Crypto collapse: FTX’s fall is one piece of a long, cold, contagious crypto winter
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Now-defunct crypto bank served Tether.
Signature, Bank, closed by regulators almost a month ago, was an important ramp for controversial stablecoin firm Tether, Bloomberg reports. Its Signet payments platform was part of how Tether’s clientele could send dollars to Capital Union Bank.
The CTO of Tether said that the stablecoin “doesn’t have any exposure” to Signature, but the setup was still in place when Signature was shuttered.
Signature’s Signet Provided Path for Tether Holders
[Bloomberg.com]
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