The U.S. Federal Deposit Insurance Corp. (FDIC) has left the banks it oversees unequipped to navigate the regulator’s crypto expectations, according to the agency’s inspector general, so the FDIC agreed to field a new strategy by January.
OKCoin Accused by FDIC of Making False Claims About Customer Protections
OKCoin must scrub misleading statements that suggest its customers’ accounts are protected by the U.S. Federal Deposit Insurance Corp. (FDIC), the U.S. banking regulator ordered late Thursday, complaining the company is making false claims.
First Republic’s crisis is not an isolated incident – suggests JPMorgan exec
The CIO of JPMorgan Asset Management said it’d be “naive to say that this is just limited to First Republic.”
FDIC alleges Cross River engaged in ‘unsafe’ lending practices
Cross River is yet to admit nor deny the allegations that it “engaged in the unsafe or unsound banking practices” related to its lending activity in 2021.
Signature’s crypto clients told to close their accounts by April 5: Report
Any crypto deposits not transferred to another bank by April 5 will be liquidated and a check mailed to the client’s address.
Bitcoin Emerges as Safe Haven as Traditional Finance Faces Turmoil
Conflicting data creates the question of how the Fed will react to both rising inflation and failing banks – and whether bitcoin will be a lifeboat.
FDIC to attempt another auction of Silicon Valley Bank: Report
Regulators are planning another auction for Silicon Valley Bank after the previous attempt to find a new owner failed.
Bill Ackman warns US gov’t: Fix mistake in ‘48 hours’ or face ‘destruction’
Billionaire Bill Ackman said that SVB’s senior management made a “basic mistake” but should be fired.