depositors – Page 2

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

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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FDIC Creates Bridge Banks for Failed Silicon Valley Bank and Signature Bank Clients to Access Funds

The U.S. Federal Deposit Insurance Corporation (FDIC) has announced that clients of Silicon Valley Bank (SVB) and Signature Bank (SBNY) can access their funds during normal banking hours on Monday, March 13, 2023. The FDIC stated that both banks’ deposits were made whole under the “systemic risk exception” approved by the U.S. Federal Reserve and […]

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NY Regulators Seize Control of Signature Bank, Depositors Assured by Federal Bailout

On Sunday, the New York Department of Financial Services, or DFS, announced that it had taken possession of Signature Bank. The DFS appointed the Federal Deposit Insurance Corporation, or FDIC, as the receiver of the bank. In a joint statement, the U.S. Federal Reserve, Treasury Department, and FDIC explained that all Signature depositors would be […]

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Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power

According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will […]

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A Crypto Rewards Platform That Promised 40% APY Halts Withdrawals, Citing ‘Market Fluctuations’

A crypto rewards platform called Freeway.io has notified users that it decided to reallocate capital in order to “manage exposure to future market fluctuations and volatility.” In doing so, users are unable to withdraw funds from the platform, and the Freeway team explained that amid the reallocation process, the team could not comment further. Crypto […]

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Another Chinese Lender Bailed Out After Bank Run

Yichuan Rural Commercial Bank, a lender operating in the central Henan province, has become the latest Chinese bank to be bailed out by the government this year. The small financial institution, which has around 30 branches only in the Yichuan county, experienced a bank run sparked by rumors that its top management was in trouble […]

The post Another Chinese Lender Bailed Out After Bank Run appeared first on Bitcoin News.

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