Key takeaways Crypto-friendly bank Signature Bank has been shut down by New York Banking authorities. The Federal Reserve said the decision was made to protect the US economy and strengthen public confidence in the banking […]
Signature’s sudden failure leaves a key part of the crypto industry’s backend infrastructure in limbo: Signet. It’s a blockchain-based real time payments system that’s supposed to work 24/7. Circle, Coinbase and many crypto trading firms […]
“Signature Bank is a New York state-chartered commercial bank and is FDIC-insured, with total assets of approximately $110.36 billion and total deposits of approximately $88.59 billion as of December 31, 2022,” Harris’ statement said. “DFS […]
“After receiving a recommendation from the boards of the FDIC and the Federal Reserve, and consulting with the President, Secretary Yellen approved actions enabling the FDIC to complete its resolution of Silicon Valley Bank, Santa […]
Ripple, currently engaged in a lawsuit with the Securities and Exchange Commission over the status of the cryptocurrency XRP, stored some of its cash reserves at the now-failed tech lender, Garlinghouse said. He declined to […]
More clinics are offering services to help crypto addiction. But how bad is this emerging problem? For years society has been increasingly concerned about gambling addiction, and rightly so. Gambling addiction is responsible for untold […]
Bitcoin Rises on Report Government Weighing Plan to Protect All Silicon Valley Bank Depositors Source link
“When news broke that Circle’s funds were stuck in Silicon Valley Bank, users rushed to redeem their USDC for USD,” Ignas said. “On Coinbase, users could redeem 1 USDC for $1.00, but Coinbase suspended conversions […]
According to Reuters, U.S. Treasury Secretary Janet Yellen confirmed that the failed Silicon Valley Bank (SVB) would get help from the government but ruled out a bailout for the bank. Reacting to calls for a government […]
Yellen sought to ease concerns that the bank’s collapse could lead to a domino effect. Source link
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