Crypto Depositors of Signature Bank Face April 5 Deadline for Account Closure
The Federal Deposit Insurance Corporation (FDIC) has urged customers of Signature Bank, a defunct bank that used cryptocurrencies, to close their accounts by April 5 by finding a new bank.
Chinese Banks Extend Services to Hong Kong Crypto Companies
Chinese banks, including Bank of China and Bank of Communications, have started providing financial services to Hong Kong-based cryptocurrency firms despite an ongoing crypto ban in mainland China. Industry experts have welcomed the move, which is seen as encouraging for the industry and broader ecosystem.
Signature Bank Was Under Criminal Investigation Prior To Its Downfall
New York-based Signature Bank, which had a large connection to the bitcoin market, has been shut down by state authorities due to a serious loss of trust in its management, following the failure of Silicon Valley Bank. Investigations were ongoing before its closure into possible money laundering by cryptocurrency customers.
Silicon Valley Bank's Collapse Raises Concerns for Stablecoin Ecosystem
The recent depegging of USDC from $1 has raised concerns within the cryptocurrency industry about the stability of the stablecoin ecosystem. The collapse of Silicon Valley Bank (SVB), where Circle held $3.3 billion or 8.2% of its USDC reserves, caused uncertainty and resulted in USDC's initial depegging on Friday.
After SVB's Failure, Regulators Close Signature Bank, A Cryptocurrency-Friendly Bank
The continuing financial catastrophe in the US has claimed its newest victim: Signature Bank. On Sunday, the New York-based financial organization suddenly stopped operating, raising concerns among both clients and authorities.
After US Officials End Parent Firm, Bank of England Closes Silicon Valley Bank's UK Office
The Bank of England has closed Silicon Valley Bank (SVB), which was shut down by American authorities on Friday. The company will be subject to bank bankruptcy processes, the central bank stated.
After Silicon Valley Bank Failed, Fears Of A Financial Disaster Arose
The largest financial institution failure since the financial crisis more than a decade ago occurred on Friday as Silicon Valley Bank (SVB) had its assets seized by US regulators.
Nigeria's mobile banking transaction rises by 125% in January 2023.
Nigeria recorded a significant increase in its mobile banking transactions carried out in January 2023 with the total value rising by 125% compared to its previous records.
Banking Circle Introduces USDC as a Payment Method
Banking Circle, an EU-regulated payments bank, has announced the integration of the USD Coin (USDC) stablecoin into their payment rail.
Largest private bank LGT to offer direct Bitcoin and Ethereum investments
The crypto investment option would first be open to LGT clients in Liechtenstein and Switzerland.
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