Earlier this month, when Signature Bank along with Silicon Vally Bank, New York Community Bancorp agreed to absorb Signature Bank's accounts.
But it doesn't want anything to do with the crypto deposits.
The FDIC warned crypto account holders to transfer their assets by April 5, 2023, or the account will be forcibly closed and the owner will receive a check in the mail.
Here are the details.
It's a bit of a shame to see the distrust toward crypto. Especially after Treasury Officials agreed that crypto didn't play a major role in the banking crisis.
Oh well. Haters are going to hate.
In other news … there are rumors Ripple (XRP) will win its case against the SEC.
Read more here.
These two stories paint a perfect picture of the crypto landscape currently …
U.S. regulators want to control crypto, but they don't know how or what to do with it.
We'd give it a go … but that's not really our job.
We're much more focused on the profitable spikes as a result of crypto volatility.
That's why XRP is still at the top of our watchlist.
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