Tether denies any exposure to the now-collapsed Signature Bank following a Bloomberg report. signaturebank StableCoin
alleged exposure between stablecoin provider Tether and the now-collapsed Signature Bank, rumors began to circulate regarding the involvement between the two companies.
However Tether immediately reached out to clarify the claims made in the original article. In an email sent to Cointelegraph among other outlets, Tether gave an official response to the situation in which it said it wants to “unequivocally re-iterate that it has no exposure to Silvergate, Silicon Valley Bank and Signature Bank.”
The stablecoin issuer went on to highlight a section of the article that pointed out no issue of a collaboration between Tether and Signature Bank, and that it “failed” to explain that there was no account set up.Initial claims in the article said that Tether was gaining access to the United States banking system through Signature byvia Signature’s Signet to its Bahamian partner Capital Union Bank.
These claims from Bloomberg surfaced despite the fact that Tether chief technology officer Paolo Ardoino took to Twitter on March 12 to clarify that to Signature Bank. On March 2 and 10 he tweeted that the company had no exposure to Silvergate and Silicon Valley Bank , respectively.
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