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” US lawmaker suggests Signature’s collapse was tied to instability of crypto “ Michael Bennet, a United States Senator representing the state of Colorado, has suggested that banks that associated with crypto firms did not make “prudentially sound” decisions. Speaking at a March 16 hearing of the Senate Finance Committee, Bennet brought up the recent…
First Republic Bank getting bailed out by large banks in $30 billion plan First Republic Bank has reached an agreement with some of the largest U.S. banks to stabilize its balance sheet in the aftermath of the Silicon Valley Bank collapse, federal regulators said Thursday. The San Francisco-based bank will receive $30 billion in deposits…
” Decentralize and the week’s Breaking News: SVB, USDC and BTC to 26k “ Breaking news and insightful views: Decentralize with Cointelegraph drops a new style of podcast, curated for you by the Cointelegraph news team. Decentralize with Cointelegraph, hosted by Global Reporter Joe Hall dissects the crypto market’s breaking–and most impactful news of the…
” FDIC asked Signature buyers to stop all crypto business: Report “ The United States’ Federal Deposit Insurance Corporation (FDIC) has reportedly asked potential rescuers of some failed U.S. banks to not support any crypto services. The FDIC regulators have asked banks interested in acquiring failed U.S. lenders like Silicon Valley Bank and Signature Bank…
” Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White “ In the wake of three major banks with ties to crypto firms collapsing, software engineer Molly White believes companies now looking at banking options may have to face “shadier” solutions. Speaking on March 14 at a South by Southwest (SXSW)…
” Senator Warren says Fed chair ‘has to recuse himself’ from reviewing regulatory failures “ Massachusetts Senator Elizabeth Warren, one of the more prominent anti-crypto voices in the United States Congress, has called on Jerome Powell to recuse himself amid an internal probe at the Federal Reserve. Speaking to reporters in Washington D.C. on March…
” US lawmaker accuses FDIC of using banking instability to attack crypto “ Tom Emmer, the majority whip of the United States House of Representatives, has reiterated concerns that the federal government is “weaponizing” concerns around the banking industry to go after crypto. In a March 15 letter, Emmer called on Federal Deposit Insurance Corporation…
” Signature Bank investigated for money laundering prior to demise: Report “ The cryptocurrency-friendly Signature Bank was reportedly being investigated by two United States government bodies prior to its collapse. According to a March 15 Bloomberg report citing people familiar with the matter, investigators with the Justice Department were examining whether Signature took adequate measures…
Moody’s weighs downgrade for six US banks following SVB collapse Moody’s Investors Service is weighing a credit downgrade for six U.S. banks following the second- and third-largest bank failures in the nation’s history. The credit rating firm said Monday that the regional banks are “exposed to the risk of uninsured deposit outflows” in the wake…
” Silvergate, SBV collapse ‘definitely good’ for Bitcoin, Trezor exec says “ The ongoing crisis of banks in the United States has many positive implications for Bitcoin (BTC), according to an executive at the hardware wallet firm Trezor. On March 14, Bitcoin broke $26,000, a price level not seen since June 2022, posting the biggest…