Crypto firm Coinbase $240mn cash balance at Signature Bank, expects full recovery

The $240bn figure comes from here.

$240mn sounds more reasonable to me.

Signature Bank was shut down by the New York state

• NY State took possession and transferred it to the Federal Deposit Insurance Corp. (FDIC)

Coinbase says it had a cash balance of circa USD240mn as of last Friday

Coinbase says:

• "As stated by the FDIC, we expect to fully recover these funds"

Coinbase is referring to the announcement that the U.S. Treasury, FDIC, and Federal Reserve Federal Reserve The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the The Federal Reserve System, more commonly known as the Fed, represents the central banking system of the United States. Like other central banks globally, the Fed is responsible for monetary policy, in this case in the US.The Fed is one of the most watched and followed entities for forex traders, given its material impact on the US dollar. Founded initially in 1913, the Fed was created to perform a wide range of functions. This includes stabilizing and maintaining flexible monetary policy in the Read this Term said SBNY's depositors will have access to all their funds with no expenses borne by taxpayers. Links to all the earlier news can be found from here:

• JP Morgan "continue to look for a 25bp hike at next week's" FOMC meeting

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Will $240mn be paid out to Coinbase? That'll be an interesting test indeed.