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The post Senators Criticize Lummis & Bankers Blaming Crypto & Making Millions appeared first on Coinpedia Fintech News
During a Senate banking committee hearing on May 16, former Signature Bank executive Scott Shay was criticized by Senator Synthia Lummis. Shay blamed the bank’s collapse on cryptocurrency while benefiting from hefty bonuses and stocks. Shay admitted that the bank accepted digital asset deposits in 2018 but reduced them in 2022 due to market volatility. Lummis accused Shay of shifting blame, which he denied during the hearing.
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