According to The Wall Street Journal, the United States Federal Home Loan Banks System is financing billions of dollars to two of the biggest cryptocurrency banks in an effort to lessen the impact of an increase in withdrawals.
According to Silvergate's report, the average digital asset customer deposits in the fourth quarter of 2022 was $7.3 billion, a significantly lower amount compared to the prior quarter when deposits reached $12 billion.
Traditional finance has remained immune to crypto contagion following the collapse of FTX, but FHLB loans to crypto-exposed banks could increase that risk, notes the report. In comments to WSJ, Senator Elizabeth Warren noted that “this is why I’ve been warning of the dangers of allowing crypto to become intertwined with the banking system," claiming that taxpayers should not"be left holding the bag for collapses in the crypto industry", which she called a market full of"fraud, money laundering and illicit finance."
FTX's group collapse caused a ripple effect across the crypto industry, affecting many companies. In the most recent development,
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Building ChatGPT’s AI content filters devastated workers' mental health, according to new reportA new report from 'Time' magazine paints a grim picture of labor conditions involved in training AI to avoid harmful and graphic content.
Consulte Mais informação »
Elizabeth Holmes living in $13,000-per-month estate, showing ‘no remorse’: fedsElizabeth Holmes living in $13,000-per-month estate, showing 'no remorse': feds
Consulte Mais informação »
David Crosby, ‘legendary’ music icon of the 60’s, dies at 81, according to reportsCrosby’s wife said “his legacy will continue to live on through his legendary music.”
Consulte Mais informação »
David Crosby, ‘legendary’ music icon of the '60s, dies at 81, according to reportsCrosby’s wife said “his legacy will continue to live on through his legendary music.”
Consulte Mais informação »
McGregor Avenue construction going smoothly so far according to business ownerBusinesses are still open in this area, and while it isn’t an issue now, one owner admits the construction could cause problems in the near future.
Consulte Mais informação »
This Is the Best Hidden Gem Restaurant in the World, According to Tripadvisor UsersWhat makes a hidden gem? There probably aren't a lot of tourists around.
Consulte Mais informação »