The claim that the events after the closure of the crypto-friendly Signature Bank by the US government could be a “hard message to the crypto money industry” drew attention.
Signature Bank board member and former MP Barney Frank in a recent CNBC interview, A serious message to be given to the crypto money industry He claimed it might.
While US-based banks have been grappling with serious problems in recent days, the crypto-friendly Signature Bank announced on March 12. New York Department of Financial Services (NYDFS) by Federal Insurance Corporation (FDIC) was closed by his trusteeship. From this incident coinbase, Paxos (USDP) And Celsius Network (CEL) important crypto money institutions such as
US representative of the bank Barney Frank, what happened itself that you shocked While explaining, behind all these events, there is a company targeting the crypto money sector. “dirty message” suggested it might. In the details of his statement, Frank explained this situation that Signature Bank fell into, especially with New York regulators, “crypto is toxic, be carefulHe stressed that he created it to convey the message:
Although there was no good, compelling reason to do so, they shut us down because they wanted to show that banks shouldn’t be involved in crypto. We stabilized the situation until Sunday. But I believe regulators, especially New York state regulators, want to send the message that crypto is toxic.
Signature Bank’s $200 billion bankruptcy of Silicon Valley Bank (SVB) “poster boyEmphasizing sarcastically that he was appointed as ”, Frank demanded that the bank be seized. not even a real reason expressed.
Frank made the following striking statements in his interview with CNBC:
I see no objective reason to confiscate Signature Bank after what happened. I think part of it was just that the regulators wanted to send a very strong anti-crypto message. We became the poster child because there was no fundamental bankruptcy.