3 / 4 Relevant items tagged with #SignatureBank

Posts

Fed, central banks enhance ‘swap lines’ to combat banking crisis

[Mar 19, 2023 7:47 PM] Currency swap lines have been used during times of crisis in the past, such as the 2008 global financial crisis and the 2020 coronavirus pandemic.

US Lawmaker Urges Government to Guarantee All Deposits to Avoid Runs on Smaller Banks

[Mar 19, 2023 7:30 PM] A U.S. congressman has urged the federal government to temporarily insure every bank deposit in the country. Following the collapses of several major banks, he stressed that if the government does not do this, there will be a run on smaller banks…

Signature Bank Non-Crypto Related Deposits to Be Assumed by New York Community Bancorp Unit: FDIC

[Mar 19, 2023 6:04 PM] The 40 former branches of Signature Bank will operate under New York Community Bancorp's Flagstar Bank, N.A., as of Monday.

Google Trends Data Reveals Searches for ‘Banking Crisis,’ ‘Bank Runs,’ Skyrocket

[Mar 19, 2023 11:30 AM] Interest in the U.S. banking crisis has risen greatly over the past two weeks, as shown by Google Trends data. There has been a sharp increase in queries related to search terms such as “banking crisis,” “bank collapse,” and…

U.S. Banking Cutoff Presents Opportunities for Crypto in Europe

[Mar 19, 2023 4:30 AM] U.S policymakers seem to be doing their best to suffocate dollar on-ramps into crypto, leaving the door open for other mature markets to gain a competitive edge.

Africa-Focused Fintech Chipper Cash Weighs Possible Sale of Business

[Mar 18, 2023 4:30 AM] One of Africa’s fintech giants, Chipper Cash, is said to be weighing the possibility of selling the business or bringing in new investors. According to the CEO of the FTX and Silicon Valley Bank-backed fintech startup, Chipper Cash had…

Bitcoin market cap grows 60% in 2023 as top Wall Street banks lose $100B

[Mar 18, 2023 2:05 AM] Bitcoin has decoupled from stocks and continues to rise 10 years after the Cyprus banking crisis coincided with a BTC price boom.

Undeterred by Fears of a Banking Crisis, ECB Raises Interest Rates by 50bps

[Mar 17, 2023 4:30 PM] The European Central Bank (ECB) has convened to raise three of its key interest rates by 50bps (0.5%), fueled by the persistence in the inflation numbers reported by the bloc. Christine Lagarde, president of the institution, stated that the banking…

Congress announces March 29 hearing into failures of SVB and Signature Bank

[Mar 17, 2023 3:59 PM] According to the House Financial Services Committee, it expects to hold multiple hearings on “getting to the bottom” of the banks’ failures.

‘Next Round of Bailouts Is Here’ — Bitcoin and Precious Metals Soar Amid Speculation of Fed Policy Change

[Mar 17, 2023 2:30 PM] At around 7:30 a.m. ET, the price of bitcoin skyrocketed past the $27,000 range to a high of $27,025 per unit. Precious metals, or PMs, like gold and silver, also rose between 1.98% and 2.12% against the U.S. dollar over the past day. While many…

Former NY Regulator: Crypto Isn't the Reason Why Signature Bank Was Closed

[Mar 17, 2023 12:59 PM] But instead, the firm did not provide reliable and consistent data, creating a significant crisis of confidence in the bank’s leadership, Maria Vullo, previously a superintendent at the government department, told CoinDesk TV’s “First Mover.”

This Crisis Will Define the Future of Money

[Mar 17, 2023 12:11 PM] The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly…

Crypto Biz: SVB collapses, USDC depegs, Bitcoin still up

[Mar 17, 2023 12:00 PM] Turmoil in traditional finance spilled over into Bitcoin and crypto markets, forcing federal regulators to step in.

How credible is the ‘Operation Chokepoint’ theory?

[Mar 17, 2023 11:33 AM] Silicon Valley Bank and Silvergate Bank were crucial to many in the cryptocurrency industry, and it’s fueling theories that regulators encouraged their downfall.

Banking crisis: What does it mean for crypto?

[Mar 17, 2023 11:00 AM] Cointelegraph breaks down the main events that led to the collapse of Silvergate, SVB and Signature Bank and explains what this all could mean for crypto.

Bitcoin Is a Clear Winner of the U.S. Banking Crisis

[Mar 17, 2023 9:26 AM] The narratives around bank failures, stablecoins and interest rate hikes seem strong enough to propel the price of bitcoin, says CoinDesk's George Kaloudis.

US Bank Outflows and Concerns Mount: 11 Banks Bail Out First Republic Bank From Collapse

[Mar 17, 2023 8:00 AM] After the fall of Silvergate Bank, Silicon Valley Bank (SVB), and Signature Bank (SNBY), First Republic Bank, a commercial bank and wealth management services provider, is the latest financial institution to receive a bailout. Close to a dozen…

US Senator: Signature Bank Collapsed Because It Embraced Crypto Customers Without Sufficient Safeguards

[Mar 16, 2023 7:30 PM] U.S. Senator Elizabeth Warren alleges that Signature Bank failed because it “bought into its get-rich-quick narrative” and “embraced crypto customers with insufficient safeguards.” Emphasizing that the bank took…

FDIC Denies Report Signature Bank Purchaser Must Divest Crypto

[Mar 16, 2023 7:09 PM] The Federal Deposit Insurance Corporation denied it would require any purchaser of Signature Bank to divest its crypto activities.

US lawmaker suggests Signature’s collapse was tied to instability of crypto

[Mar 16, 2023 4:00 PM] Senator Michael Bennet said crypto was not “even as stable as the marijuana industry,” questioning Signature Bank’s ability to service digital asset firms but not dispensaries.

Republican Congressman Tom Emmer Queries FDIC on Alleged Efforts to Purge Crypto Activity from US

[Mar 16, 2023 4:00 PM] 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…

Former FDIC Regulator: Friendliness Toward Crypto 'Does Not Exist'

[Mar 16, 2023 1:12 PM] 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

[Mar 16, 2023 12:00 PM] 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…

On the Brink of a New Trend: Credit Suisse Receives 50 Billion Swiss Franc Bailout From Swiss National Bank

[Mar 16, 2023 10:00 AM] Credit Suisse has experienced a loss of confidence in the financial institution’s health following a significant drop in its shares’ value this week. Over the past five days, Credit Suisse shares have fallen 24.34% against the U.S…

FDIC asked Signature buyers to stop all crypto business: Report

[Mar 16, 2023 3:10 AM] The FDIC regulators have reportedly required any buyer of Signature to agree to give up all cryptocurrency business at the bank.

Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White

[Mar 15, 2023 3:49 PM] Speaking at the SXSW conference in Austin, Molly White compared crypto companies' current predicament to that in 2017 and 2018, when they had “trouble accessing banking”.

Senator Warren says Fed chair 'has to recuse himself' from reviewing regulatory failures

[Mar 15, 2023 2:30 PM] Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve's supervision and regulatory activities following Silicon Valley Bank's closure.

US lawmaker accuses FDIC of using banking instability to attack crypto

[Mar 15, 2023 11:14 AM] 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

[Mar 14, 2023 10:47 PM] It's unclear whether Anchorage Digital’s layoffs relate to the current turmoil in the U.S. banking sector.

Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator

[Mar 14, 2023 7:30 PM] The decision to close down Signature Bank had “nothing to do with crypto,” said the New York State Department of Financial Services, the regulator that took possession of the troubled bank on Sunday. The financial watchdog insisted that…