Customers of Coinbase Global Inc. have been advised that the company would discontinue its support for the real-time payment network known as Signet, which is operated by Signature Bank. According to a report (1) by the Wall Street Journal (WSJ), Coinbase notified its customers that the payment network of the defunct Signature Bank would no … Read more
The Gemini exchange has reassured its consumers that all GUSD reserves are held with respectable banks, including Fidelity. The weekend’s failure of Signature Bank & Silicon Valley Bank to remain open was detrimental to the overall state of the banking industry in the United States. On the other hand, Gemini Trust Company LLC, an experienced … Read more
Nonetheless, Coinbase anticipated the full recovery of its cash and stated that it had over 240 million dollars in corporate funds held at Signature Bank. Following the closure of Signature Bank by the Treasury, several cryptocurrency companies, including Paxos, have acknowledged the extent of their engagement with the financial institution. During an unprecedented week in … Read more