Closure of Crypto-Friendly Banks Is ‘Not a Policy Issue’: Former NYDFS Superintendent

No I don't suppose from a protection motive That they said we're going to close down This monetary establishment because of we want to ship a Message to the crypto commerce I don't Believe that nevertheless to the extent that There had been withdrawals or one factor from Cryptocurrency prospects that created Part of the hazard I don't truly Again don't know who the patrons that Were withdrawing funds that created the Issue the coordination from the White House was all part of the Triggering of the systemic hazard Exception which the treasury secretary Had to do and I think about that truly They wished to stem the tide of Um of of contagion hazard throughout the Greater banking commerce now I really feel It's justifiable to to ask why Weren't completely different points achieved perhaps to Save Signature Bank like what's being Done with First Republic I really feel these Are authentic questions to spice up nevertheless I you Know and and so nevertheless I don't suppose you Know you shut down the monetary establishment resulting from A protection motive you do because of it's hazard Management or it's Financial picture is Unsafe and unsound and it seems to me That at that closing date a fantastic Argument could also be made that it was unsafe Or unsound because of it lacked cash it ran Out of money