Crypto's Unlikely Hero: Small-Town Bank Shakes Up Industry, Fills Silvergate Void
Portfolio Pulse from Murtuza Merchant
Customers Bancorp Inc. has become a significant ally for the cryptocurrency industry, partnering with numerous digital asset firms. The bank has become one of the few remaining facilitators of dollar transactions for crypto businesses. Despite being the 81st-largest U.S. bank by assets, Customers Bank now finds itself at the forefront of an industry that is under regulatory scrutiny. The bank's appeal to crypto businesses increased when it avoided the industry's biggest crisis of the past year: the collapse of Sam Bankman-Fried’s FTX exchange.
July 18, 2023 | 2:28 pm
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POSITIVE IMPACT
Customers Bancorp Inc. has become a significant ally for the cryptocurrency industry, which could potentially impact the price of Bitcoin.
Customers Bancorp's increased involvement in the crypto sector could potentially impact the price of Bitcoin, as it provides a level of stability and reliability to the industry.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Customers Bancorp Inc. continues to do business with some of the industry's biggest names, including Coinbase Global Inc.
Customers Bancorp's partnership with Coinbase Global Inc. could potentially increase the latter's stability and reliability in the eyes of investors.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Customers Bancorp Inc. has become a significant ally for the cryptocurrency industry, partnering with numerous digital asset firms. This could potentially attract additional regulatory attention.
Customers Bancorp's increased involvement in the crypto sector could attract additional regulatory attention. However, the bank believes it has measures in place to manage risk, which could potentially increase its appeal to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Customers Bancorp Inc. avoided the industry's biggest crisis of the past year: the collapse of Sam Bankman-Fried’s FTX exchange. This could potentially impact the price of FTT.
Customers Bancorp's avoidance of the FTX exchange collapse could potentially impact the price of FTT, as it provides a level of stability and reliability to the industry.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50
POSITIVE IMPACT
Customers Bancorp Inc. continues to do business with some of the industry's biggest names, including Circle Internet Financial, the issuer of USDC.
Customers Bancorp's partnership with Circle Internet Financial could potentially increase the latter's stability and reliability in the eyes of investors, potentially impacting the price of USDC.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 50