Coinbase reveals impact of Silvergate, Signature Bank closures on ops
Coinbase Global Inc (NASDAQ:COIN) confirms it experienced a temporary inability to transfer fiat currencies outside of standard business hours.
Coinbase Global Inc (NASDAQ:COIN) confirms it experienced a temporary inability to transfer fiat currencies outside of standard business hours.
Approximately $60 billion in Signature Bank loans will remain in the receivership for later disposition by the FDIC.
Due to the current situation, eToro is reducing the leverage available for new positions in the banking sector.
European exchanges are off by between 2-3% on Monday, playing some catch-up to the Friday declines in the US.
Signature Bank did a lot of business with crypto related companies, including GCEX.
Several hours after the DFS announced it had taken Signature Bank into possession, Coinbase quantified its exposure to the bank.
Circle claims the $3.3B USDC reserve deposit held at Silicon Valley Bank will be fully available when US banks open on Monday morning.
Several hours after the DFS said it had taken possession of Signature Bank, Paxos estimated its exposure to the bank at $250 million.
The New York DFS has taken possession of Signature Bank, pursuant to Section 606 of New York Banking Law, in order to protect depositors.