🚨 Deutsche Bank Raided: Abramovich "Ghost" Haunts the Headlines
While the crypto market is buzzing about ETFs, Europe's banking sector is singing an old tune: Deutsche Bank is back under scrutiny.
📍 What Happened?
Offices in Frankfurt and Berlin were searched. Bloomberg reports that prosecutors are investigating potential money laundering cases linked to Roman Abramovich's companies (dating back to 2013–2018).
📉 Market Reaction:
The bank's shares ($DB) reacted instantly, falling by 4%. Investors are nervous, as the bank was just starting to rebuild its reputation after a series of past fines.
💡 Context and Reaction:
The timing of this news is significant, occurring shortly before the bank was expected to release its quarterly report. The raid and investigation have shifted the focus from the bank's financial performance to regulatory scrutiny.
Deutsche Bank has stated its full cooperation with the investigation, while representatives for Roman Abramovich have denied the allegations. The situation highlights ongoing regulatory challenges within the traditional financial sector.