Coinbase Holds $240M in Signature Bank: Expects to "Fully Recover" Funds
New York financial regulators shut down Signature Bank on Sunday. Customers, however, will be bailed out by the U.S. Treasury, Federal Reserve, and Financial Deposit Insurance Corporation. Notably, all depositors will have access to their funds on Monday. Now, as per the latest revelation on Twitter, Coinbase holds $240 million in the now-collapsed financial institution. JUST IN: Coinbase $COIN says it holds $240 million in now-collapsed Signature bank. — Watcher.Guru (@WatcherGuru) March 12, 2023 Also Read: US Regulators have Closed Signature Bank Coinbase expects to “fully recover” funds Coinbase went on to assure users that capital fund “continues to be protected” by FIDC pass-through insurance. At the moment, nevertheless, the bank is facilitating client cash transactions via other banking partners. The exchange went on to explain that it expects to “fully recover” the $240 million worth of funds from the bank. As ...