banking
How Silvergate’s Crypto Collapse Differed From Silicon Valley Bank’s: No Bailout
A deep dive into regulatory filings shows how Silvergate Bank's collapse was, in a strange way, the ideal scenario for a failing institution. Sure, shareholders got wiped out, but depositors are made whole and the Federal Deposit Insurance Corp. isn't putting in a dime.
Why Financial Analysts Missed Silvergate’s Red Flags
There were numerous signs of the crypto bank’s problems, but none of the analysts following the company picked up on them. Angelo Calvello, of Rosetta Analytics, says that was partly down to their traditional investment mindset.
JPMorgan Is Cutting Ties With Crypto Exchange Gemini: Source
Coinbase said its banking relationship with JPMorgan remains intact.
Silvergate Talking With FDIC About How to Save Crypto-Focused Bank: Bloomberg
FDIC examiners met with Silvergate management at its headquarters in California last week.
What Now for Crypto Banking?
Regulators are leery of traditional banks offering services to crypto companies, and wary of specialist crypto banks, like Custodia, with new business models. Frances Coppola asks: Where do we go from here?
Silvergate Stock Drops Over 50% as Crypto Clients Flee Beleaguered Bank
Silvergate's clients Coinbase, Circle, Paxos, Crypto.com, Bitstamp, Cboe Digital Markets, Galaxy and Gemini said they will suspend business with the bank.
Xapo Bank Integrates Bitcoin’s Lightning Network, Partners with Lightspark
Crypto pioneer Xapo has quietly assembled interest-bearing, deposit-guaranteed USD bank accounts with a view to providing alternative financial services in emerging market countries.
Kraken Pulling Back From Using Signature Bank: Bloomberg
Non-corporate clients will no longer be able to make dollar deposits or withdrawals using the crypto-focused bank, according to a report.
Crypto Bank Custodia's Bid for Fed Supervision Rejected Again
The Fed rejected Custodia's first bid last month.
