Celsius recently confirmed that its cash deposits with Signature Bank are secured. The bankrupt crypto lender is trying to transfer its funds to other authorized depositaries. Popular Celsius creditor...
Tag: Signature
FDIC Takes Control: SVB and Signature Bank Assets In Question Amid Crypto Market Rally
In a joint statement released by the US Treasury, Federal Reserve, and the Federal Deposit Insurance Corporation (FDIC), it was announced that the FDIC has taken control of the assets of both Silicon ...
Signature Bank was solvent – Did regulators act to sink…
Labelled the third-biggest ‘bank failure’ in history, Signature bank was actually solvent when taken over by regulators on Sunday. Did regulators seize their chance to cut off crypto banking? Crypto l...
Why More Trouble Is Coming Following SVB And Signature Bank Collapse
The sudden, sensational collapse of Silicon Valley Bank and then another big bank’s failing over the weekend have hit financial markets like an earthquake. These institutions made their particular mis...
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 ...
Biden pledges ‘no cost to the taxpayer’ to shield SVB, Signature depositors
The overnight collapse of two major traditional banks — Silicon Valley Bank (SVB) and Signature Bank — triggered a series of events that impacted millions of businesses, venture capitalists and bottom...
NYDFS Taking Over Signature Bank as SVB Fails
The decision to take over Signature Bank was made to reduce depositor outflows and prevent further bank runs. The New York Department of Financial Services (NYDFS) has taken over the crypto-friendly b...
‘Signature’ Fall of Crypto Bank In-line With SVB and Silvergate
Signature Bank was among the top banking institutions known to serve crypto entities. Dramatically, it met a similar fate as its counterpart Silvergate Bank Silicon Valley Bank. Both the crypto-friend...
Signature Bank Shutdown Was Politically Motivated, Says Expert
One of the Dodd-Frank Act drafters, Barney Frank, said regulators shut Signature Bank down to send an anti-crypto message. In shocking revelations, Frank told CNBC that there was “no real objective re...
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 ...
Deposits held at Signature Bank are secure and available
Crypto mining firm Marathon Digital Holdings has assured investors that the firm’s cash deposits at Signature Bank are secure and available for use as of Mar. 13. In a statement following the cl...
Signature Bank Shareholders Lose Everything As Regulator Shuts It Down — Just Days After Silicon Valley Bank Collapse
A branch of Signature Bank is photographed, late Sunday, March 12, 2023, in New York. Regulators … [+] announced that the New York-based bank had failed and was being seized. At more than $110 b...
The Big Scandal Behind Pro-Crypto Signature Bank Shutdown
Signature Bank, another major crypto-friendly institution, was shut down by regulators on Sunday. The New York financial institution, with a large lending business in the crypto industry, was caught i...
Bank Bailouts—What They Are And Why Some Experts Say Signature Bank And SVB Didn’t Get One
Topline Silicon Valley Bank and Signature Bank collapsed over the weekend in an uncanny echo of the 2008 financial crisis, and though many experts note the Treasury Department’s plan to save dep...
Was Signature Bank Intentionally Shut Down To Kill Crypto’s Last Major Banking Hope?
According to reports, customers of Signature Bank withdrew more than $10 billion in deposits on Friday after being alarmed by the sudden failure of Silicon Valley Bank. As a result, the run on deposit...
BlockTower Capital Funds Had Exposure to Silvergate, Signature Bank
According to the Form ADV Filing dated May 11, 2022, the BlockTower Blue Signum SPV fund, which had about $4.6 million in gross asset value at the time of the filing, used Silvergate Bank as its sole ...
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...
Crypto Firms Report Funds Tied Up with Shuttered Signature Bank
On March 12, New York regulators and the United States Federal Deposit Insurance Corporation shut down Signature Bank, a crypto-friendly bank that had reportedly become a systemic risk to the US econo...
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 ...
US regulators shut down Signature Bank despite ‘no insolvency’: Report
Barney Frank, a former member of the United States House of Representatives, has reportedly suggested New York regulators closed the crypto-friendly Signature Bank as part of a seeming show of force. ...
Gemini says no funds at Signature Bank backing GUSD
Crypto exchange Gemini had no funds at Signature Bank, and its Gemini US Dollar (GUSD) stablecoin was not backed by any deposits at the failed bank, according to a March 13 official tweet from the com...
What Happened To Signature Bank? The Latest Bank Failure Marks Third Largest In History
Topline Signature Bank, a New York-based regional bank that became a leader in cryptocurrency lending, shuttered suddenly on Sunday, marking the third-biggest bank failure in U.S. history just two day...
Regulators shuttered Signature Bank to show ‘crypto is toxic’
Crypto panic sparked a deposit run on Signature Bank, former Rep. Barney Frank said, but he argues that the bank had already stabilized before New York state regulators stepped in to close the crypto-...
Okcoin Halts U.S. Dollar Deposits After Signature Bank Shutdown
Okcoin, the U.S. affiliate of cryptocurrency exchange OKX, announced on March 13 that it had no exposure to defunct U.S. tech bank Silicon Valley Bank (SVB). However, Okcoin CEO Hong Fang stated that ...
OKCoin pauses USD deposits following Signature Bank collapse
Crypto exchange OKCoin has halted U.S. dollar wire deposits in response to Signature Bank’s collapse while adding that the company had zero exposure to Silicon Valley Bank (SVB). OKCoin reacts to Sign...
President Biden assures taxpayers SVB and Signature Bank losses contained
President Biden has assured the senate banking committee that taxpayers will not bear the brunt of any potential losses incurred by SVB Financial Group and Signature Bank, in response to concerns abou...
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 ...
President Biden Calls for Stronger Bank Regulations in Wake of SVB, Signature Bank Collapses
“We must get the full accounting of what happened and why those responsible can be held accountable,” Biden said. “In my administration, no one – no one is above the law. And finally, we must reduce t...
Three Major Crypto Firms are Victims of Signature Bank Debacle
Signature Bank has been shut down by the New York Department of Financial Services. Crypto firms like Coinbase, Celsius, and Paxos revealed their exposures to Signature Bank. The fall of Signature Ban...