2 / 4 Relevant items tagged with #SignatureBank

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While Biden and Trump Blame Each Other for Bank Failures, Others Believe the Cause Might Be a Management Issue

[Mar 30, 2023 4:30 AM] The recent banking failures involving the fall of Silicon Valley Bank (SVB), Signature Bank, and Silvergate Bank, have high-profile government individuals trying to find a culprit. U.S. President Joe Biden and former President Donald Trump have…

FDIC plans to return $4B in Signature crypto deposits 'by early next week' — Martin Gruenberg

[Mar 29, 2023 3:00 PM] The Treasury Department's Under Secretary for Domestic Finance Nellie Liang said at the same hearing she didn’t believe crypto “played a direct role” in the failure of the banks.

That Binance Suit Sure Seems Bigger Than Just a CFTC Case

[Mar 29, 2023 2:09 PM] Between Coinbase, Binance, Justin Sun, Do Kwon and Custodia, there has been just so much news over the last week. And that’s largely just the U.S. But Binance is the most interesting, not only for what happened (the Commodity Futures Trading…

Senate Banking Committee Holds Hearing on Recent Bank Collapses, Calls for Tougher Regulations

[Mar 29, 2023 2:00 PM] On Tuesday, the U.S. Senate Committee on Banking, Housing, and Urban Affairs, also known as the Senate Banking Committee, held a hearing to discuss the recent bank collapses in the United States and the regulatory response. Throughout the…

Top U.S. Treasury Official Says Crypto Had No ‘Direct Role’ In Bank Failures

[Mar 29, 2023 1:19 PM] Nellie Liang, the U.S. Treasury Department's undersecretary for domestic finance, doesn’t believe that the digital assets sector should be blamed for the runs on Silicon Valley Bank (SVB) and Signature Bank that led to their quick demise earlier…

The Short-Sightedness of Run-Amok Regulators

[Mar 29, 2023 10:44 AM] Ric Edelman, founder of the Digital Assets Council of Financial Professionals, talks about a key reason why crypto’s future looks bleaker: an apparent effort to cut it off from U.S. banks.

Stablecoins are solution to crypto’s banking problem, exec says

[Mar 29, 2023 6:30 AM] Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues.

FDIC Gives Deadline Next Week for Crypto Depositors Stranded by Signature Failure

[Mar 28, 2023 4:07 PM] The Federal Deposit Insurance Corp. (FDIC) is trying to hurry the stranded crypto customers out the door of the temporary entity that holds the assets of the former Signature Bank, asking them to cash out by next week – whether they have a new bank…

Law Firm’s White Paper Claims US Bank Regulators Are Waging a ‘Clandestine Financial War’ Against Crypto Businesses

[Mar 28, 2023 4:00 PM] According to a recent white paper published by four members of the law firm Cooper & Kirk, PLLC, U.S. bank regulators are attempting to “drive crypto businesses out of the financial system.” The paper, titled “Operation…

First Citizens Bank Acquires Silicon Valley Bank, Costing FDIC Deposit Insurance Fund an Estimated $20B

[Mar 27, 2023 2:30 PM] According to the Federal Deposit Insurance Corporation (FDIC), the troubled bank Silicon Valley Bank (SVB) was acquired by First Citizens Bank & Trust Company, which is based in Raleigh, North Carolina. First Citizens acquired all deposits and…

U.S. Bank Regulators Investigating Leaders of the Failed Tech Banks

[Mar 27, 2023 12:46 PM] The Federal Deposit Insurance Corp. is investigating the actions of the leaders of Signature Bank and Silicon Valley Bank to hold them accountable for their collapses, said Chairman Martin Gruenberg, who detailed their mismanagement and dangerous…

Why This Economics Professor Thinks Bitcoin Is Worthless

[Mar 27, 2023 4:02 AM] Steve Hanke, a professor of Applied Economics at Johns Hopkins University, is the latest scholar to trash Bitcoin. Bitcoin Has No Fundamental Value, Says Professor In a tweet on March 26, Hanke said Bitcoin is not a currency but a speculative asset…

A Look at the Fed’s Recent Custodia Bank Denial and the Central Bank’s Push Back Against Narrow Banking

[Mar 26, 2023 10:30 PM] Over the past century, the number of American banks has significantly decreased, dropping from 30,000 banks in 1921 to 4,997 U.S. banks in 2021, according to data from the Federal Reserve. Recently, the U.S. central bank denied Custodia Bank of…

Treasury Secretary Yellen Holds Unscheduled Meeting With Top Financial Regulators Amid Turmoil in Banking Sector

[Mar 24, 2023 11:30 AM] U.S. Treasury secretary Janet Yellen initiated an unscheduled Financial Stability Oversight Council (FSOC) meeting with the country’s top financial regulators on Friday amid issues plaguing the U.S. banking sector. Banking stocks and all four U.S…

Bank Consolidation Threatens Freedom, Makes Case for Bitcoin

[Mar 24, 2023 11:13 AM] The biggest threat from the banking crisis triggered by this month’s collapse of Silicon Valley Bank might not lie in the potential for depositors to lose their savings but in the censorship power that massive banks are now accumulating as…

Crypto Is the Solution to Bank Runs, Not the Cause

[Mar 23, 2023 6:45 AM] Self-custody, transparency and immediate settlement are just a few ways that crypto could prevent loss of funds.

Bitcoin Emerges as Safe Haven as Traditional Finance Faces Turmoil

[Mar 22, 2023 11:40 AM] Conflicting data creates the question of how the Fed will react to both rising inflation and failing banks - and whether bitcoin will be a lifeboat.

Traditional banks rely on ‘tiny buffer’: Paris Blockchain Week 2023

[Mar 22, 2023 8:28 AM] Signature Bank is the best place for crypto banking, even if it goes bankrupt, Woorton co-founder Zahreddine Touag believes.

Looking at Some Unanswered Signature and Silvergate Bank Questions

[Mar 21, 2023 5:55 PM] It seems the crypto industry still has some questions about Signature and Silvergate’s shutdowns.

Yellen defends government intervention to avoid another SVB

[Mar 21, 2023 7:33 AM] The Treasury Secretary of the U.S. Janet Yellen said the federal government will intervene if it is necessary to protect other small lenders.

US exploring ways to guarantee the country’s 18T of bank deposits: Report

[Mar 20, 2023 11:57 PM] The current deposit insurance cap under the FDIC is $250,000, but recent banking collapses have seen calls to increase that amount.

Flagstar Bank Acquires Signature Bank’s Assets and Branches, Excluding Cryptocurrency Operations

[Mar 20, 2023 3:30 PM] On Monday, about a week after the collapse of Signature Bank, the Federal Deposit Insurance Corporation (FDIC) announced that Flagstar Bank, a wholly owned subsidiary of New York Community Bancorp, acquired 40 former branches of Signature and its…

Coinbase pauses support for Signature Bank’s Signet: Report

[Mar 20, 2023 3:00 PM] The U.S. crypto exchange was reportedly looking for another payment network provider and waiting on the outcome of the situation with Signature.

In the aftermath of banks’ horrorshow: Law Decoded, March 13–20.

[Mar 20, 2023 2:30 PM] A week after the twinning collapse of Silicon Valley Bank (SVB) and Signature Bank, and the trouble at Credit Suisse, the dust is slowly settling down.

Bank collapses are spurring interest in self-custody startups

[Mar 20, 2023 2:20 PM] The implosions of Signature Bank and Silicon Valley Bank are giving self-custody startups an opportunity to prosper.

Coinbase No Longer Supporting Signature Bank’s Signet Network: WSJ

[Mar 20, 2023 2:15 PM] The fate of Signet has been unclear since Signature Bank was shut down by New York State regulators last weekend.

First Republic Bank’s Shares Downgraded to Junk Status by S&P Global; Stock Slides More Than 25% Lower

[Mar 20, 2023 11:30 AM] After UBS acquired Credit Suisse and close to a dozen financial institutions injected $30 billion into First Republic Bank four days ago, S&P Global downgraded First Republic’s shares to junk status on Sunday. Investors are concerned that…

No Crypto Banking Port Has Really Opened Up in This U.S. Storm

[Mar 20, 2023 8:49 AM] The biggest U.S. banks have not stepped forward to welcome homeless crypto businesses scrambling for banking services after fleeing the wreckage of Silvergate Bank, Signature Bank and Silicon Valley Bank.

First Mover Americas: Bitcoin, as Safety Play, Climbs Past $28K

[Mar 20, 2023 6:18 AM] The latest price moves in bitcoin (BTC) and crypto markets in context for March 20, 2023. First Mover is CoinDesk’s daily newsletter that contextualizes the latest actions in the crypto markets.

FDIC sells Signature Bank deposits to Flagstar, crypto not included

[Mar 19, 2023 10:22 PM] The 40 branches of Signature Bank will officially reopen and operate as Flagstar Bank on March 20.