contagion – DIGIT INFO

US Government in Talks to Rescue Struggling First Republic Bank, Sources Say

DIGIT — Fri, 28 Apr 2023 19:04:58 +0000

Sources have revealed that U.S. government officials are in talks to rescue First Republic Bank, a struggling financial institution. The discussions involve the U.S. Treasury, the Federal Deposit Insurance Corporation (FDIC), and the Federal Reserve, according to reports on Friday. Private-Sector Deal Preferred as U.S. Government Officials Discuss First Republic Bank Rescue Efforts Market observers […]

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Crypto users turned to DEXs, loaded up on USDC after Silicon Valley Bank crash

DIGIT — Fri, 17 Mar 2023 02:40:05 +0000

The collapse of FTX led to a similar exodus from centralized exchanges, as users worried they may lose access to funds during crises.

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Bank Board Member and Dodd-Frank Co-Sponsor Barney Frank Suspects ‘Anti-Crypto’ Message Behind Signature Bank Failure

DIGIT — Mon, 13 Mar 2023 22:30:28 +0000

Barney Frank, a former member of the U.S. House of Representatives from Massachusetts and leading co-sponsor of the 2010 Dodd-Frank Act, discussed his opinion on the recent failure of Signature Bank. In an interview, Frank stated that he believes regulators aimed to “send a very strong anti-crypto message.” Frank, who also serves as a Signature […]

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Coinbase, Celsius and Paxos disclose funds in Signature Bank

DIGIT — Mon, 13 Mar 2023 05:34:41 +0000

The crypto-friendly Signature Bank was a key partner for many crypto firms, some which have been voluntarily disclosing their exposure to the recently closed firm.

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‘Fiat Is Fragile’ — Silicon Valley Bank’s Collapse Sparks Finger-Pointing and Concerns of Contagion

DIGIT — Sat, 11 Mar 2023 20:30:15 +0000

Silicon Valley Bank (SVB) has become the center of attention after its collapse prompted the U.S. Federal Deposit Insurance Corporation (FDIC) to shut the bank down on Friday. It was the largest U.S. bank failure since 2008, and various alleged catalysts have been pointed to. Some believe venture capitalists caused a bank run, while others […]

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Blockchain.com Shutters Asset Management Subsidiary Amid Crypto Winter and Industry Turmoil

DIGIT — Sat, 11 Mar 2023 05:30:32 +0000

According to reports and a filing that shows its name struck off the U.K. companies’ register list, Blockchain.com is sunsetting its Blockchain.com Asset Management subsidiary. A company spokesperson cited deteriorating “macroeconomic conditions” and the “crypto winter” as some of the reasons for halting the institutional business. The Impact of Crypto Winter on the Cryptocurrency Industry […]

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CFTC’s Johnson urges Congress to expand commission’s crypto oversight powers

DIGIT — Fri, 27 Jan 2023 01:47:04 +0000

Commodity Futures Trading Commission Kristin Johnson wants to protect customers in a way that reduces the risk of future crises.

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IMF Division Chief and Deputy Managing Director Call for Swift Regulatory Action to Avoid Crypto Contagion to Legacy Finance

DIGIT — Fri, 20 Jan 2023 23:30:16 +0000

An International Monetary Fund (IMF) division chief and deputy managing director are calling for more action to be taken in the regulatory aspect to avoid crypto’s ups and downs affecting banks and traditional financial institutions. Nobuyasu Sugimoto, deputy division chief of the financial supervision and regulation division of the IMF, and Bo Li, deputy managing […]

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Wyre Announces Modification of Withdrawal Policy, Pushing Topps to Temporarily Suspend NFT Marketplace Transactions

DIGIT — Sat, 07 Jan 2023 21:30:21 +0000

Following reports that the crypto payments firm Wyre was shutting down operations, CEO Ioannis Giannaros offered a contradicting story, stating that the firm was merely “scaling back.” Wyre has now announced that it is “modifying” its withdrawal policy, citing the crypto industry downturn and the “macroeconomic climate” as factors that have affected the company. On […]

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Approach with caution: US banking regulator’s crypto warning

DIGIT — Fri, 09 Dec 2022 05:23:41 +0000

The Office of the Comptroller of the Currency (OCC) said the digital asset industry was maturing but was “not yet robust” in its risk management.

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