U.S. Cryptocurrency Bank Reveals Massive Borrowings to Respond to Liquidity = Report

Borrowed by Signature and Silvergate Two major U.S. crypto banks have borrowed billions of dollars from the Federal Home Loan Bank (FHLB) to meet an increase in customer withdrawals. 21, the Wall Street Journal reported. In Q4 2022 (October-December), Signature Bank borrowed nearly 1.3 trillion yen ($10 billion) from FHLB, and Silvergate Capital, which owns Silvergate Bank, also borrowed at least about 4,700 yen in the same period. 100 million yen ($3.6 billion) in loans. What is the Federal Home Loan Bank (FHLB)? It was established by the Federal Home Loan Banking Act of 1932 as a corporation to support