2 years ago
"Regulators wanted to nonstop a precise beardown anti-crypto message,” said erstwhile House of Representatives subordinate and Signature Bank committee subordinate Barney Frank.
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Barney Frank, a erstwhile subordinate of the United States House of Representatives, has reportedly suggested New York regulators closed the crypto-friendly Signature Bank arsenic portion of a seeming amusement of force.
According to a March 13 CNBC report, Frank — besides a committee subordinate of Signature Bank — said the lone denotation of problems astatine the slope was a deposit tally of much than $10 cardinal connected March 10, which helium called “purely contagion” from the Silicon Valley Bank fallout. The New York Department of Financial Services took power of Signature on March 12 and appointed the U.S. Federal Deposit Insurance Corporation to grip the security process.
“I deliberation portion of what happened was that regulators wanted to nonstop a precise beardown anti-crypto message,” said Frank. “We became the poster lad due to the fact that determination was nary insolvency based connected the fundamentals.”
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