FDIC to Return $4B in Signature Crypto Deposits Next Week.
TL;DR Summary
The US Federal Deposit Insurance Corporation (FDIC) plans to return around $4bn in deposits linked to Signature Bank's digital asset banking business by early April, according to FDIC chair Martin Gruenberg. The deposits not included in the bid from a New York Community Bancorp subsidiary for Signature will be returned. Signature's payments platform Signet, along with the digital asset deposits, was not included in the NYCB bid and is being marketed to potential buyers. The FDIC closed the crypto-friendly bank on 12 March, citing risks to the US economy after Silicon Valley Bank and Silvergate Bank had failed.
Topics:business#crypto-friendly-bank#cryptocurrency#digital-asset-deposits#fdic#nellie-liang#signature-bank
- FDIC plans to return $4B in Signature crypto deposits ‘by early next week’ — Martin Gruenberg Cointelegraph
- Billions in Signature Bank Debt to Be Sold by Newmark Group The Wall Street Journal
- 'Hard to fluster' adviser lands central role in US bank mess clean-up Financial Times
- FDIC gives Signature’s crypto clients account deadline Fox Business
- Dear SBNY Stock Fans, Mark Your Calendars for April 5 InvestorPlace
Reading Insights
Total Reads
0
Unique Readers
0
Time Saved
2 min
vs 3 min read
Condensed
77%
427 → 98 words
Want the full story? Read the original article
Read on Cointelegraph