Crypto Firms Announce Funds Caught in Signature Bank Closure

Coinbase announced that it had about $240 million in corporate funds at Signature Bank, but expects a full recovery of all its funds. Several crypto firms, including Paxos, have disclosed their level of involvement with Signature Bank after the latter’s closure by the Treasury. Following an unusual week that saw multiple banks fail, the Federal … Read more

Huobi Announces Closure of Cloud Wallet Service amid ‘Strategic and Product Adjustments’

Following the announcement of its Cloud Wallet service closure, Huobi has advised users to transfer their digital assets elsewhere. Huobi recently announced the impending closure of its Cloud Wallet service due to “strategic and product adjustments.” According to the crypto exchange, it will effectively shut down its decentralized finance (DeFi) multi-token wallet on May 13th, 2023. … Read more