The Wall Street Journal said that the “Binance” platform for cryptocurrency trading is facing difficulties in agreeing with a bank in the United States to conduct its transactions, after the recent collapse of a number of banks.
She added that her clients were depositing their money in Signature and Silvergate banks, but the collapse of the two banks caused difficulties for the cryptocurrency platform.
And the newspaper added that “Binance” uses banks as an intermediary to deposit customer funds, which makes sending or transferring these funds difficult and slow. The platform expanded to find alternative banks, but concerns about regulatory risks made these banks reluctant to deal with them.
And mounting concerns about liquidity in the US banking sector, which threatens to expand the area of troubled banks. The regulatory authorities adopted many measures to reassure investors and small depositors, to spare one of the most important economic sectors in the country a financial crisis.
These are the most prominent indicators regarding the US banking sector
- 4,630 banks: the number of commercial banks in the United States.
- Two million people: the number of workers in the sector.
- $22 trillion: the total assets of the sector.
- 50% of the market: controlled by the 10 largest banks in the country.
- $279 billion: net profit.
- $11 trillion: total loans.
- $19 trillion: total deposits.
