This US Lawmaker Says Signature Bank Collapse Was Due to Instability in Crypto

Senator Michael Bennet from Colorado said that Signature Bank didn’t make “prudentially sound” decisions while dealing with crypto. Other US lawmakers believe crypto is being made a scapegoat in the failed banking policies of the Fed. Michael Bennet, the United States Senator from Colorado, recently opened up about the shutting down of crypto-friendly Signature Bank, … Read more

Robinhood Users Unable to Realize Bets Profits against SVB and Signature Bank

Robinhood users have taken to Twitter to express their displeasure as they are unable to revel in the SVB and Signature Bank failure. Users of the Menlo-Park-headquartered financial services company Robinhood Markets Inc (NASDAQ: HOOD) app have been unable to cash in on the recent crumble of Signature Bank and Silicon Valley Bank (SVB) despite … Read more

Moody’s Downgrades Signature Bank to Junk while Putting More Banks Under Review 

Moody’s also put the ratings of six other banks in the US under review. Ratings agency Moody’s has downgraded the debt ratings of recently collapsed Signature Bank (NASDAQ: SBNY) to junk amid the happenings in the US banking sector. Signature Bank began to lose its shares following the demise of Silicon Valley Bank last week. … Read more

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

NYDFS Taking Over Signature Bank as SVB Fails

The decision to take over Signature Bank was made to reduce depositor outflows and prevent further bank runs. The New York Department of Financial Services (NYDFS) has taken over the crypto-friendly bank, Signature Bank, to safeguard depositors’ funds and preserve confidence in the US economy. After the collapse of Silicon Valley Bank (SVB) due to … Read more