Bitcoin (BTC) enthusiast and US Senator Cynthia Lummis is slamming the former chairman of collapsed Signature Bank, alleging that the executive is avoiding taking responsibility for the institution’s demise.
In a Senate Banking Committee hearing, the Wyoming Republican tells former Signature Bank chair, Scott Shay, that he and his colleagues may be unfairly “deflecting blame” onto the digital asset industry, rather than the bank’s own negligence.
Signature Bank was one of the few crypto-friendly banks in the US before its disintegration and had worked with several heavyweights in the industry, including Tether, the world’s largest stablecoin issuer, and Binance, the world’s largest crypto exchange by volume.
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Following the institution’s collapse, there were heavy implications that Signature Bank’s downfall stemmed from its association with the crypto
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