Tag: Senate

US Lawmakers Criticize Former Signature Bank Chairman's Claims on Cryptocurrency's Role in Bank Collapse

US Lawmakers Criticize Former Signature Bank Chairman’s Claims on Cryptocurrency’s Role in Bank Collapse

Scott Shay, the former chairman of Signature Bank, faced criticism from US lawmakers for attributing his company's failure to cryptocurrency despite reportedly receiving substantial bonuses and stock options. On May 16, 2023, Shay testified before the Senate Banking Committee, explaining that Signature Bank began accepting deposits from companies involved in ...

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