Banks Step Up to Serve Crypto Firms After Signature, Silvergate Blowups

As crypto companies have scrambled to establish new bank relationships, industry executives say they have received a positive reception from some regional banks.

• 2023-03-27
• Signature Bank banking services banking business Silvergate industry executives regional banks Cross River Bank bank relationships

Avoid Buying Bitcoin on Weekends Now. It Could Save You Some Money.

What the price of Bitcoin will do this weekend is anybody’s guess, but here’s one good bet: The past week’s tumult in banking will make it more costly to trade. Since Silvergate Capital (ticker: SI) said it was winding down and Signature Bank (SBNY) failed, token prices on various trading platforms like Coinbase and Gemini have diverged widely. Traders have been paying hundreds of dollars, and sometimes more than $1,000, more for a single Bitcoin on one platform than on others.

• 2023-03-17
• Signature Bank Bitcoin trading platform Dave Weisberger price difference Silvergate

Why Buying Bitcoin on the Weekends Is a Costly Idea Now

What the price of Bitcoin will do this weekend is anybody’s guess, but here’s one good bet: The past week’s tumult in banking will make it more costly to trade. Since Silvergate Capital (ticker: SI) said it was winding down and Signature Bank (SBNY) failed, token prices on various trading platforms like Coinbase and Gemini have diverged widely. Traders have been paying hundreds of dollars, and sometimes more than $1,000, more for a single Bitcoin on one platform than on others.

• 2023-03-17
• Signature Bank Bitcoin trading platform Dave Weisberger price difference Silvergate

Signature, Silvergate collapse may create crypto liquidity issues as banks shy away from purchases

The closure of New York based Signature bank, which has a number of crypto clients, is likely to reverberate across the digital asset industry, days after California's Silicon Valley Bank collapsed in the second-largest bank failure in U.S. history, and Silvergate Bank, another crypto-friendly bank, said it would wind down.

• 2023-03-15
• Silvergate Bank Signature bank bank failures Silicon Valley Bank crypto exchange fiat currencies banks chief executive digital asset Silvergate David Wells

Collapse of Signature, Silvergate may create crypto liquidity issues as banks shy away from purchases

The closure of New York based Signature bank, which has a number of crypto clients, is likely to reverberate across the digital asset industry, days after California's Silicon Valley Bank collapsed in the second-largest bank failure in U.S. history, and Silvergate Bank, another crypto-friendly bank, said it would wind down.

• 2023-03-14
• Silvergate Bank Signature bank bank failures Silicon Valley Bank digital asset fiat currencies banks chief executive Silvergate David Wells

ANALYSIS: USDC Dodges a Bullet, But Crypto Industry Now Has New Problems

The financial turmoil that killed Silvergate Bank, Silicon Valley Bank and Signature Bank will cast a long shadow on crypto's development.

• 2023-03-13
• USDC Federal Deposit Insurance Corporation SVB U.S. Treasury Department Circle Apple Podcasts existential crisis FDIC Silvergate

Crypto Scours the Globe for Banks to Replace Collapsed US Lenders

(Bloomberg) -- Crypto hedge fund executive Marco Lim spent Monday racing to open bank accounts in Hong Kong after the sudden collapse of three US lenders.Most Read from BloombergFDIC Auction for Failed SVB Underway, Final Bids Due SundayFed’s New Backstop Shields Banks From $300 Billion of LossesTreasuries Surge as Traders Recalibrate Rate Bets: Markets WrapSignature Seized by Regulators as Pain Spreads From SVB’s FallUS Discusses Fund to Backstop Deposits If More Banks FailThe hedge fund, MaiCa

• 2023-03-13
• Silicon Valley Bank Signature Bank Bloomberg open bank accounts digital assets Digital Asset Capital Management Hong Kong Silvergate Swiss bank Richard Galvin

Crypto Is Being De-Banked. What It Means for Bitcoin and the Industry.

The closure of Signature Bank effectively shut off one of the last easy options for crypto firms to stay connected to the traditional finance system.

• 2023-03-13
• Silicon Valley Bank Signature Bank Sean Farrell digital asset Twitter Silvergate

Signature Bank takeover could leave crypto companies scrambling for financial services

The Treasury, Federal Reserve, and FDIC jointly announced that depositors would be made whole.

• 2023-03-13
• Silicon Valley Bank financial services Signature Bank SVB Silvergate USDC volatile industry deposit base New York Department of Financial Services

Signature Bank Closure Deals Another Blow to Crypto Industry

(Bloomberg) -- The closure of Signature Bank, a lender that counted a number of crypto companies as customers even as it recently signaled a pullback from the industry, marks another major setback for digital assets.Most Read from BloombergFDIC Auction for Failed SVB Underway, Final Bids Due SundayUS Discusses Fund to Backstop Deposits If More Banks FailSVB Fallout Spreads Around World From London to SingaporeUS Plans Emergency Measures to Backstop Banks After SVBFDIC Races to Return Some Uninsu

• 2023-03-13
• Signature Bank Silicon Valley Bank Bloomberg Silvergate digital assets Silvergate Capital Corp.