FDIC
The Rise and Fall of Silvergate’s Crypto Business
The bank’s own data shows the rapid acceleration of its novel crypto-banking business and how leaning into digital assets made it vulnerable to the industry’s drama.
Was Silvergate on Borrowed Time as Regulators Backed Banks Away From Crypto?
As customers abandon the prominent California-based crypto bank, its future gets increasingly murky.
U.S. Lawmakers Argue SEC Accounting Policy Undermines Safe Crypto Custody
Rep. Patrick McHenry, chairman of the House Financial Services Committee, and Sen. Cynthia Lummis teamed up on a letter questioning regulators about crypto accounting policy.
Former FDIC CIO on Crypto Liquidity Risks for US Banks
The Federal Reserve and other U.S. banking agencies are warning banks that crypto poses significant liquidity dangers, further reinforcing their campaign to generally steer lenders away from digital assets. Former FDIC Chief Innovation Officer Sultan Meghji explains why this warning is a "nothing burger" and whether US regulators' approach to crypto regulation will have a chilling effect on financial innovation. Plus, why FDIC could never insure bitcoin the way US dollars are insured.
US Banking Regulators Warn Banks About Crypto Liquidity Risks
The Federal Reserve and other agencies issued another statement about crypto market vulnerabilities as a threat to U.S. banking.
FDIC Tells Crypto Exchange CEX.IO to Stop Claiming US Dollars Held in Its Wallets Are Insured
The agency issued a cease-and-desist letter on Wednesday.
LevelField CEO on Protecting Crypto Transactions
Banking startup LevelField is aiming to become the first FDIC-insured bank to offer digital asset services following its acquisition of Burling Bank. CEO Gene Grant II explains how crypto transactions will be protected, saying, "we're going to be very careful to do to make sure that our customers are not mistakenly led to believe that their digital assets ... are covered by FDIC insurance."
LevelField CEO on Aiming to Become First FDIC-Insured Institution to Offer Crypto Services
Banking startup LevelField is aiming to become the first FDIC-insured bank to offer digital asset services following its acquisition of Burling Bank. LevelField Financial CEO and Founder Gene Grant II discusses their offerings of cryptocurrency-related services. Plus, the significance of educating the clients on the risk of crypto transactions since it's an asset class that remains uninsured even if LevelField becomes an FDIC-insured bank.
Banking Startup LevelField Aims to Become First FDIC-Insured Institution to Offer Crypto Services
LevelField inched closer to its goal of offering both traditional and crypto banking services following its acquisition of the FDIC-insured Burling Bank.
Crypto Exchange Gemini Emphasized FDIC Insurance in Communications With Earn Customers: Report
Gemini reportedly repeatedly implied that the assets of customers using its Earn product were safe thanks to being backed by the Federal Deposit Insurance Corp.
