Two days later, Santa Clara, California-based Silicon Valley Bank (SVB), a go-to institution for venture-backed tech startups, was taken over by the California Department of Financial Protection and Innovation, which said the firm had “inadequate liquidity and insolvency.” This past Sunday, New York-based Signature Bank was closed by state regulators in what they called an effort “to protect investors.” Like Silvergate, Signature Bank operated its own real-time payments platform, Signet.
Related posts
-
Law firm impersonators target crypto scam victims, FBI alarms
The FBI has issued a public warning that fraudsters posing as lawyers are contacting crypto scam... -
Crypto Execution-Only Platform Crossover Markets Raises $12M
Illuminate Financial founder Mark Beeston will join Crossover’s board of directors. Existing investors include Flow Traders,... -
Ron Wyden on FISA Reform and Crypto
At home, the issue that I know, will present as the second word is bill, it...