of any meaningful chance to recover its funds. Even more explosive, the bank said the new senior lenders who stepped in were the same individuals or affiliates tied…

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