Signature Bank News

Martin Gruenberg is set to exit as FDIC chair, with Representative Tom Emmer blasting him as “an architect of Operation Chokepoint 2.0.”

New York Community Bancorp acquired the assets and liabilities of the collapsed Signature Bank during the regional banking turmoil in 2023.

According to Barney Frank, Signature Bank’s only issue prior to regulators seizing control in March was “crypto-fear-inaccurate withdrawals."

Senator Cynthia Lummis noted that Signature Bank’s Scott Shay mentioned digital assets 10 times in his testimony about the bank’s collapse.

Internal reviews of the supervision of Silicon Valley Bank and Signature Bank have been released, showing weaknesses on the part of the banks’ regulators as well as management.

Plaintiffs seeking damages from Silvergate’s collapse have joined forces via their respective lawsuits.

The account services for crypto firms come at a time when United States-based companies are struggling to find local banking partners and are frequently looking abroad.

Bitcoin’s strong start to 2023 is persisting despite numerous headwinds, and is currently outperforming the S&P 500 Index by nearly 60 percentage points.

The superintendent of the New York Department of Financial Services reportedly dismissed claims the U.S. government was working to implement “Operation Choke Point 2.0.”

The stablecoin provider denied the allegations that began to surface in regard to its exposure to the now-collapsed Signature Bank.

At the time New York regulators took control of Signature in March, there was reportedly a system in place for Tether clients to send dollars through the bank’s Signet platform.

The Treasury Department’s undersecretary for domestic finance, Nellie Liang, said at the same hearing she didn’t believe crypto “played a direct role” in the failure of the banks.

Stablecoins are seen as a potential solution to crypto’s banking problem, but some of them are currently not immune to banking issues.

Any crypto deposits not transferred to another bank by April 5 will be liquidated and a check mailed to the client's address.

Signature Bank is the best place for crypto banking, even if it goes bankrupt, Woorton co-founder Zahreddine Touag believes.