Binance controlled its US arm’s bank accounts for two years: Reuters

Bank records and company DMs reveal that Binance US had no control over its own bank accounts held at Silvergate between 2019 and 2020.
Bank records and company DMs reveal that Binance US had no control over its own bank accounts held at Silvergate between 2019 and 2020.
Before Silvergate Bank closed, Block.One founder, Brendan Blumer, Citadel, and Cathie Wood’s ARK Invest all made doomed attempts to save it.
Although banks had minimal crypto exposure, panicked clients pulled out funds and sealed the fate of SVB, Silvergate, and Signature Bank.
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.
Brendan Blumer of EOS and Block.One fame invested over $90 million in Silvergate right before it collapsed 80%.