Signature Bank

Scott Shay and Greg Becker criticized for their congressional testimony The two executives were careful to shift the blame for the bank collapses onto "alarmists" and regulators Both received hefty bonuses shortly before the organizations collapsed Th ...

Circle, the issuer of the USDC stablecoin, has secured a replacement for Signature Bank's Signet platform, according to CEO Jeremy Allair. The service was used by USDC holders to transfer funds between fiat currencies and cryptocurrencies around the clock. However, it was closed in mid-March d ...

Metropolitan Commercial Bank, a leading public bank in the United States, announced its departure from the cryptocurrency business, citing a significant drop in digital currency deposits from $820 million to $275 million as of March 31. The bank, with a capitalization of ...

Kraken, the popular cryptocurrency exchange, has recently been granted a Virtual Asset Service Provider (VASP) license by the Central Bank of Ireland, the country's financial regulatory authority. According to the exchange's official blog, Kraken has registered its subsidiary, Payward Europe Solu ...

The US arm of Binance, a major cryptocurrency exchange, is facing difficulties in finding a bank to manage its customers' funds, according to the Wall Street Journal. Signature Bank and Silvergate Capital were previously used by Binance.US, but they have stopped working with the exchange. The ...

The superintendent in charge of the New York State Department of Financial Services (NYDFS) has dismissed claims that Signature bank's closure was related to its dealings with cryptocurrency companies, deeming such allegations as absurd. Adrienne A. Harris clarified that the actual reason for the ...

Tether Uses Signet to Transfer US Dollar Funds to Bahamas Banking Partner. According to recent reports, Tether, the issuer of USDT stablecoin, used Signet, the payment platform of Signature Bank, to transfer US dollar funds to its banking partner, Capital Union Bank, in the Bahamas. The transf ...

The FDIC, the U.S. Federal Deposit Insurance Corporation, has recently announced that customers of Signature Bank who hold cryptocurrency accounts have until April 5th to close their accounts and withdraw their funds. As of March 20th, Flagstar Bank has taken over the operation of 40 former Signa ...

Kraken Cryptocurrency Exchange Faces ACH Channel Challenges with Silvergate Bank Kraken, a major cryptocurrency exchange, has recently faced difficulties with its Automated Clearing House (ACH) deposit and withdrawal channel due to issues with its banking partner, Silvergate Bank. As a result, Kr ...

Coinbase, a well-known cryptocurrency exchange, recently announced that it has ceased supporting Signet, a digital payment platform owned by Signature Bank. This decision was made after US regulators shut down Signature Bank last week. Coinbase is now actively seeking a new technology provider, w ...

The US Federal Deposit Insurance Corporation (FDIC) recently announced the sale of Signature Bank's assets, with one notable exception: the cryptocurrency business. Effective March 20th, Flagstar Bank will operate the 40 former Signature branches, and Signature savers who were not involved in dig ...

Gemini's co-founder, Cameron Winklevoss, took to social media to express his reaction to the US Federal Reserve's recent announcement that it would be providing $300 billion from its holdings to cash-strapped banks. In a tweet, Winklevoss remarked that "The Fed's move has given everyone $300 bill ...

The Financial Services Commission of the US Congress's House of Representatives has set up hearings for March 29th to investigate the underlying causes behind the bankruptcies of Silicon Valley Bank and Signature Bank. The Blockchain Association, a pro-crypto lobbying group, has utilized the Free ...

During a recent US Senate Finance Committee meeting, Senator Michael Bennet of Colorado expressed his concern over banks that work with cryptocurrencies, citing the industry's extreme volatility as a reason for caution. Specifically, he referenced the recent failure of Signature Bank, suggesting ...

The FDIC, which is responsible for insuring bank deposits in the United States, has refuted recent claims that it is demanding prospective buyers of Signature Bank to completely relinquish the bank's cryptocurrency-related business. According to reports from Reuters, which relied on anonymous sou ...

According to a recent report by Reuters, the FDIC in the US has imposed a new condition for prospective buyers of Signature bank. Apparently, any party interested in acquiring Signature will need to agree to completely divest from the cryptocurrency business of the bank. Sources say that the F ...

Jim Cramer, the popular financial news columnist and host of Mad MoneyGram, has recently announced his decision to sell his bitcoins, despite the growing mistrust in banks and the traditional financial system. Cramer discussed the recent bankruptcy of major US banks, Silicon Valley Bank (SVB) and ...

A member of Signature Bank's board has accused US regulators of intentionally discrediting the cryptocurrency industry by blocking the bank's operations over the weekend. Barney Frank, a former congressman and board member of Signature Bank, has alleged that the New York City Department of Financ ...

According to insiders cited by Bloomberg, the Ministry of Justice had been conducting an investigation into Signature Bank's dealings with clients from the crypto sector before its closure. The inquiry's primary aim was to ascertain whether the bank had implemented all necessary measures to compl ...