Stakeholders Disagree Over the Role of Crypto in Banks’ Collapse

• J.W. Verret faults U.S. lawmakers’ opinions over the collapse of Signature Bank.
• A New York regulator already exonerated crypto on the collapse of Signature Bank.
• Senator Warren demands an explanation from Signature Bank CEO Joseph DePaolo.

J.W. Verret, a professor of corporate and securities law, has disagreed with U.S. Senator Elizabeth Warren over the role of cryptocurrency in the recent collapse of Signature Bank. Verret said Warren’s submission on the issue was inaccurate and held her to more accountability, knowing her capacity as a former financial regulation law professor.

Inaccurate. As a former fin reg law prof she should know better. The Fed models for the stress tests Signature got exempt from favor Treasury holdings, so wouldn’t have helped. NY regulator says crypto played no role in collapse. She’s just making things up. https://t.co/j4aotJ2kNa

— J.W. Verret, JD, CPA/CVA (@JWVerret) March 16, 2023

According to Verret, a New York regulator has already clarified that cryptocurrency played no role in the collapse of Signature Bank. He believes Warren may be making things up to indict the crypto industry.

Senator Warren reportedly wr…

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