The US Authorities Accountability Workplace, or GAO, has launched its preliminary assessment of the failures of Silicon Valley Financial institution and Signature Financial institution (OTC:) – and included publicity to cryptocurrency business deposits.
In a report launched on Might 11, the GAO stated “poor governance and unsatisfactory threat administration practices” led to the collapse of Signature Financial institution in March. The GAO didn’t explicitly level to digital belongings as the reason for the financial institution’s failure, however did point out publicity to the crypto business alongside potential causes.
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