Congressional report says crypto didn’t cause bank runs — fear of exposure did

Although banks had minimal crypto exposure, panicked clients pulled out funds and sealed the fate of SVB, Silvergate, and Signature Bank.
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.