Tether reportedly had access to the U.S. banking system via Signature Bank, prompting questions about transparency and risk practices. A spokesperson claims they always had multiple banking channels available.
Tether, the firm behind the largest stablecoin by market capitalization, reportedly allowed its clients to send funds through Signature Bank’s payments platform — granting the firm access to United States banks.a pathway to the U.S.
banking system by instructing its users to send dollars though Signature’s Signet to its Bahamian partner Capital Union Bank. The report cited “people with knowledge of the situation,” who added this system was in place at the time regulatorsTether doesn’t have direct access to the US banking system, but for a while it found at least one pathway: through Signature Bank
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tether Gained Access to U.S. Financial System Using Signature Bank: BloombergStablecoin issuer Tether_to used Signature Bank to transfer U.S. dollar funds from the U.S. to the Bahamas, Bloomberg reported. HeleneBraunn writes
Read more »
FDIC to market failed Signature Bank loan portfolio in the summerFederal regulators said late Monday they expect to begin marketing failed Signature Bank’s loan portfolion later this summer. The portfolio, worth about $60...
Read more »
FDIC announces sale process of former Signature Bank loan portfolioThe Federal Deposit Insurance Corporation (FDIC) on Monday announced the marketing process for the about $60 billion loan portfolio retained in receivership following the failure of Signature Bank.
Read more »
WSJ News Exclusive | Signature Bank Insiders Sold $100 Million in Stock During Crypto SurgeInsiders at collapsed Signature Bank sold more than $100 million of shares in the years after the bank pivoted to attract crypto companies and became a stock-market darling, according to a WSJ analysis
Read more »
Unbound Finance Will Soon Allow Stablecoin Borrowing Against Uniswap LP Positions on ArbitrumWith UnboundFinance, Uniswap V3 LPs can borrow Unbound’s stablecoin, UND, interest-free, secured against their concentrated liquidity positions starting April 11. By shauryamalwa
Read more »
March's bank failures show options can be tricky even when retail traders pick big winnersThe trading halt for Silicon Valley Bank and Signature Bank created hurdles for traders who had bet that the stocks would fall.
Read more »