HERE WE GO: FDIC Demands Signature Bank Buyers Stop All Crypto Business: Report

Instead of ridiculing, how about offering alternatives.

The risks I see I folks playing the crypto games because they consider it safe. Only to find there's no materiel market when the CBDC system lands.

What will happen in that market?

Yep.

Just like the Petro Dollar, eh?

You're a fucking schmuck lol.

That is reasonable and understandable for the fdic to do that

Crypto is a scam and a wTe of electricity to begin with

The sooner we get rid of it the better

Instead of ridiculing, how about offering alternatives.

The risks I see I folks playing the crypto games because they consider it safe. Only to find there's no materiel market when the CBDC system lands.

What will happen in that market?

He's got nothing to offer sense he believes it was created by CIA.

Toolshed.

Funny that its failure had nothing to do with crypto and everything to do with poor management and the corrupt tradfi system.

They are afraid of crypto because they can’t control and manipulate it.


To those who think crypto is “just air”….seriously read about why Bitcoin was created. It was in direct response to the 2008 fiasco. It’s something they can’t manipulate like they do the current system.

No, it doesn’t mean gold is bad, of course it’s good, it doesn’t need to be an either/or thing.

This website has changed a lot from when I joined. Not even worth logging in anymore. GLP is anti Bitcoin? Really? Only people I know who are absolutely anti Bitcoin are leftists who love everything big govt control.

If you are against big controlling govt...the ESTABLISHMENT...the matrix of this corrupt banking and financial debt ridden system, you should be pro Bitcoin.

I learned about Bitcoin on GLP years ago. Had I listened I wouldn't be working for the man still today. You people talking shit are likely govt shills or just complete dumbasses that have for whatever reason infiltrated GLP.

-SVB
-Signature
-Silvergate

The biggest banks for crypto companies and customers.

They had to be taken down to pave the way for CBDC.

you belong in jail

Crypto is a joke. Imagine buying f-ing NOTHING! Zerobrains must get paid to promote this worthless sht. So banks should have never gotten involved in it. Everybody makes mistakes.

GFY SHILL. Show me an asset that has performed better in the last 10 years. Thats right you can't.

How has it performed over the last year, shit for brains? Ask anyone who bought it in 2021 how their investment is paying off, then go fuck yourself.

So your argument is because one thing is junk, this other junk is not so bad? Jesus. I knew crypto people were retarded, but this takes it to a whole new level.

They really are stuuuupid.

Talk about the ultimate fiat garbage.

To date two fads have shocked me.

The first one was crap err I mean rap 'music'. When my wife and I first heard it we laughed our asses off and said it will die out quickly. We underestimated just how many idiots were out there.

The second was cryptocrap. Again, I laughed my ass off thinking there is no way they are going to get people to buy this made up crap. Again I underestimated just how many idiots are out there.

They really are stuuuupid.

Talk about the ultimate fiat garbage.

To date two fads have shocked me.

The first one was crap err I mean rap 'music'. When my wife and I first heard it we laughed our asses off and said it will die out quickly. We underestimated just how many idiots were out there.

The second was cryptocrap. Again, I laughed my ass off thinking there is no way they are going to get people to buy this made up crap. Again I underestimated just how many idiots are out there.

FDIC Demands Any Buyer of Signature Bank Give Up on Crypto: Reuters

The FDIC has reportedly stated that interested buyers in the now-defunct Signature Bank must also give up their ties to crypto.

Stacy Elliott
By Stacy Elliott

As the Federal Deposit Insurance Corporation prepares to auction off Signature Bank, it has made it clear that the buyer has to stop doing business with crypto, two anonymous sources told Reuters.

If it's true, it would seem to confirm suspicions that regulators targeted Signature Bank because it did business with the crypto industry.
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Earlier this week, Barney Frank, an ex-congressman who helped pen the Dodd-Frank Act, told CNBC that banking regulators shuttered the bank to send "a very strong anti-crypto message." Frank also served on the Signature Bank board.

The New York Department of Financial Services was quick to dismiss his claim, saying in a statement the decision to place Signature into receivership "was based on the current status of the bank and its ability to do business in a safe and sound manner."

But now, there are signs that the FDIC wants to make sure the bank doesn't return to the private sector with its crypto business intact. In fact, only bidders with existing banking charters will be allowed to review the bank's financials before submitting an offer, according to Reuters.

The FDIC said it will accept bids until tomorrow for Signature Bank, which it shuttered on Sunday, and Silicon Valley Bank, which it shut down on March 10. For Silicon Valley Bank, or SVB, this will be the regulator's second attempt to sell the institution after a failed auction on Sunday.

The FDIC tried to sell what remains of SVB over the weekend, but couldn't find a buyer willing to acquire the entire bank. The sources told Reuters that the FDIC would prefer to auction off both banks in their entirety, but will entertain bids for individual parts if it's unsuccessful.

Signature Bank shares started trading on Nasdaq under the SBNY ticker in 2004. By early 2022, its share price hit an all-time high of $365.71 per share.

The bank also offered an instant settlement network for digital payments, Signet, which was a rival to a similar service at Silvergate Bank.

By the time Nasdaq halted trading on SBNY on March 10, it's shares were trading for $70.

[link to decrypt.co (secure)]

Deep understanding of nothing relevant. It takes as much faith to believe in crypto as is does to believe in the fiat trash you affiliate yourself with. Actually there’s more believability to crypto.

Blockchain is a technology and has it's uses but it is NOT a 'currency'.

The sooner you understand that the sooner you will unload your cryptocrap.

It is the ultimate greater fool theory.

Blockchain is a technology and has it's uses but it is NOT a 'currency'.

The sooner you understand that the sooner will unload your cryptocrap.

It is the ultimate greater fool theory.

-SVB
-Signature
-Silvergate

The biggest banks for crypto companies and customers.

They had to be taken down to pave the way for CBDC.