FDIC chair Gruenberg lied at least twice in his testimony to Congress today: 1. says SigNet IP has already been sold (false, & they are blocking the sale to interested parties) 2. denies that FDIC supervision is more onerous for banks that service digital asset clients (false)
Gruenberg then contradicted himself later regarding SigNet when Rep. Garbarino asked, saying it was "in the process of being marketed" In reality, SigNet has already received bids from interested banks, but FDIC is refusing to sell
Regarding 2), Rep. Emmer asks "has the FDIC ever communicated implicitly or explicitly to any banks that their supervision will be more onerous in any way if they take on new or maintain existing digital asset clients?" To which Gruenberg says "No." But this is false.
@nic__carter Doesn’t it seem like they want to kill alternatives to FedNow?