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US Sen. Cynthia Lummis Criticizes Signature Bank Executive for Blaming Crypto for Its Downfall
16.5.2023
Sen. Cynthia Lummis said she found it disappointing that a former crypto-friendly Signature Bank executive is not taking the blame for the failed bank, while criticizing his wordiness about crypto.
The Wyoming Republican, who has advocated for crypto, questioned Signature Bank’s former Chairman...
Former Signature Bank Chairman Said the Bank Cut Back on Digital Asset Deposits in Wake of Volatility
16.5.2023
Crypto-friendly Signature Bank “significantly’ cut back on digital asset deposits in the wake of increased volatility and regulators' concerns at the end of last year, said the former chairman and co-founder of the now-shuttered bank.
“Unfortunately, a series of truly extraordinary...
Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’
7.5.2023
Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden...
US regional bank shares sink despite Fed calling banking system 'sound'
4.5.2023
PacWest Bancorp was the hardest hit bank after-hours on Wednesday, falling over 50% following a reported plan to explore strategic options
JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators
1.5.2023
On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable...
Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures
29.4.2023
On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC)...
Fed, NYDFS assess their supervisory performance after March’s big bank failures
28.4.2023
Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management
Signature Bank Failed Because of Mismanagement, Contagion, FDIC Report Says
28.4.2023
The federal banking regulator said Signature’s exposure to crypto industry deposits was also a contributing factor to its failure
First Mover Americas: Bitcoin Regains $29K
26.4.2023
The latest price moves in bitcoin (BTC) and crypto markets in context for April 26, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets
Multiple Silvergate lawsuits over alleged FTX ties combined by judge
20.4.2023
Plaintiffs seeking damages from Silvergate’s collapse have joined forces with their respective lawsuits
Blockchain Association files further FOIA requests over banking closures
17.4.2023
The crypto advocacy group wants clarity on recent regulatory action against digital asset-friendly banks
Onramp Launches First Spot Bitcoin Trust With Multi-Party Custody
14.4.2023
The company, based in Austin, Texas, says the new offering is the first bitcoin trust that takes advantage of Bitcoin’s multi-signature capability
New York Regulator Calls Crypto Theories Associated With Signature Bank Closure ‘Ludicrous’
7.4.2023
Adrienne A. Harris, the superintendent of New York’s Department of Financial Services, has branded as “ludicrous” the claims that the closure of Signature Bank was related to its crypto business. Harris insisted that the bank’s “high percentage of uninsured...
New York Finance Regulator Clarifies: Signature Bank Shutdown Unrelated to Crypto Activities – Bullish for the Industry?
6.4.2023
The idea that the closure of Signature Bank was in any way an attempt to target the crypto sector is “ludicrous,” the Superintendent of the New York Department of Financial Services (NYDFS) has said....
Read More: New York Finance Regulator Clarifies: Signature Bank Shutdown Unrelated to Crypto...
'Ludicrous' idea that Signature Bank's collapse was connected to crypto, says NYDFS head
5.4.2023
The superintendent of the New York Department of Financial Services reportedly dismissed claims the U.S. government was working to implement ‘Operation Choke Point 2.0’
USDC Boasted Transparency but It Didn't Help When Silicon Valley Bank Got Into Trouble
5.4.2023
The stablecoin offers greater transparency than competitors like Tether, but, unfortunately, that proved of little value as it was de-pegged during the recent banking crisis, says JP Koning
NYDFS Chief Dismisses 'Choke Point 2.0' Theory of Signature’s Closure as 'Ludicrous'
5.4.2023
Signature Bank’s takeover last month was not a part of any so-called “Operation Choke Point 2.0,” according to Adrienne Harris, superintendent of the New York Department of Financial Services (NYDFS), who called the idea “ludicrous.”
Tether 'unequivocally reiterates' no exposure to Signature Bank
5.4.2023
The stablecoin provider denied the allegations that began to surface in regard to its exposure to the now-collapsed Signature Bank
Stablecoin issuer Tether accessed US banking system using Signature: Report
4.4.2023
At the time New York regulators took control of Signature in March, there was reportedly a system in place for Tether clients to send dollars though the bank's Signet platform
Tether Gained Access to U.S. Financial System Using Signature Bank: Bloomberg
4.4.2023
Tether CTO Paolo Ardoino, in response to the article, said the company has no exposure to Signature Bank