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)
@nic__carter they don't really have IP to sell anyway...Signature used a 3rd party provider for the Signet platform...
@Marketwhaat Right, it was built by Tassat, and the real value is in the actual network, which can't exist now due to the FDIC's prohibitions, but it's regardless really odd that Gruenberg dithered on the fate of SigNet like that
@nic__carter @Marketwhaat Correct. And that same technology from Tassat is being used by other banks today, e.g., Customers Bank. Signature's digital asset group business and Signet are not the same thing.