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Crypto banks borrow billions from home-loan banks to plug shortfalls

wsj 4 min read . Updated: 22 Jan 2023, 06:42 PM IST Eric Wallerstein, The Wall Street Journal
Deposits declined at Signature in 2022 for the first time in its two-decade history, dropping below $89 billion from nearly $103 billion at the start of the yearPremium
Deposits declined at Signature in 2022 for the first time in its two-decade history, dropping below $89 billion from nearly $103 billion at the start of the year

Signature and Silvergate turn to government-chartered lenders after customer withdrawals surge

Two of the biggest banks to cryptocurrency companies are rushing to stem a flood of customer withdrawals by borrowing billions of dollars from Federal Home Loan Banks, the system originally designed to support mortgage lending in the 1930s.

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