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FDIC Denies Report Signature Bank Purchaser Must Divest Crypto
17.3.2023
The Federal Deposit Insurance Corporation denied it would require any purchaser of Signature Bank to divest its crypto activities
Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US
16.3.2023
On Wednesday, Tom Emmer, the U.S. Republican congressman from Minnesota, revealed he sent a letter to Martin Gruenberg, the chairman of the Federal Deposit Insurance Corporation (FDIC), regarding reports that the FDIC is “weaponizing recent instability” in the U.S. banking industry to “purge legal...
U.S. Banking Collapse Doesn't Necessarily Make Crypto Trustworthy
16.3.2023
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Former FDIC Regulator: Friendliness Toward Crypto 'Does Not Exist'
16.3.2023
Jason Brett said despite regulators using the failure of three banks to target crypto, the industry itself is not in a crisis
Report: US Government Auctions Off Failed Banks SVB and SNBY, Crypto Restrictions Apply
16.3.2023
The U.S. government and the Federal Deposit Insurance Corporation (FDIC) are auctioning off two failed American financial institutions, Silicon Valley Bank (SVB) and Signature Bank (SNBY), this week, with bids due by March 17. However, sources familiar with the matter said the qualifications...
Blockchain Association seeks info from Fed, FDIC, and OCC on 'de-banking' crypto firms
16.3.2023
The association submitted Freedom of Information Act requests as part of an investigation into how regulators’ actions “improperly contributed” to the collapse of three banks
FDIC asked Signature buyers to stop all crypto business: Report
16.3.2023
The FDIC regulators have reportedly required any buyer of Signature to agree to give up all cryptocurrency business at the bank
Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: Report
16.3.2023
The Federal Deposit Insurance Corporation (FDIC) has reportedly asked banks interested in acquiring the shuttered New York institution to submit bids by Friday
Bitfury CEO: U.S. Government Using Crisis to Choke Off Crypto Access to Banks
15.3.2023
Brian Brooks, former head of the OCC and now board member of blockchain technology company Bitfury, says the recent crackdown by regulators on three crypto-friendly banks appears to be a coordinated effort and what some are dubbing "Operation Choke Point 2.0"
US lawmaker accuses FDIC of using banking instability to attack crypto
15.3.2023
The collapse of Signature Bank, Silicon Valley Bank, and Silvergate Bank has had many in the space reeling — but is the U.S. government trying to "choke off digital assets”?
Crypto bank Anchorage Digital cuts 20% of staff citing regulatory uncertainty
15.3.2023
It's unclear whether Anchorage Digital’s layoffs relate to the current turmoil in the U.S. banking sector
U.S. DOJ Was Investigating Signature Bank's Work With Crypto Clients: Bloomberg
15.3.2023
Prosecutors were looking at the crypto-friendly bank before regulators seized it, people familiar told Bloomberg
Moody’s Downgrades US Banking Sector to Negative After Collapse of Three Major Banks
14.3.2023
After the failure of three major U.S. banks last week, with two of them being the second and third largest banking failures in the country, Moody’s Investors Service has downgraded the rating of the U.S. banking system from “stable” to “negative.” As one of...
Federal Investigators Probe Silicon Valley Bank Collapse; SVB and Top Execs Sued by Shareholders
14.3.2023
The parent company of Silicon Valley Bank, SVB Financial Group, and two senior executives have been sued by shareholders after SVB’s collapse last Friday. The proposed class action accuses SVB of hiding the fact that interest rate hikes would leave the bank in jeopardy. Additionally...
Signature Bank’s Signet Platform Still Works, But Some Clients Have Moved On
14.3.2023
A source told CoinDesk the real-time payments platform, popular with crypto businesses, will continue to be offered under the newly established Signature Bridge Bank entity
FDIC to attempt another auction of Silicon Valley Bank: Report
14.3.2023
Regulators are planning another auction for Silicon Valley Bank after the previous attempt to find a new owner failed
Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure
13.3.2023
Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong...
USDC's 'Black Swan' Depegging Could Have Been Avoided With Proper Regulatory Framework
13.3.2023
Fissures among the progressive left are primarily responsible for the lack of U.S. regulatory progress around stablecoins, says John Rizzo, senior vice president for public affairs at Clyde Group
Circle Partners With Cross River Bank, Handful of US ‘Crypto-Friendly’ Banks Remain; Okcoin Suspends USD Deposits
13.3.2023
Circle Financial, the issuer of the stablecoin USDC, is partnering with Cross River Bank after its former settlement partner, Signature Bank, was closed by New York regulators, according to a statement from CEO Jeremy Allaire. “The 1:1 redeemability of all USDC in circulation is of paramount...
FDIC Planning to Try Auctioning Silicon Valley Bank Again: WSJ
13.3.2023
The designation of SVB’s failure as a potential systemic threat gives the FDIC more options to sell the bank