Martin Gruenberg, president of the United States Federal Deposit Insurance Corporation, said the FDIC plans to return about $4 billion in deposits related to Signature Bank’s digital asset banking business by early April.
At a hearing of the U.S. House of Representatives Financial Services Committee on March 29 to explore the response of federal regulators to recent bank failures, Gruenberg’s side saidDeposits not included in the auction from Signature Bank’s New York Community Bancorp will be returned “early next week” — worth about $4 billion linked to digital assets. Reports suggest that the FDIC will close all crypto-related accounts that are not part of the NYCB deal by April 5 if depositors do not move funds.
According to Gruenberg, Signature Signet’s payment platform, which includes digital asset deposits, is not included in the NYCB bid, with the FDIC, along with New York’s financial regulator, ordering the closure of the crypto-friendly bank. growth on March 12, citing risks to the US economy. After Silicon Valley Bank and Silvergate Bank failed.
Nellie Liang, U.S. Treasury Secretary of Home Affairs Said she doesn’t believe crypto “played a direct role” in either Signature or Silicon Valley Bank’s failure:
“I know Signature has activities related to digital assets. But I don’t believe that is. [สาเหตุ] main”
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