Crypto banking in the U.S. has faltered, leaving many firms looking for new financial homes, but none of the major U.S. banks -- each of them questioned by CoinDesk -- is throwing open its doors. jesseahamilton reports
Explore the policy fallout from the 2022 market crash, the advance of CBDCs and more.The biggest U.S. banks haven't stepped forward to welcome homeless crypto businesses scrambling for banking services after fleeing the wreckage of Silvergate Bank, Signature Bank and Silicon Valley Bank.
The banks CoinDesk surveyed represent about $13 trillion in assets – or about 56% of the U.S. banking sector. Not even BNY Mellon – known to handle custody for crypto companies’ assets, such as much of the liquid cash in stablecoin issuer Circle Internet Financial’s reserves – chose to openly address the situation, even though it has expanded its Circle business amid the turmoil.The largest U.S.
“As long as a crypto company can demonstrate its ability to be a good bank customer, it should be able to be banked,” said Sheila Warren, CEO of the Crypto Council for Innovation.could open them up to questions about their own strengths.
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