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"Barney Frank Was Right About Signature Bank. The FDIC all but confirms it closed the bank over crypto." https://archive.is/MEADq#selection-133.5-137.57 https:
by hammock 4y ago
"Barney Frank Was Right About Signature Bank. The FDIC all but confirms it closed the bank over crypto."
https://archive.is/MEADq#selection-133.5-137.57 https://archive.is/MEADq#selection-133.5-137.57
"Everything But the Crypto: Flagstar Scoops Up Failed Signature Bank. While the Federal Deposit Insurance Corporation (FDIC) denied reports that any buyer of Signature Bank would need to divest its crypto business, the buyer, New York Community Bancorp-owned Flagstar Bank, did anyway."
https://www.pymnts.com/cryptocurrency/2023/everything-but-the-crypto-flagstar-scoops-up-failed-signature-bank/ https://www.pymnts.com/cryptocurrency/2023/everything-but-th...
- robbiep 4y agoFlagstar decided ‘shit no, I’m not going to take over a book of shitty crypto assets valued at god knows what they could be a massive liability’. The key validator here is that they also dumped a heap of mortgages and loans that they considered toxic. The value of these other assets that Flagstar decided to not write into their purchase agreement was $60 billion under current accounting. They just decided that the crypto is no good. Along with 60 bn worth of other stuff. And they can stick that with the FDIC to deal with. [0] https://newsletterhunt.com/emails/27219 https://newsletterhunt.com/emails/27219 (last section, meanwhile in America)