Signature Bank

Policy

The bank did not provide reliable and consistent data, said Maria Vullo, a former superintendent of the New York State Department of Financial Services.

By Fran VelasquezMar 17, 2023

Opinion

The recent collapse of three high-profile banks - Silicon Valley Bank, Silvergate Bank and Signature Bank - has caused worrying outflows at hundreds of regional banks. Now, with the U.S. Federal Reserve creating a new backstop facility reportedly worth $2 trillion, the echoes of crises in 2008 and 2013 are loud.

By Michael J. CaseyMar 17, 2023

Opinion

The narratives around bank failures, stablecoins and interest rate hikes seem strong enough to propel the price of bitcoin, says CoinDesk's George Kaloudis.

By George KaloudisMar 17, 2023

Former congressman Barney Frank, who is also one of Signature Bank's board members, thinks Signature's shutdown could be politically motivated against the crypto industry. Former New York State Department of Financial Services Superintendent Maria Vullo reacts to that statement, saying, "I don't think you close down a bank because of a policy issue, you do because ... its financial picture is unsafe and unsound."

Mar 17, 2023

Reuters reports that the Federal Deposit Insurance Corporation (FDIC) wants bids submitted by today for banks interested in buying the assets of Signature Bank. Former New York State Department of Financial Services (NYDFS) Superintendent Maria Vullo discusses Signature's shutdown and the potential implications for the U.S. crypto regulatory landscape.

Mar 17, 2023

The Federal Deposit Insurance Corporation (FDIC) denied it would require any purchaser of Signature Bank to divest its crypto activities, responding to Reuters reporting Wednesday, "any buyer of Signature must agree to give up all the crypto business at the bank," which cited two unnamed sources. CoinDesk Global Policy and Regulation Managing Editor Nikhilesh De discusses the details.

Mar 17, 2023

Policy

Reuters reported the FDIC wanted Signature’s buyers to “give up” the bank's crypto activities.

By Nikhilesh DeMar 17, 2023

Osprey Funds founder and CEO Greg King reacts to a new report that states the amount of bitcoin (BTC) held in funds could be dropping and weighs in on whether the largest cryptocurrency by market capitalization remains a "safe haven" asset amid the recent banking jitters. Plus, his take on the FDIC takeover of Signature Bank.

Mar 16, 2023

Reuters reports the FDIC is asking banks interested in buying Silicon Valley Bank and Signature Bank to submit their bids by Friday. This comes as liquidity is on everyone’s mind, especially in the face of record drawdowns from the Treasury General Account during the COVID-19 era, and more after the failure of Silicon Valley Bank.

Mar 16, 2023

Policy

Efforts to keep crypto companies from the U.S. banking system may have been taking place even before the recent bank collapses, Jason Brett told CoinDesk TV's "First Mover."

By Fran VelasquezMar 16, 2023