Amid crashing stock prices, the Federal Deposit Insurance Corporation (FDIC) points fingers at crypto and poor management for Signature Bank’s demise.
Remarking at a US House of Reps hearing, FDIC chair, Martin Gruenberg, attributed Signature’s failure to ignorance of the risks associated with cryptocurrencies.
A related report noted the FDIC investigation into the collapse of the crypto-friendly Signature Bank revealed a lack of liquidity and poor management. …
Read More: FDIC Chair Criticizes Signature Bank’s Lack of Understanding on Crypto Risks