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Signature Bank
Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K, Says Binance
Opimas LLC CEO and Founder Octavio Marenzi reacts to Binance saying Signature Bank won't support transactions for crypto exchange customers of less than $100,000.
Bitcoin Breaks Above $23K Before Retreating
Opimas LLC CEO and Founder Octavio Marenzi discusses his crypto markets analysis and outlook as bitcoin (BTC) rose above $23,000 for the first time since last August before retreating. He also reacts to Bernstein's latest research report saying recent crypto market strength is probably driven by a reversion to mean values. Plus, his take on Signature Bank not handling transactions of less than $100,000 for crypto exchange customers, according to a statement from exchange giant Binance.
First Mover Americas: Axie Infinity's Token Is Soaring
The latest price moves in crypto markets in context for Jan. 23, 2023.
Binance Says Signature Bank Won’t Support Transactions for Crypto Exchange Customers of Less Than $100K
The crypto-friendly bank has been reducing its involvement in digital asset markets in recent weeks, part of the ongoing fallout from recent crypto industry debacles.
Metropolitan Bank to End Crypto-Related Services
Metropolitan Commercial Bank is to end crypto-related services because of "recent developments" in the digital asset industry. Meanwhile, Jefferies downgraded Signature Bank from buy to hold as its crypto businesses shrink. "The Hash" panel discusses how the FTX contagion will impact the banks that have expanded into crypto.
Signature Bank Downgraded at Jefferies Due to Shrinking Crypto Business
The cut to "hold" by the formerly bullish analyst comes after the stock has suffered a 67% year-over-year decline.
Binance's Bitcoin Reserves Are Overcollateralized: Report; Genesis Developments
Binance released a new report from global financial audit, tax and advisory firm Mazars showing that its customer bitcoin (BTC) reserves are overcollateralized. However, the assessment is not an official audit, according to Francine McKenna, lecturer in financial accounting at The Wharton School at the University of Pennsylvania. Plus, Genesis interim CEO Derar Islim said resolution of his company’s lending unit’s withdrawal freeze is likely to be a matter of “weeks” rather than days. CoinDesk and Genesis share the same parent company.
Crypto Bank Signature Suffers Another Analyst Downgrade; Shares Fall
Raymond James is the latest Wall Street firm to cut its rating on the stock, following Morgan Stanley’s move earlier this week.
Signature Bank to Reduce Crypto-Tied Deposits by as Much as $10 Billion
Nearly a quarter of the Wall Street bank's current deposits come from crypto-related businesses.
Crypto Bank Silvergate Bucks Market Rally as FTX Exposure Is Questioned
Silvergate shares were down about 7% while other crypto-linked stocks rallied Tuesday.
