{"id":563250,"date":"2023-03-14T01:38:14","date_gmt":"2023-03-13T22:38:14","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/marathon-digital-deposits-held-at-signature-bank-are-secure-and-available\/"},"modified":"2023-03-14T01:38:14","modified_gmt":"2023-03-13T22:38:14","slug":"marathon-digital-deposits-held-at-signature-bank-are-secure-and-available","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/marathon-digital-deposits-held-at-signature-bank-are-secure-and-available\/","title":{"rendered":"# Marathon Digital: Deposits held at Signature Bank are secure and available"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a41689aaccef\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a41689aaccef\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/marathon-digital-deposits-held-at-signature-bank-are-secure-and-available\/#%E2%80%9D_Marathon_Digital_Deposits_held_at_Signature_Bank_are_secure_and_available_%E2%80%9C\" >&#8221; Marathon Digital: Deposits held at Signature Bank are secure and available &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Marathon_Digital_Deposits_held_at_Signature_Bank_are_secure_and_available_%E2%80%9C\"><\/span>&#8221; Marathon Digital: Deposits held at Signature Bank are secure and available &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDMvMmU2MmZkOTMtMmMxMy00YTk0LWE2MDctNGMxMjgxMjgxYTc5LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-48054ca8>Crypto mining firm Marathon Digital Holdings has assured investors that the firm&#8217;s cash deposits at Signature Bank are secure and available for use as of Mar. 13.<\/p>\n<p>In a <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/ir.marathondh.com\/news-events\/press-releases\/detail\/1305\/marathon-digital-holdings-responds-to-closure-of-signature\">statement<\/a> following\u00a0the closure of New York\u2019s Signature Bank, Marathon disclosed that it has <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately $142 million in cash deposits at Signature Bridge Bank. <\/p>\n<p>The Signature Bridge Bank was set up by the\u00a0United States Federal Deposit Insurance Corporation (FDIC) to manage customer accounts at the recently shut-down Signature Bank. The bridge bank is aimed at ensuring the flow of funds is not interrupted while the regulator searches for a buyer to acquire the assets of Signature Bank.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Marathon Digital Holdings&#8217; deposits that were held at Signature Bank, New York, NY are secure and available for use as of Monday, March 13, 2023. Read the full update here:  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/H5R6wpmB7Q\">https:\/\/t.co\/H5R6wpmB7Q<\/a><\/p>\n<p>\u2014 Marathon Digital Holdings (NASDAQ: MARA) (@MarathonDH) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/MarathonDH\/status\/1635281385907970051?ref_src=twsrc%5Etfw\">March 13, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Marathon also confirmed that it has access to its funds for treasury management purposes, and is conducting its usual business transactions and paying all invoices as usual. Moreover, Marathon still holds over 11,000 Bitcoin (BTC), which the company views as a financial asset that provides flexibility beyond the conventional banking system.<\/p>\n<p>The company also clarified that it has no direct business ties with Silicon Valley Bank, which shut down on Mar. 10.\u00a0<\/p>\n<p>Signature Bank, a crypto-friendly bank based in New York\u00a0closed down\u00a0on Mar. 12 and was\u00a0taken over by the New York Department of Financial Services (NYDFS). <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/federalreserve?ref_src=twsrc%5Etfw\">@federalreserve<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/USTreasury?ref_src=twsrc%5Etfw\">@USTreasury<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FDICgov?ref_src=twsrc%5Etfw\">@FDICgov<\/a> issue statement on actions to protect the U.S. economy by strengthening public confidence in our banking system, ensuring depositors&#8217; savings remain safe: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/YISeTdFPrO\">https:\/\/t.co\/YISeTdFPrO<\/a><\/p>\n<p>\u2014 Federal Reserve (@federalreserve) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/federalreserve\/status\/1635043996321067008?ref_src=twsrc%5Etfw\">March 12, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The Federal Reserve, in a statement released on Mar. 12, explained that the decision to close the bank was made in collaboration with the FDIC to protect the U.S. economy and bolster public confidence in the banking system.<\/p>\n<p><strong><em>Related:<\/em><\/strong> <strong><em>Gemini says no funds at Signature Bank backing GUSD<\/em><\/strong><\/p>\n<p>Former U.S. Representative and Signature Bank board member Barney Frank has since suggested that the closure of Signature Bank by New York regulators was part of an anti-crypto message,\u00a0a Mar. 13 CNBC report revealed. <\/p>\n<p>According to Frank, there was no indication of problems at the bank beyond a deposit run of over $10 billion, which he attributed to contagion from the fallout of Silicon Valley Bank.<\/p>\n<p> Signature Bank&#8217;s shut down by New York regulators makes it the third bank with ties to crypto to collapse in a week. Frank said regulators may have wanted to show an anti-crypto message, and claims that Signature and Silvergate Bank was solvent at the time.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"defi_newsletter\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/marathon-digital-deposits-held-at-signature-bank-are-secure-and-available\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Marathon Digital: Deposits held at Signature Bank are secure and available &#8220; Crypto mining firm Marathon Digital Holdings has assured investors that the firm&#8217;s cash deposits at Signature Bank are secure and available for use as of Mar. 13. In a statement following\u00a0the closure of New York\u2019s Signature Bank, Marathon disclosed that it has&#8230;<\/p>\n","protected":false},"author":1,"featured_media":563251,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/2e62fd93-2c13-4a94-a607-4c1281281a79.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74888,74894,79786,75269,71939,117,4965],"class_list":["post-563250","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-banking","tag-blockchain","tag-digital-asset","tag-us-government","tag-banks","tag-business","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/563250","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=563250"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/563250\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/563251"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=563250"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=563250"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=563250"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}