Signature Bank failed to understand risks associated with crypto: FDIC chair
A related report penned down by FDIC Chief Risk Officer cited poor management as “the root cause of Signature Bank’s failure.” Go to Source Powered by WPeMatico
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SEC beyond crypto: HSBC and Scotia hit with fines over WhatsApp use
Both HSBC and Scotiabank have not been very supportive of the cryptocurrency industry’s adoption in recent years. Go to Source Powered by WPeMatico
Federal Reserve’s FedNow will integrate with Metal Blockchain
The integration will allow users to instantly convert cash to stablecoin for use in DeFi protocols. Go to Source Powered by WPeMatico
GAO cites exposure to digital assets in exploring collapse of Signature Bank
Michael Clements said the GAO had reviewed “large deposits from the digital asset space” in considering whether crypto had contributed to Signature’s failure. Go to Source Powered by WPeMatico
S&P Global attempts to assess crypto assets’ susceptibility to macroeconomics
The ratings agency looked at five areas of interconnectedness between the crypto ecosystem and traditional finance; its lack of firm conclusions may be telling. Go to Source Powered by WPeMatico
Bitcoin trading up 80% at DBS Bank due to crypto crashes in 2022, says exec
DBS Bank’s crypto trading platform has been attracting more institutional investors due to crypto exchanges that collapsed last year. Go to Source Powered by WPeMatico
Concern over banking crisis reaches levels unseen since 2008 — Poll
According to a recent poll from Gallup, nearly half of Americans polled expressed concern about the safety of their money deposited with banks. Go to Source Powered by WPeMatico
Louisiana Senator Compares Modern Banks to ‘Sophisticated Ponzi Schemes’
Louisiana Republican senator John Kennedy recently stated in an interview published on Wednesday that the U.S. Federal Reserve may need to increase the federal funds rate to 8-10% to address the country’s inflationary pressures. Kennedy’s remarks come after he criticized the Biden administration in mid-March for bailing out Silicon Valley Bank and Signature Bank, emphasizing … Read more
Bitcoin price sets new May high above $29.5K as traders eye breakout
Bitcoin bulls slowly claw back lost ground on the road to a $30,000 rematch as the U.S. banking crisis lingers. Go to Source Powered by WPeMatico
Bitcoin drops with stocks as analyst warns of banking crisis ‘endgame’
Nerves become apparent across risk assets as U.S. regional banks add to already significant losses. Go to Source Powered by WPeMatico