COIN - Coinbase had $240B cash balance at Signature Bank expects full recovery
2023-03-12 20:24:11 ET
- After New York state took possession of Signature Bank ( SBNY ) and transferred it to the Federal Deposit Insurance Corp. (FDIC), Coinbase ( NASDAQ: COIN ) on Sunday said it had a cash balance of ~$240B at Signature Bank as of Friday.
- "As stated by the FDIC, we expect to fully recover these funds," the company said.
- Earlier on Sunday, the U.S. Treasury Department, FDIC, and Federal Reserve said SBNY's depositors will have access to all their funds with no expenses borne by taxpayers.
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Coinbase had $240B cash balance at Signature Bank, expects full recovery