Crypto mining firm Marathon Digital Holdings has assured investors that the firm’s cash deposits at Signature Bank are secure and available for use as of Mar. 13.
In a statement following the closure of New York’s Signature Bank, Marathon disclosed that it has approximately $142 million in cash deposits at Signature Bridge Bank.
The Signature Bridge Bank was set up by the United States Federal Deposit Insurance Corporation (FDIC) to manage customer accounts at the recently shut-down Signature Bank. The bridge bank is aimed at ensuring the flow of funds is not interrupted while the regulator searches for a buyer to acquire the assets of Signature Bank.
Marathon Digital Holdings’ deposits that were held at Signature Bank, New York, NY are secure and available for use as of Monday,
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