Signature Bank failed to understand risks associated with crypto: FDIC chair
Investigations around the collapse of Signature Bank point toward illiquidity circumstances and poor management. However, the Federal Deposit Insurance Corporation (FDIC) chairman, Martin J. Gruenberg, believes that the bank’s failure to understand the risks associated with cryptocurrencies expedited its fall. Speaking at the hearing on “Oversight of Prudential Regulators,” Gruenberg highlighted the recent failures of…
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