FDIC will forcibly close crypto deposits of Signature Bank customers after April 5
Deposits in digital assets were estimated at $4 billion at the time of the company’s sale on March 23
29.03.2023 - 09:40
375
2 min
0
What’s new? The US Federal Deposit Insurance Corporation (FDIC) has urged customers of the bankrupt Signature Bank to withdraw funds and close their accounts by April 5. Otherwise, the accounts would be forcibly closed after that date. The bank itself was closed by order of the New York State Department of Financial Services (NYDFS) on March 12, and on March 23 the FDIC sold it to Flagstar Bank, excluding the cryptocurrency part of the business. At that time, deposits in digital assets were estimated at $4 billion.
What else is known about the situation? Signature’s instant payment network called Signet, which is also used by cryptocurrency customers, remained under the FDIC after its purchase by Flagstar Bank. The regulator has not yet commented on its plans for Signet.
Earlier, Reuters reported that a mandatory condition of the FDIC when buying a Signature is the refusal of a potential buyer from the bank’s activities related to digital assets. However, the corporation itself denied this information.
And lawyers at Cooper & Kirk called on Congress to investigate the deal, suspecting regulators of deliberately suppressing cryptocurrency innovation in the private sector. Earlier, Congressman Tom Emmer also demanded clarification from the FDIC over the suspected attempt to suppress legal crypto activity in the country.
Useful material?
Telegram 
Twitter Technologies
Network fees will be integrated into the cost of swaps
Nov 22, 2024
Market
The company’s unrealized profits from investing in its first cryptocurrency approached $14 billion
Nov 19, 2024
Incidents
The search, the reason for which was not announced, took place a week after the election, the results of which Polymarket users predicted quite accurately
Nov 14, 2024
Market
Analysts point to the growing popularity of the first cryptocurrency as a safe haven asset
Nov 13, 2024
Market
The product will begin trading on the Swiss Exchange on November 19
Nov 12, 2024
Market
The company’s unrealized profits from investing in the first cryptocurrency approached $13 billion
Nov 12, 2024
Cryptocurrency rates
-
Bitcoin
$98 214
BTC
-0.26%
-
Ethereum
$3 383.98
ETH
-1.33%
-
BNB Smart Chain
$579.4
BSC
+1.23%
-
Ripple
$1.46
XRP
+0.04%
-
Dogecoin
$0.423692
DOGE
-3.54%
-
Cardano
$1.04
ADA
-2.1%
-
Stellar XLM
$0.520694
XLM
-7.9%
-
Polkadot
$9.18
DOT
+2.71%
-
Bitcoin Cash
$510.23
BCH
-0.7%
-
Litecoin
$96.5
LTC
-5.23%