Former House Rep blames industry outsiders for associating crypto with bank’s failure By Cointelegraph
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Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank (OTC:), has pointed fingers at certain members of the public in the wake of the bank’s collapse.
In a May 30 hearing before the New York State Senate, Frank said he had “no mea culpas” regarding the failure of Signature, claiming that the bank’s dealings with crypto were “safe and sound” prior to regulators stepping in. The former U.S. lawmaker suggested the bank acted as a facilitator for crypto rather than investing directly in digital assets and that some in the public failed to make this distinction.
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Barney Frank, a former member of the United States House of Representatives and board member of Signature Bank (OTC:), has pointed fingers at certain members of the public in the wake of the bank’s collapse.
In a May 30 hearing before the New York State Senate, Frank said he had “no mea culpas” regarding the failure of Signature, claiming that the bank’s dealings with crypto were “safe and sound” prior to regulators stepping in. The former U.S. lawmaker suggested the bank acted as a facilitator for crypto rather than investing directly in digital assets and that some in the public failed to make this distinction.
Continue Reading on Coin Telegraph
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