Crypto blamed unfairly for Signature Bank’s liquidity crisis, says NY regulator

2023-4-20 01:08

The Superintendent of the New York State Department of Financial Services (NYDFS), Adrienne Harris, has refuted allegations that cryptocurrency depositors were responsible for the collapse of Signature Bank. 

At a hearing about stablecoins held by the House Financial Services Committee on April 18, Harris stated that the liquidity crisis that led to Signature Bank’s collapse was not caused solely by cryptocurrency depositors, but by various depositors withdrawing their funds from the bank, Bloomberg reported.

Harris reiterated her stance on cryptocurrencies during the hearing, dismissing the notion that they were responsible for the bank’s failure and calling it a “misnomer.”

This is in line with her earlier comments at the Links NYC conference, where she defended cryptocurrencies and expressed skepticism toward government officials who criticized them.

Signature’s crypto clients

Superintendent Harris stated that only 20% of depositors at Signature Bank were cryptocurrency clients, and 20% of all depositors withdrew their assets, which led to the bank’s liquidity crisis.

“The outflow of crypto deposits were in exact proportion to the representation in the depositor base overall.”

Signature Bank’s depositors who withdrew their funds and contributed to the bank’s liquidity crisis came from various sectors, including the crypto industry, food vendors, fiduciaries, trusts, and law firms, according to Superintendent Harris.

The bank had previously stated plans to reduce services for the crypto industry due to regulatory pressure and challenges within the digital asset sector. Regulators took control of the bank after outflows reached billions of dollars during a massive bank run.

The post Crypto blamed unfairly for Signature Bank’s liquidity crisis, says NY regulator appeared first on CryptoSlate.

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bank signature → Результатов: 126


Senators grill federal officials over lack of oversight into SVB, Signature Bank collapse

In a closely watched Senate hearing held on Mar 28, regarding the collapse of crypto-friendly banks Silicon Valley Bank (SVB) and Signature Bank, William Barr, a top official at the US Federal Reserve, acknowledged the potential benefits of testing for higher rates and expressed his plans to broaden the scope of future tests.

2023-3-29 23:39


U.S. Bank Regulators Investigating Leaders of the Failed Tech Banks

The Federal Deposit Insurance Corp. is investigating the actions of the leaders of Signature Bank and Silicon Valley Bank to hold them accountable for their collapses, said Chairman Martin Gruenberg, who detailed their mismanagement and dangerous business concentrations – especially in digital assets at Signature – in testimony prepared for a U.S. Senate hearing.

2023-3-28 21:46


Барни Франк: Чиновники использовали крах Signature Bank для удара по криптоиндустрии

Член правления Signature Bank обвинил регулирующие органы США, которые блокировали операции банка на выходных, в преднамеренных действиях, направленных на дискредитацию криптоотрасли.

2023-3-14 13:07


Фото:

Signature Bank’s Blockchain Payment Platform to Accept Trueusd Stablecoin

As Signature Bank expands its commercial banking offerings, the trueusd stablecoin has been integrated with its Signet blockchain-based digital payment platform to deliver instant dollar payments. Signet Integration to Deliver 24/7 Dollar Payment and Settlement As more enterprises flirt with the idea of blockchain-based products and services, stablecoins are one of the areas of fascination […]

2021-6-22 12:30


Circle Collaborates With Signature Bank On USDC Integration

Global payment technology company Circle announced a collaboration with Signature Bank to integrate Circle products and services into the bank's suite of products. Circle Picks Signature for USDC Reserve Deposits The new partnership will enable the New York-based Signature Bank to be the leading financial institution for Circle’s USDC reserve deposits, per its press release.

2021-4-21 19:59


Фото:

Депозиты криптовалютных фирм в Signature Bank превысили $10 млрд

Депозиты криптовалютных компаний составляют почти 16% общей суммы депозитов в Signature Bank. Клиентам предоставляется платежная платформа на блокчейне Signet.

2021-1-22 16:59


Эмитенты стейблкоинов помогли Signature Bank привлечь депозиты на $1 млрд

Нью-йоркский Signature Bank, в число клиентов которого входят криптовалютные компании, по итогам третьего квартала нарастил объем депозитов на $4,11 млрд. Четверть этой суммы пришлась на организации, работающие с цифровыми валютами, в том числе эмитентов стейблкоинов, пишет Coindesk.

2020-10-21 13:42


Фото:

Биткоин-биржа Bitstamp внедрила блокчейн-решение Signet для институционалов

Старейшая европейская криптобиржа Bitstamp сообщила об интеграции ориентированной на институциональных пользователей платформы цифровых платежей Signet от Signature Bank. SIGNET: Bitstamp has become the first crypto exchange to integrate Signet™, Signature Bank’s digital payments platform used by institutional customers to transfer USD in real-time, 24/7.

2020-5-7 20:33


Новости криптовалют сегодня, 25 июня 2019

Тут новости криптовалют сегодня от авторов блога «Новости криптовалют». Статья обновляется в течение дня. CoinDesk Разрешение Facebook выпускать собственную монету превратит ее в величайшую монополию в истории, утверждает председатель Signature Bank.

2019-6-26 09:38


Фото:

America’s Signature Bank to Offer Services to Bermuda Crypto Companies

U.S. commercial bank Signature will start to offer a full range of banking services to licensed fintech companies in Bermuda, including those in the digital asset industry. The bank has reached an agreement with the government to provide the service, moving in to fill the gap left by local banks, which have been reluctant to […] The post America’s Signature Bank to Offer Services to Bermuda Crypto Companies appeared first on Bitcoin News.

2019-3-2 06:40


Фото:

Signature Bank обслужит финтех-компании Бермудских островов

Коммерческий банк Нью-Йорка Signature Bank предложит зарегистрированным на Бермудах финтех-стартапам полное сервисное обслуживание. Предложение также распространяется на крипто-проекты, пишет CoinDesk.

2019-3-1 08:51


Фото:

Банк Нью-Йорка обслужит финтех-компании Бермудских островов

Коммерческий банк Нью-Йорка Signature Bank предложит зарегистрированным на Бермудах финтех-стартапам полное сервисное обслуживание. Предложение также распространяется на крипто-проекты, пишет CoinDesk.

2019-3-1 08:51


Signature Bank создал систему наподобие монеты JPM Coin 2 месяца назад

На прошлой неделе криптосообщество взбудоражил план JPMorgan перемещать доллары по блокчейну, однако мало кому известно, что небольшой американский банк занимается этим вот уже два месяца. С момента запуска, произошедшего в начале года, к основанной на блокчейне системе Signet банка Signature Bank присоединилось более сотни клиентов, ежедневно отправляющих друг другу миллионы долларов.

2019-2-18 19:25