Banking
Signature Bank shrinks crypto-tied deposits by $8-10B
Signature has been one of the most crypto-friendly banks on Wall Street but is reducing its exposure.
Zeynep Geylan 2 min read
Banking News
Follow crypto banking news, de-risking, stablecoin rails, fintech partnerships, and how traditional finance is adapting to digital assets.
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Banking
Silvergate addresses FTX’s exposure, reassure stakeholders
Silvergate CEO wrote that the financial institution conducted significant due diligence on FTX and Alameda Research before onboarding them as clients.
Banking
SilverGate CEO says “This type of volatility is not new to us,” as crypto market continues to struggle
The current financial conditions are challenging for all financial markets, including Bitcoin, according to SilverGate CEO Alan Lane
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CBDCs
Bitcoin’s current stability stems from market manipulation, ECB report
After reiterating the need for crypto regulation in the EU, the ECB is back at it with allegations of price manipulation.
Bankruptcy
BitGo to take custody of FTX assets in bankruptcy procedure
Crypto custodian, BitGo, has been selected by John Ray III, acting CEO at FTX to safeguard FTX's assets amid bankruptcy proceedings.
Banking
What’s going on with Silvergate, the bank that props up the U.S. crypto market?
The crypto-focused bank says FTX's bankruptcy will have little effect on it. But the broader market downturn could bring Silvergate to its knees if its other large depositors continue struggling.
CBDCs
Indian central bank on track to launch retail CBDC pilot next month
The retail e-rupee, which will be interoperable with existing payment methods, will be hosted by the National Payments Corporation of India.
Crime
Silvergate records reveal $425M in transfers to South American money launderers
Detective Benjamin Dusenbery subpoenaed Silvergate for multiple digital cryptocurrency trading platforms' bank account records and found 10 companies transferring illicit funds.
Bear Market
Binance to start proof-of-reserves; CZ proposes all crypto exchanges follow suit
CZ also suggested that all cryptocurrency exchanges do merkle-tree proof-of-reserves. According to the CEO, fractional reserves are suited to traditional banks and not crypto companies.
