Cryptocurrency - Aliff Capital

Signature Bank, Cryptocurrency Strategy and its Downfall

Mar 13, 2023Juliya RostovaBanking Industry, Economybanking regulation, Cryptocurrency, deposit insurance, depositors, FDIC, Federal Reserve, funding, government bailout, New York, senior management, Shareholders, Signature Bank, Silicon Valley Bank, systemic risk, unsecured debtholders

Signature Bank (SBNY) began focusing on cryptocurrency in its final years, accepting customers from the industry in 2018. By 2021, the bank received over 16% of its deposits from the sector and held reserve monies from the Circle-managed USDC. This strategy proved risky and earned the bank the reputation of a “crypto bank”. Founder DePaolo…

Tether Holdings: Inside the $68 Billion Stablecoin

Tether Holdings Ltd. operates the largest stablecoin in the cryptocurrency market with a value of $68 billion. However, its founders and owners have scant experience in managing finance at this scale. This article provides insight into the people behind Tether and the challenges it faces as a financial institution. I have always been opposed to…