Marathon Digital said in a statement that it had access to its funds held at Signature Bank.
Bitcoin miner Marathon Digital said it has access to funds held at Signature Bank as part of treasury management. In addition, the miner said that business is proceeding normally.
Marathon Digital: Things Are Proceeding as Normal
Marathon Digital said it had access to $142 million in cash deposits held by Signature Bank, which was shut down by state regulators on Sunday. The company said in a statement that it had access to funds for treasury management purposes and paid all bills “in the normal course of business”.
Marathon also owns more than 11,000 Bitcoins, which the company believes provides financial optionality that goes beyond the traditional banking system.
Separately, Marathon confirmed that it has no direct business relationship with Silicon Valley Bank, which was shut down by authorities on Friday. US federal bank regulators, Silicon Valley and Signature Bank guaranteed full refunds of customer deposits.
US President Joe Biden reassured American citizens today that the banking system is safe after bankruptcies.
Biden said in his statement:
“Americans can be sure that the banking system is secure. All customers who have deposits in these banks can be assured that they will be protected and have access to their money starting today.”
57541
