Signature Bank – DIGIT INFO

Tether adds Bahamas-based private bank Britannia as partner: Report

Tether’s reported new partnership with Britannia Bank makes it the third Bahamas-based bank to join forces with the stablecoin issuer.

Go to Source

Warren’s alleged work with short-seller shows anti-crypto army heating up

Elizabeth Warren reportedly took advice from Wall Street short-seller Marc Cohodes, who cashed in on the collapse of Silvergate and Signature banks.

Go to Source

Stablecoins are a critical countermeasure to Operation Chokepoint

Stablecoins could help crypto firms to remove themselves from the banking system — and prevent the U.S. government from cutting off their financial lifelines.

Go to Source

Former House Rep blames industry outsiders for associating crypto with bank’s failure

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

Go to Source

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 […]

Go to Source

US regional bank shares sink despite Fed calling banking system ‘sound’

PacWest Bancorp was the hardest hit bank after-hours on Wednesday, falling over 50% following a reported plan to explore strategic options.

Go to Source

JPMorgan Chase Assumes Control of First Republic Bank Following Seizure by California Regulators

On May 1, 2023, the California Department of Financial Protection and Innovation (DFPI) seized First Republic Bank, placing it into Federal Deposit Insurance Corporation (FDIC) receivership. According to reports, this move came after the bank’s financial troubles made it insolvent and unable to meet its obligations. Following the seizure, JPMorgan Chase submitted the winning bid […]

Go to Source

Reports by Fed and FDIC Reveal Vulnerabilities Behind 2 Major US Bank Failures

On Friday, Michael Barr, the vice chair for supervision at the U.S. Federal Reserve, published a report on the vulnerabilities that led to the ultimate failure of Silicon Valley Bank (SVB). In addition, Marshall Gentry, the chief risk officer of the Federal Deposit Insurance Corporation (FDIC), released a similar report on Signature Bank’s collapse and […]

Go to Source

Fed, NYDFS assess their supervisory performance after March’s big bank failures

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.

Go to Source

CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs

During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full […]

Go to Source