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Paxos currently holds $250M at Signature Bank and holds private deposit insurance well in excess of our cash balance and FDIC per-account limits. Seeking private deposit insurance is part of our conservative approach to managing customer assets exceeding FDIC insurance limits.
— Paxos (@PaxosGlobal) March 12, 2023
As of close of business Friday March 10 Coinbase had an approximately $240m balance in corporate cash at Signature. As stated by the FDIC, we expect to fully recover these funds. https://t.co/XY5L7m4RMs
— Coinbase (@coinbase) March 12, 2023
1/ Following the confirmation at the end of today that the wires initiated on Thursday to remove balances were not yet processed, $3.3 billion of the ~$40 billion of USDC reserves remain at SVB.
— Circle (@circle) March 11, 2023
#tether doesn't have any exposure to Signature Bank.
— Paolo Ardoino 🍐 (@paoloardoino) March 12, 2023
This Week with George Stephanopoulos, ABC News incorrectly used our Signature Bank logo in reference to the issues facing Signature Bank New York. There's no affiliation between the two organizations and our Signature Bank is stronger than ever and has no cryptocurrency exposure.
— Signature Bank (@SignatureBnkChi) March 12, 2023