Customers who had crypto deposits at Signature Bank have been issued a deadline to close the accounts and move their money.
Customers who had deposits at Signature Bank are facing a deadline concerning their crypto assets. has told crypto clients with deposits at the failed bank that they are facing a deadline to close their accounts and move their money, according to Bloomberg.
But that deal didn't include about $4 billion of deposits related to Signature’s digital-assets banking business, according to the FDIC. "We are reaching out to the depositors from Signature whose deposits were not included in NYCB’s bid," an FDIC spokesperson told Bloomberg.
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FDIC Gives Deadline Next Week for Crypto Depositors Stranded by Signature FailureThe Federal Deposit Insurance Corp. (FDIC) is trying to hurry the stranded crypto customers out the door of the temporary entity that holds the assets of the former Signature Bank, asking them to cash out by next week – whether they have a new bank or not.
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U.S. FDIC tells Signature Bank's crypto clients to close accounts by April 5The U.S. Federal Deposit Insurance Corp (FDIC) has informed collapsed lender Signature Bank's crypto clients that they have until April 5 to close their accounts and move their money.
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FDIC hires Newmark Group to sell billions of Signature Bank debt - sourceThe Federal Deposit Insurance Corp (FDIC) has hired Newmark Group Inc to sell about $60 billion of failed lender Signature Bank's loans, a person familiar with the matter told Reuters on Wednesday.
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The FDIC says First Citizens Bank will acquire Silicon Valley BankNorth Carolina-based First Citizens will buy Silicon Valley Bank, the tech industry-focused financial institution that collapsed earlier this month, rattling the banking industry and sending shockwaves around the world.
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Covering collapse of SVB could cost $20 billion, FDIC chairman to tell CongressThe FDIC estimates the cost to the Deposit Insurance Fund to cover the collapse of Silicon Valley Bank is $20 billion — including $18 billion to cover uninsured deposits, according to the chairman of the FDIC, Martin Gruenberg.
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Velshi: The FDIC should ensure all deposits to protect banksThe banking system in America relies on the deposits that go in and the trust customers have that banks will keep those deposits safe. There isn’t a political ideology tied to this process, it’s just the way things have successfully operated in the banking sector for decades. However, just because the American banking system depicts a super safe business model, does not mean government regulation wouldn’t help make the process even stronger. MSNBC’s Ali Velshi explains why the FDIC should insure every single dollar in bank accounts in the name of protecting the banking sector as a whole.
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