According to the regulatory body, the latest shutdown of the Signature Bank is not related to its cryptocurrency dealings. NYDFS Denies Crypto Connection On March 14, the regulator responsible for t...
Tag: Closure
Signature Bank Reportedly Under Money Laundering Probe Before Closure
Signature Bank is facing scrutiny from the U.S. Department of Justice over potential shortcomings in its efforts to thwart money laundering, according to insiders familiar with the matter cited in a B...
Signature bank was under criminal investigation ahead of closure
The US prosecutors were looking into Signature Bank’s dealings with crypto clients when regulators abruptly shut down the institution on March 12. The regulators said that keeping the bank open would ...
Signature Bank Closure Has Nothing to Do With Crypto, Says Regulator – Finance Bitcoin News
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. ...
Signature Bank Closure is a Signal for Crypto Market, says Frank
Signature Bank collapsed on Monday morning, after which Barney Frank says regulators shut down the bank to send “a strong anti-crypto message.” In the last 4 days, this was the second US bank collapse...
Signature Bank Closure Not Due To Crypto Link: New York Officials
Signature Bank News: After former member of the U.S. House of Representatives Barney Frank said Signature Bank was targeted due to its links with the crypto market, there is a counter argument to it. ...
Depositors Flock to JPMorgan & Citi After SVB, Signature Closure
With the demise of Silicon Valley Bank and Signature, customers are flocking to major US banks like JPMorgan and Citigroup to transfer money from smaller lenders. According to executives cited by The ...
Crypto Firms Announce Funds Caught in Signature Bank Closure
Coinbase announced that it had about $240 million in corporate funds at Signature Bank, but expects a full recovery of all its funds. Several crypto firms, including Paxos, have disclosed their level ...
Crypto-friendly banks closure could pose a challenge for crypto companies
The closure of three major crypto-friendly banks in the US, Signature Bank, Silicon Valley Bank, and Silvergate Bank, has sent shockwaves across the digital asset industry. According to some in the cr...
Signature Bank closure highlights benefits of holding Bitcoin, says Marathon Digital
Ad Bitcoin (BTC) miner Marathon Digital said its funds held at Signature Bank are safe and available for use despite the closure of the bank. In a March 13 statement, the BTC said $142 million in cas...
Signature Bank Closure, Strike Three For Crypto Banking Industry
Another setback for digital assets, as a lender Signature Bank was closed by US regulators to circumvent the banking crisis. The United States Treasury Department said on Sunday, March 12, 2023, that ...
Cryptocurrency Community Debates Fallout from Closure of Major American Banks
The closure of three major American banks that serve cryptocurrency firms has sent shockwaves through the broader cryptocurrency community. Silicon Valley Bank (SVB), which has traditionally served st...
Okcoin suspends USD deposits in wake of Signature Bank closure
According to a March 13 tweet by Okcoin CEO Hong Fang, the U.S. affiliate of cryptocurrency exchange OKX had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Fong stated that ...
Coinbase lost $240M in Signature Bank closure
Ad Leading crypto exchange Coinbase disclosed it lost around $240 million in Signature Bank shut-down on Mar. 12. Paxos and Celsius also announced they lost money in the Sunday Signature Bank shutdown...
BCB Group pauses US dollar payments pilot after Signature Bank closure
BCB Group, a London-based provider of payment services and business accounts for crypto firms, halted a planned U.S. dollar payments program after regulators shut down Signature Bank earlier today. &#...
Signature Bank Closure Deals Another Blow to Crypto Industry
(Bloomberg) — The closure of Signature Bank, a lender that counted a number of crypto companies as customers, marks another major setback for digital assets as the industry becomes ever more cut...
Investors Rally to Support Silicon Valley Bank Amidst Possible Closure
Silicon Valley Bank (SVB) has been a major player in the tech industry for over 40 years, providing banking and funding services to countless startups and established companies alike. However, recent ...
Etsy freezes transactions after Silicon Valley Bank closure, squeezing sellers nationwide
The collapse of start-up backer Silicon Valley Bank this week continues to cause ripples across the tech industry, with Etsy the latest company to voice concerns after announcing a transaction freeze....
SVB closure spurs a crypto crisis: Coinbase and Binance suspend USDC conversions
Just a day after covering Silicon Valley Bank stock (NASDAQ: SIVB) 60% dip after it announced it was raising funds to cover a loss it made after selling securities at a loss, the SVB closure is causin...
CertiK reports closure of ‘Monkey Drainer’ scam
CertiK Alert, a blockchain security firm, has reported the closure of a notorious phishing scam operation known as the “Monkey Drainer.” According to the report, the Monkey Drainer was run by an indiv...
Solana Spaces Founder Announces Closure of Retail Stores
5 hours ago | 2 mins read Altcoin News Norby had launched Solana Spaces in the first half of 2022. The two shops debuted in late July and early August in New York and Miami. The two Solana shops will ...
Planet Hollywood Reports $8 Million Revenue Before Closure At Disneyland Paris
Planet Hollywood in the Disney Village at Disneyland Paris (Photo by Pascal Le Segretain/Getty … [+] Images) Getty Images Themed restaurant operator Planet Hollywood has revealed that its outlet...
Mulberry Slams “Unviable” London, Blames Tax For Bond Street Closure
Britsh brand Mulberry has announced that it is to vacate its Bond Street store. (Photo by David M. … [+] Benett/Dave Benett/Getty Images for Mulberry) Dave Benett/Getty Images for Mulberry U.K. ...
DeFi Platform Friktion Announces Closure of User Interface
Defi News Friktion is encouraging consumers to remove their money from the protocol. Nonetheless, the underlying protocol will continue to be available on-chain. According to a statement released on J...
Wyre CEO Moves To Quell Closure Rumors
Join Our Telegram channel to stay up to date on breaking news coverage Crypto Payments Company Wyre CEO Loannis Giannaros has downplayed claims that his company is planning to shut down operations thi...
Vader Protocol Announces Closure of Algorithmic Stablecoin USDV
Altcoin News The Vader team suspended the app’s minting functionality in May. The burn feature has been temporarily disabled. There will be no further releases of the app that generates the stablecoin...
FTX Bankruptcy Sees Midas Investments Announce Closure
On Tuesday, Midas Investments announced its sudden closure in a blog by its CEO Iakov “Trevor” Levin. As a result of significant losses in 2022, the platform that focused on DeFi yields is closing its...
Midas reveals $60M deficit, announces closure of operations
Crypto platform Midas Investment will shut operations because of the significant losses it incurred in 2022, according to a Dec. 27 statement. CEO Iakov “Trevor” Levin said the Midas DeFi Portfolio lo...
US-based crypto exchange BITFRONT announces closure
BITFRONT, the crypto exchange based out of Palo Alto, California, has announced that it will cease all operations towards the end of the year. The exchange was initially launched as BITBOX in Singapor...
Crypto Exchange Bitfront Announces Closure by Year End
Line made it clear that the FTX scandal had nothing to do with their move. Bitfront will shut down its services somewhere in December. In order to devote more resources to its other blockchain endeavo...