'I think part of what happened was that regulators wanted to send a very strong anti crypto message,' Frank explained during his interview.
. Although the former politician saw “no real objective reason” for Signature to be seized and shut down, he suspected that U.S. regulators may have been sending a message.
“I think part of what happened was that regulators wanted to send a very strong anti-crypto message,” Frank stated. “We became the poster boy because there was no insolvency based on the fundamentals.” Frank also mentioned that withdrawals slowed on Sunday, and Signature executives believed the situation was resolved. Additionally, he asserted that the bank’s senior staff attempted to explore “all avenues” to resolve the financial institution’s liquidity issues. Frank was a co-sponsor of the 2010 Dodd-Frank Act, which made significant changes to how U.S. banking and the financial regulatory system are currently conducted. However, the policy framework has been partially repealed, and some U.S.
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