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Crypto firms turn to Swiss banks following Signature, Silvergate collapse

0xMain
March 22, 2023

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The collapse of Signature Bank and Silvergate Bank, two of the most crypto-friendly lenders in the U.S., has left many cryptocurrency firms in a state of uncertainty and desperation. As regulators crack down on banking institutions dealing with digital assets, in what industry...

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Coinbase suspends support for Signature Bank’s Signet payment service

0xMain
March 21, 2023

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Coinbase cryptocurrency exchange has told its customers that Signature Bank’s Signet payments solution will be suspended until further notice. Following the recent shutdown of Signature Bank, Brian Armstrong’s Coinbase crypto exchange has made it clear to its customers that Signet, the former’s real-time...

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Signature Bank to return crypto deposits to customers directly

0xMain
March 20, 2023

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On March 20, 2023, the Federal Deposit Insurance Corp. announced that Signature Bank’s related deposits would be returned directly to the customers, contrary to the notion that the New York Community Bancorp would handle them. The Federal Deposit Insurance Corp. said that Signature’s...

FDIC insists buyer of Signature Bank drop crypto operations

0xMain
March 16, 2023

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The federal deposit insurance corporation (FDIC) has demanded that the prospective buyer of New York-based Signature Bank relinquish all cryptocurrency operations, highlighting growing regulatory concerns around digital assets. The federal deposit insurance corporation (FDIC), a U.S. government agency responsible for protecting depositors, is...

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Signature bank was under criminal investigation ahead of closure

0xMain
March 15, 2023

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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 pose a threat to the stability of the entire financial system. The...

President Biden assures taxpayers SVB and Signature Bank losses contained

0xMain
March 13, 2023

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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 about their financial soundness. According to president Biden, U.S. taxpayers will not...