• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: Bitcoin Price Makes History By Crossing $126,000: Options Market Forecasts Next Price Targets
crypto

The “Big Scandal” Behind Pro-Crypto Signature Bank Shutdown By Regulators

Ronaldo Marquez
by Ronaldo Marquez
2 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Signature Bank, another major crypto-friendly institution, was shut down by regulators on Sunday. The New York financial institution, with a large lending business in the crypto industry, was caught in the “crossfire” of regulators to prevent the spreading banking crisis.

Yesterday, the U.S. Federal Reserve (Fed) stated that keeping the bank open could “threaten the stability of the entire financial system.” Similar to what was done to ensure depositors at the failed Silicon Valley Bank (SVB), regulators stated that the crypto-friendly Signature Bank would have full access to their deposits. The Fed said:

Today we are taking decisive actions to protect the U.S. economy by strengthening public confidence in our banking system. This step will ensure that the U.S. banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth.

After the sudden collapse of Silicon Valley Bank and the third largest bank failure in U.S. history, former Congressman and current director and board member of Signature Bank, Barney Frank, sees the recent moves by regulators against pro-crypto bank Signature as an “anti-crypto message.”

Related Reading: Brain Armstrong Might Add banking Features To Coinbase, Details

Regulators Shutdown Signature To Attack Pro-Crypto Allies?

According to a CNBC report, the sudden move by U.S. regulators “shocked” executives at Signature Bank. For bank director Barney Frank, the executive had “no indication of problems” until the deposit run they received on Friday, following the fall of Silicon Valley Bank, to what the former congressman claimed was “pure contagion” from the SVB fall.

Frank co-sponsored the landmark Dodd-Frank Act created to curb the financial sector’s risky activities post-2008. On the current situation, the former government official added:

I think part of what happened was that regulators wanted to send a very strong anti-crypto message. We became the poster boy because there was no insolvency based on the fundamentals.

Did The Signature Bank Held Crypto Deposits?

Regulators, for their part, are conducting a sale process for the crypto-friendly bank while reportedly guaranteeing customers uninterrupted access to deposits and services. According to Frank, Signature executives have been exploring “all options” to address the problems, including raising capital and gauging interest from potential acquirers.

The bank also claimed that its customer deposits related to digital assets stood at $16.52 billion, making it one of the few financial institutions to open its doors to accept crypto asset deposits after entering the industry in 2018.

Moreover, Christopher Whalen of Whalen Global Advisors told the New York Times that this story has more to do with crypto, “a huge miscalculation by veteran bankers.”

With the ongoing global financial crisis, Signature Bank’s shares began declining on Wednesday, March 8, after closing the trading day at $103 on the Nasdaq Stock Market, now trading at $70 per share.

Three crypto-friendly banks have fallen victim to regulatory policy in less than a month. However, investors seem to be betting more on crypto assets than the traditional financial system, as the crisis shows no signs of easing.

Related Reading: Flash Loan Attack Drains $180 Million From Euler Finance
Signature Bank
Total global market cap above the 1 trillion dollar mark. Source: TOTAL on TradingView.com

The global cryptocurrency market capitalization has returned well above the psychological level of $1 trillion. Representing a “safe haven” for investors and regaining confidence in digital assets has led to all major cryptocurrencies thriving and regaining previously lost levels.

Featured image from Unsplash, chart from TradingView.com.

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Ronaldo Marquez

Ronaldo Marquez

Follow

Ronaldo is a seasoned crypto enthusiast with over four years of experience in the field. He is passionate about exploring the vast and dynamic world of decentralized finance (DeFi) and its practical applications for achieving economic sovereignty. Ronaldo is constantly seeking to expand his knowledge and expertise in the DeFi space, as he believes it holds tremendous potential for transforming the traditional financial landscape.

Full Profile

Related Posts

Next Crypto to Explode as 'Stars Are Aligned' for Bitcoin ETF Explosion & Gold Hits $4K

Next Crypto to Explode as ‘Stars Are Aligned’ for Bitcoin ETF Explosion & Gold Hits $4K

11 minutes ago
square bitcoin

Η Square λανσάρει μηδενικές χρεώσεις σε πληρωμές με Bitcoin – Νέα εποχή για crypto συναλλαγές

1 hour ago
MetaMask

MetaMask Unveils Perp Futures Trading, Powered By Hyperliquid (HYPE) And Polymarket

1 hour ago
ChatGPT Predicts BNB to Hit $2,500 This Year: Here Are Its Recommendations for the Best Crypto to Buy

ChatGPT Predicts BNB to Hit $2,500 This Year: Here Are Its Recommendations for the Best Crypto to Buy

1 hour ago
stablecoin, crypto

US Labor Union Urges Senate To Oppose Crypto Bill Over Pension, Workers’ Risks

2 hours ago
Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (October 9)

Next Crypto to Explode Live News Today: Timely Insights for Chart Sniffers (October 9)

38 minutes ago

Premium Sponsors

Press Releases

  • Maxi Doge นักสู้เหรียญมีมยืนโพสท่าในสังเวียนมวย

    Binance-Peg DOGE นำโด่ง Top 11...

    2 hours ago
  • Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s $22M Presale—Plus, Our $HYPER Price Prediction.

    Find Out Why Whales are Rushing to Buy Bitcoin Hyper’s...

    3 hours ago
  • ...

    1 day ago
  • Your Chance to Win Up to 10% Deposit Bonus and Up to 21K $USDT Bonus Prizes at KCEX

    Your Chance to Win Up to 10% Deposit Bonus and Up to 21K...

    1 day ago
  • 分析師稱 FARTCOIN 有望暴漲...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.