Hey degens, here is TL;DR for today:

  • Signature Bank investigated for money laundering prior to demise
  • US banking system outlook downgraded to NEGATIVE
  • The Banking Crisis Is Not Crypto’s Fault
  • US Fed announces $25B in funding to backstop banks

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Signature Bank investigated for Money Laundering prior to demise

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Cryptocurrency-friendly Signature Bank was reportedly being investigated by the Justice Department and the Securities and Exchange Commission (SEC) before it collapsed, according to Bloomberg. The Justice Department was looking into whether Signature took adequate measures to detect money laundering by clients, while the SEC was also examining the bank. The details regarding the nature of the SEC’s probe were not reported, and it’s unclear when the investigations began and what effect, if any, they had on the recent decision by New York state regulators to close the bank. It’s reported Signature and its staff are not accused of wrongdoing, and the investigations may be finalized without any charges or further action taken by the DOJ or SEC.

Source: Crypto Slate

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Binance NFT Announces Integration With Polygon Network

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The integration of Polygon network further elevates Binance NFT to a multi-chain, open marketplace ecosystem, where users can now explore and trade a wider variety of NFTs across multiple blockchains, including BNB Smart Chain (BSC), Ethereum (ETH) network, and Polygon (MATIC) network, from their Binance accounts.

Key Benefits:

Users will now be able to buy, deposit, withdraw and list NFTs from the Polygon network on the Binance NFT Marketplace.

By holding MATIC or any token in their spot wallets, users can trade NFTs on the Binance NFT Marketplace.

Note:

Currently, only selected ERC-721 NFT Collections on the Polygon network are available on the Binance NFT Marketplace. Binance NFT will integrate more NFT collections on a regular basis. Please refer to the FAQ for the list of Supported Polygon NFT Contract Addresses.

Users will need to hold MATIC in their spot wallets in order to withdraw Polygon NFTs.

Source: Binance

Silvergate will liquidate bank, wind down operations

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Silvergate Bank announced a voluntary wind-down of their business, which means they will be shutting down their operations and tying up any remaining business before closing for good.

Investors were not happy with this news, as the stock took a big hit and the total market capitalization for Silvergate fell to $1 trillion.

The reason for the wind-down is unclear, but it’s possible that Silvergate Bank was struggling to keep up with the fast-paced and ever-changing world of banking, or maybe they simply weren’t making enough money to justify continuing operations.

Source: Yahoo Finance

Binance US wins court approval to acquire Voyager’s assets

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Binance US is leveling up and getting ready to acquire Voyager’s assets. It’s like they’re becoming the boss of the crypto world!

The courts gave their approval, so it’s a done deal. Binance US is ready to take over the Voyager spaceship and explore new frontiers in the crypto universe.

This acquisition could mean big things for Binance US and their customers. With Voyager’s assets in their back pocket, they’ll have more tools and resources to help people navigate the wild and crazy world of cryptocurrency. Buckle up, folks – it’s going to be a wild ride!

Source: AMB Crypto

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