#Gruenberg said the deposits that were not included in the bid from a New York Community #Bancorp subsidiary for Signature would be returned “by early next week”

Martin #Gruenberg, chair of the United States Federal Deposit #Insurance Corporation,

#Gruenberg gave a preliminary estimate of $22.5 billion for the cost to the Deposit #Insurance Fund for resolving SVB and Signature Bank losses. Echoing several government officials in recent days, he added:

#Gruenberg noted that, like #Silvergate Bank, SVB had concentrated its activities in a single sector — venture capital firms.

#Gruenberg’s narrative began with the closing of digital asset-focused #Silvergate Bank, which was announced on March 8, although that story began with the bankruptcy of FTX.

FDIC chair Martin #Gruenberg spoke about the causes of the failures of #Silicon Valley Bank (SVB) and Signature Bank, including the role of digital assets and the agency’s responses to the crisis.

It all started with FTX, FDIC head Martin #Gruenberg said; he emphasized that the #American banking system remains sound.

FDIC chair Martin #Gruenberg and Federal Reserve vice chair for supervision Michael Barr are #expected to appear before lawmakers to help them understand the nature of the current crisis.

FDIC chair Martin #Gruenberg and Fed Vice Chair for Supervision Michael Barr are #expected to testify.

In response to the #SBF’s request, #Gruenberg agreed to meet the duo, as shown in the leaked email below.

In the latter half of the email, #Wetjen told #Gruenberg that #FTX is in the “unusual position of begging the federal #government to regulate us.” He further added:

In response to the SBF’s request, #Gruenberg agreed to meet the duo, as #shown in the leaked email below.

 Federal #Deposit Insurance Corporation (FDIC) chairman Martin #Gruenberg received an invitation to meet SBF on June 13, 2022, the Washington Examiner reported.

Despite the #regulator’s denial of such accusations, Emmer’s letter to the FDIC’s #Gruenberg implicitly asks the chairman whether the FDIC specifically directed banks not to provide banking services to cryptocurrency firms.

 Emmer asked #Gruenberg if the FDIC instructed banks not to provide banking services to #cryptocurrency firms.