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…
The current economic climate is characterized by uncertainty and inconclusive data. The Federal Reserve is trying to control inflation, but it remains at an intolerably high level, and the stock and bond markets are fluctuating. Although the labor market is tight, growth is slowing, and the housing market is weakening. Over the last week, the…
The global financial markets are currently experiencing a severe liquidity crunch, with investors selling off stocks and assets in droves. The S&P 500 alone lost a staggering $600 billion in just two hours, highlighting the intensity of the crisis. Cryptocurrency markets were not spared either, with a loss of $40 billion today. Additionally, the four…