Although banks had minimal crypto exposure, panicked clients pulled out funds and sealed the fate of SVB, Silvergate, and Signature Bank.
The NYDFS has claimed that Signature Bank’s closure was prompted by a bank run and a high proportion of uninsured deposits.
CryptoUK says a list of safe firms is just one of a number of measures the government can take to prevent exchanges from being de-banked.
While crypto firms and real estate bigwigs were panicking about Signature’s bank run, so too were Broadway’s fat cats.
Ensuring deposits for two collapsed banks favored by the rich has led the US government into quite the conundrum.
- Are Bitcoin companies sifting customers’ deposits for rare satoshis?
- Casino operators with ties to Tether, Wirecard busted for money laundering
- Binance invested heavily in lobbying before guilty plea
- Top Binance exec Noah Perlman’s ties to Epstein, Moonstone, and Gemini
- CFTC demands Coinbase user data in suspected Bybit probe
- Tether gives FBI peek behind the curtain
- Binance card withdrawals have been down for a week
- HTX hacked week after Poloniex — now Justin Sun only posts as AI
- Binance and CZ plead guilty but SEC lawsuit remains