Customer Funds
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Signature Bank Denies Storing Gemini’s Funds
On March 13, Gemini, the cryptocurrency exchange, tweeted that Signature Bank had neither Gemini’s customer funds nor Gemini USD (GUSD) reserve funds. Gemini: No risk exposure to Signature Bank Analysis based on this information:Gemini, one of the leading cryptocurrency exchanges around the globe, made a startling announcement that its banking partner, Signature Bank, was no longer in possession of its customer funds or GUSD reserve funds. This sent ripples throughout the cryptocurrency industry, causing many to question the safety of storing their funds in crypto exchanges. In response to this concern, Signature Bank has released a statement that appears to be a denial of Gemini’s claim. The bank stated that it still holds customer deposits and funds for the exchange, and that there has been no changes to their relationship. However, this statement seems to create more confusion than clarification, as it does not directly address the allegations made by Gemini. The truth of the matter is that holding funds…
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FTX Might Recover $2.5 Billion of Genesis Loans: A Strategic Solution
On March 7, the FTX creditor tweeted that FTX might be recovered $2.5 billion of Genesis loans, which were repaid fraudulently from stolen customer funds. \”In …
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Silvergate Bank Requests Separation of FTX Customer Lawsuits
It is reported that Silvergate Bank said that it requested the court to separate the FTX customer litigation cases. In the previous federal lawsuit, Silvergate…
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Gemini Suspends Exchange Operations with Silvergate Bank
According to reports, Gemini, the cryptocurrency exchange, said on Twitter that it was actively monitoring the situation of Silvergate Bank, but it did not dep…
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FTX Loses $8.9 Billion worth of Customer Funds
According to reports, according to Watcher. Guru, FTX confirmed that $8.9 billion of customer funds were lost.
FTX confirmed that $8.9 billion of custo…
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Traditional Financial Companies and Cryptocurrency Custodians to Benefit from US Regulatory Changes
On February 22, it was reported that due to the existing license portfolio and the credibility in handling customer funds, traditional financial companies and …