Due to various factors, the crypto industry faces increasing difficulty finding banking services in the US, according to a Bloomberg report, banks have hesitated to work with crypto customers. Recent events such as the closure of crypto-friendly Silvergate Capital Corp. and the seizure of Signature Bank by regulators have made banks even warier about providing […]
The United States Office of the Comptroller of the Currency (OCC) officially announced the establishment of its Office of Financial Technology on March 30. The new office will broaden the OCC’s technology focus and help it stay abreast of the rapid developments in the banking industry, it said. The Office of Financial Technology will open […]
Galaxy Digital CEO Mike Novogratz believes most «bad actors» and «terrible risk management practices» in crypto have been swept away. For companies that have managed to survive thus far, the risk going forward is a lack of capital flowing into the space, with institutional adoption still shy following the slump in cryptocurrencies and various bankruptcies […]
In a recent interview with Yahoo Finance, crypto analyst Scott Melker stated that there is a «clear directive» to crush banking access for the crypto industry. He believes that regulators are working hard to cut off access for crypto companies. Melker believes that although cryptocurrencies like Bitcoin and Ethereum are «too big to fail,» regulators […]
There’s nothing more some in the crypto industry would like than to seize upon the failures of Silicon Valley Bank, Signature Bank and Silvergate to sow distrust of traditional financial institutions. And while it doesn’t seem these banks did anything illegal at this juncture, the events may indicate a broader, perhaps industry-wide, failure. In fact, […]