July 23, 2024
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Blockchain News

Feds Shut Down Signature Bank, Say Signature and Silicon Valley Bank Depositors Will Be Made Whole

Silicon Valley Bank and Signature Bank depositors will receive their cash on Monday. The announcement was made by Federal Reserve Chairman Jerome Powell, Treasury Secretary Janet Yellen, and FDIC Chairman Martin Gruenberg. According to a news statement, President Joe Biden advised the move, which will not cost U.S. taxpayers. The joint statement noted that post-2008

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Blockchain News

‘Nobody left to bank crypto companies’ — Crypto Twitter Reacts

With the loss of two large crypto-friendly banks in a week, some in the crypto industry say crypto enterprises may have trouble finding traditional banking partners. Due to “systemic risk,” the Federal Reserve closed Signature Bank on March 12. Silvergate Bank, another crypto-friendly bank, announced its March 8 closure and voluntary liquidation a week earlier.

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