BREAKING NEWS: Ginko Financial Converts Everyone’s Cash To Bonds

As reported yesterday, rumor was spreading that Ginko Financial was going to convert all deposits into Ginko Perpetual Bonds. At 10:20 PM last night, this was confirmed by the bank, via an announcement on their website.”we have concluded that the only way forward from this is to convert, compulsorily, all customer deposits into a tradeable debt security called Ginko Perpetual Bonds.” - Official Ginko Announcement.

However, by the looks of it, Ginko has not closed permanently. “Ginko Financial will bounce back from this” gives them the oppourtunity to re-open when they feel the time is right.