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FDIC
FDIC Reportedly Asking Banks to Submit Bids for SVB, Signature by Friday
Reuters reports the FDIC is asking banks interested in buying Silicon Valley Bank and Signature Bank to submit their bids by Friday. This comes as liquidity is on everyone’s mind, especially in the face of record drawdowns from the Treasury General Account during the COVID-19 era, and more after the failure of Silicon Valley Bank.
Former FDIC Regulator: Friendliness Toward Crypto 'Does Not Exist'
Efforts to keep crypto companies from the U.S. banking system may have been taking place even before the recent bank collapses, Jason Brett told CoinDesk TV's "First Mover."
'Sharks in the Water' Linger Amid Recent Banking Sector Jitters: Former FDIC Regulator
Credit Suisse has agreed to a $53 billion loan from the Swiss central ban, after shares of Switzerland's second-largest lender hit a fresh record low on Wednesday. "What you're seeing are sharks in the water and a lot of short-selling of bank stocks," said Jason Brett, Key Bridge Advisors Managing Director and former U.S. Regulator at the FDIC. "It might put SEC Chair Gary Gensler in the center stage very soon."
Prospective Signature Bank Buyers Must Promise to Give Up All Crypto Business: Report
Signature Bank is on the market after being shuttered by state regulators on Sunday, but any potential buyer reportedly has to agree to a major caveat: no crypto. Jason Brett, Key Bridge Advisors Managing Director and former U.S. Regulator at the FDIC, shares insights into the recent banking jitters and its impact on the crypto industry. Plus, his outlook for Credit Suisse after Switzerland's second-biggest lender saw its worst day on record, with shares falling over 20%.
Former FDIC Regulator: Friendliness Toward Crypto Does Not Exist
Jason Brett, Key Bridge Advisors Managing Director and former U.S. Regulator at the FDIC, reacts to concerns being raised by crypto advocates over whether federal regulators could be working to keep crypto assets away from the U.S. banking system. "It's about the friendliness toward crypto, and it just does not exist," Brett said.
Signature Bank’s Prospective Buyers Must Agree to Give Up All Crypto Business: Reuters
The Federal Deposit Insurance Corp. later denied Reuters' reporting.
Brian Brooks: U.S. Government Using Crisis to Choke Off Crypto Access to Banks
The former acting head of the OCC said federal regulators are working together to keep crypto assets out of the U.S. banking system.
U.S. DOJ Was Investigating Signature Bank's Work With Crypto Clients: Bloomberg
Prosecutors were looking at the crypto-friendly bank before regulators seized it, people familiar told Bloomberg.
Signature Bank’s Signet Platform Still Works, but Some Clients Have Moved On
The real-time payments platform, popular with crypto businesses, will continue to be offered under the newly established Signature Bridge Bank entity, a source told CoinDesk.
USDC's 'Black Swan' Depegging Could Have Been Avoided With Proper Regulatory Framework
Fissures among the progressive left are primarily responsible for the lack of U.S. regulatory progress, says John Rizzo of the Clyde Group.
