A recent survey by the Federal Deposit Insurance Corporation (FDIC) reveals that in 2023, cryptocurrency usage was significantly more prevalent among underbanked households compared to fully banked households in the U.S. The FDIC's report published on November 12 surveyed approximately 60,000 households and found that 6.2% of underbanked households—those with ...
Cryptocurrency exchange Coinbase has filed a lawsuit against two U.S. federal agencies, the Securities and Exchange Commission (SEC) and Federal Deposit Insurance Corporation (FDIC), for allegedly failing to comply with its Freedom of Information Act (FOIA) requests. The complaint, which was filed today, June 27, 2024, at the U.S. District ...
During the recent hearing on prudential regulator oversight conducted by the U.S. House of Representatives Financial Services Committee, Martin Gruenberg, Chair of the Federal Deposit Insurance Company (FDIC), disclosed that inadequate management and a lack of liquidity as the primary factors behind the collapse of Signature Bank. Gruenberg specifically pointed ...
The United States Federal Deposit Insurance Corporation (FDIC) has announced that Signature Bank customers who hold crypto accounts have until April 5, 2023, to withdraw their funds and find another banking option or risk closure of their accounts. Customers were advised to verify the address listed on their registration is ...
The Federal Deposit and Insurance Corporation (FDIC) has announced that First Citizens Bank, headquartered in North Carolina, has acquired all of Silicon Valley Bank's deposits and loans through a purchase and assumption deal. Today, we entered into an agreement with First-Citizens Bank & Trust Company to purchase and assume all ...
According to reports, US officials are exploring the possibility of temporarily extending Federal Deposit Insurance Corporation (FDIC) coverage to all deposits in response to concerns raised by a group of banks about a potential financial crisis. The Treasury Department staff are examining whether federal regulators have the necessary emergency authority ...
The Federal Deposit Insurance Company (FDIC) of the United States has stated that any investor who wishes to purchase Signature Bank must agree to discontinue all the bank’s cryptocurrency-related activities. Signature Bank, headquartered in New York, and California-based Silicon Valley Bank (SVB) were known for their favourable stances towards cryptocurrencies ...
