Signature
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The chair acknowledged his agency’s shortcomings in acting sooner to curb the crisis spreading throughout Signature’s operations
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Crypto regulation advocacy group hires slate of four to fill senior and research positions
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Silvergate had more than 90% of deposits coming from crypto clients, while Signature Bank had only 20%, a report found
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38% of crypto holders surveyed by Morning Consult said that they’re turning to cold wallets, up from 24% last year
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In Hong Kong, a major digital bank is opening up to crypto by allowing traders and investors to withdraw fiat currencies from exchanges
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Former investors in Signature Bank allege that the bank undermined “the health of its balance sheet” by failing to acknowledge its “degree of concentration” in the cryptocurrency sector
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Calls are growing for transparency over how the FDIC assumed control of crypto-friendly banks Signature and Silicon Valley Bank
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An estimated $4 billion in cryptoassets will remain under the receivership of the FDIC
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Bitcoin was introduced to the world right after the 2008 financial crash, and fifteen years later, we’re witnessing anew the failure of reserve banking and a debt-based system
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Potential acquirers of Signature will tell the FDIC what assets and liabilities they’re willing to take from the bank, the FDIC representative added
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The comments counter former Rep. Barney Frank’s assertion that Signature’s collapse is due to crypto
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The falls of Silvergate, Silicon Valley Bank and Signature have left the crypto banking segment in flux, industry watchers say, though other options exist
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In a short speech, Biden told Americans their money is safe and executives will be held accountable
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Taxpayers will not be forced to bail out either bank, as Signature is added to the list of failures
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Silvergate execs managed to time the top of the bull market pretty well — as did insiders at other major crypto firms
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With regulatory headwinds, US banks are probably not making payments systems a priority
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Silvergate’s share price “moved in line” with bitcoin’s performance for “most of 2021-22,” according to Kaiko analysts
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Crypto bank Signature has told Binance it would no longer be servicing customer transactions via SWIFT below a $100,000 threshold come February
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Collapsing cryptocurrency prices have sent short sellers on a frenzy, and they’re targeting some of digital assets’ biggest companies
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