Several providers, including BlockFi and Celsius, have filed for bankruptcy in recent months. But this does not necessarily spell gloom and doom for the industry.

The crypto rebound has gained so much speculative vigor that even tokens torpedoed last year by their dependence on the discredited mogul Sam Bankman-Fried have rallied, with some more than doubling this month.

Binance, the world's largest cryptocurrency exchange, said Signature Bank will only handle user transactions of more than $100,000 as the bank decreases its exposure to digital-asset markets.

The implosion of the digital-asset exchange FTX shows that U.S. platforms should face heightened scrutiny from the Commodity Futures Trading Commission before being able to list crypto assets, according to one top official at the regulator.

The crypto lender Genesis Global Holdco LLC is aiming for a relatively quick exit from bankruptcy court after collapsing under the force of a prolonged selloff in digital assets.

Citizens snags exclusive Mastercard deal, Green Dot's e-bill-pay expansion and more in banking news this week.

The digital-asset firm Nexo Capital will pay $45 million in penalties to U.S. federal and state regulators over allegations that it broke securities rules by offering a crypto lending product.

Financial services regulators should treat cryptocurrency trading for what it is — another form of wagering, some experts say. But banks seeking to provide custody and many other services tied to digital assets would face even tighter restrictions under that approach.

Genesis Global Capital, the cryptocurrency lending unit of Digital Currency Group, is laying the groundwork for a bankruptcy filing as soon as this week, according to people with knowledge of the situation.

Digital Currency Group, the struggling crypto empire whose Genesis Global Capital lending unit is trying to stave off bankruptcy, said it's suspending quarterly dividends to preserve cash.

Coinbase Global is halting operations in Japan, less than a month after another major digital-asset exchange, Kraken, announced its withdrawal from the country.

The New York bank reported a 17% drop-off in deposits during the fourth quarter as it sought to reduce its concentration in the digital currency realm. It expects its balance sheet to stabilize in the second half of 2023.

The former tech entrepreneur, "Razzlekhan" rapper and accused cryptocurrency thief Heather Morgan has a new job.

Silvergate Capital Corp. reported a $1 billion loss and said it would offboard some noncore digital-asset customers following a quarter that saw a dramatic draw-down in deposits after the collapse of Sam Bankman-Fried's FTX.

Signature Bank of New York is pulling back from crypto deposits and has increased borrowings from the Federal Home Loan Bank of New York.

Crypto pain deepens, credit union merger is official and more in banking news this week.

Incoming Financial Services Committee Chairman Patrick McHenry has tapped Rep. French Hill, an Arkansas Republican and former banker, to lead a newly established subcommittee on digital assets, technology and inclusion.

Lenders are getting creative as to what to do with the mining machines they accepted as collateral for the some $4 billion in rig-backed loans they underwrote when the rally in bitcoin seemed unstoppable.

Across the U.S. financial industry, a pattern is emerging of small lenders plowing into crypto and a variety of other hot niches, sending their stocks soaring and eventually crashing.

Thieves have become adept at exploiting digital vulnerabilities, conducting heists that resulted in more than $3 billion in losses last year.