Tether Holdings Ltd. and Signature Bank partnered, raising cryptocurrencies transparency worries. Tether’s stablecoin was exchanged for dollars wired to Capital Union Bank Ltd. The volatility of the cryptocurrency market has scared off traditional banks. Tether Holdings Ltd. has never had direct access to the U.S. financial system. The firm was able to find a way … Read more
The FDIC is selling Signature Bank’s deposits and loans to Michigan-based Flagstar Bank. The deal does not include the bank’s crypto-related deposits and business, including Signet. New York Community Bancorp-owned Flagstar Bank has offered to buy Signature Bank, the crypto-friendly financial institution that was seized by the U.S. Federal Deposit Insurance Corp (FDIC) last week. … Read more
Signature’s assets were $110.36 billion, whereas SVB’s had $209 billion. Bitcoin climbed beyond $28,000 for the first time since June 2022. With the approval of American regulators, a division of New York Community Bancorp has agreed to buy deposits and loans from the recently shut down Signature Bank in New York. Flagstar Bank, a wholly … Read more