But I just wanted to start with you and be clear that the targeting of the industry not only affected your company, but it affected Signature Bank. Arnie Frank's portrait's right up there, and he was on the board of Signature Bank. He Arnie Frank said there was no solvency issue [with Signature Bank]. The problem was they're banking crypto. Did the improper seizure of Signature bank scare the industry? Yes, Congressman. The industry was not only scared, they were terrified. Because that was a bank that was meeting its customer requirements, fulfilling every regulatory obligation. (01:28–01:34)
CLAIM
Asserts that Signature Bank's issue was related to banking crypto, not solvency.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
