Metropolitan Commercial Bank [said they'd be getting out of crypto](https://www.businesswire.com/news/home/20230109005186/en/) back in January. They said specifically that they'd be closing the accounts of crypto businesses: >MCB is closing out its relationships with these clients in an orderly fashion and expects that process to be completed during 2023. Why did it take Bitpay four months to admit this to the cardholders?
US Bank Stock This Year 😵💫: 1. HomeStreet, $HMST: -75% 2. PacWest, $PACW: -71% 3. Metropolitan Bank, $MCB: -64% 4. Zions Bank, $ZION: -51% 5. Western Alliance, $WAL: -47% 6. KeyCorp, $KEY: -45% 7. HarborOne, $HONE: -39% 8. Valley National, $VLY: -35% 9. Truist, $TFC: -33% 10. Citizens Financial, $CFG: -32% The entire US banking sector has now erased nearly $2 trillion in market cap since January 1st.
US Regional Bank Stocks Today: 1. PacWest, $PACW: -30% 2. Western Alliance, $WAL: -25% 3. Metropolitan Bank, $MCB: -21% 4. HomeStreet, $HMST: -15% 5. Zions Bank, $ZION: -10% 6. KeyCorp, $KEY: -7% 7. HarborOne, $HONE: -6% 8. Citizens Financial, $CFG: -5%
tldr; Metropolitan Bank Holding (MCB), one of the earliest banks to delve into digital assets, says it’s closing out the part of its business that catered to crypto firms. For Bitcoin and other digital assets to have any chance of becoming mainstream, banks will have to be on board. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
> Metropolitan Bank Holding (ticker: MCB), one of the earliest banks to delve into digital assets, says it’s closing out the part of its business that catered to crypto firms. The problem, in a nutshell, is that for Bitcoin and other digital assets to have any chance of becoming mainstream, banks—with their access to deep sources of liquidity and experience in facilitating payments—will have to be on board. In its announcement early Monday, the company, which is the parent of Metropolitan Commercial Bank, cited recent industry developments and the regulatory environment for the move. I’m not too worried, if we reached ATH without banks before, we can do it again. They’ll have to join in eventually
Yes, but the MCB has to be there. If it is 1k, then it should only be 0.5eth together with 120 MCB, but someone he put in 35k mcb and took out 35k mcb but profited from it enough to get 93eth in profit? Feels like the bot actually lost funds when looking at the 2 transactions, or something is missing in the trading history of that pair.
actually it wasn't spell, but MCB? https://etherscan.io/tx/0x9bf42490a78727444047038b31522eff8c60fde0ae6eefa9b2f5dbba65a96289 [https://etherscan.io/tx/0x35ec870912db36ec935aeeb9a3dacdc90158c288428290cf43a77a9ffe788279](https://etherscan.io/tx/0x35ec870912db36ec935aeeb9a3dacdc90158c288428290cf43a77a9ffe788279) Don't get how the trader was able to drop the price so much on uniswap V2, making MCB worthless and transfer for more profit. As he was the only trade in a couple days already. Seems something to do with 2 trades happening at the same time, a bug in uniswap?
​ Then, it swapped 35,702 MCB tokens for 234,881 SPELL tokens on uniswap V2. Finally, swapped 234,881 SPELL tokens for 96.12 Ether on Sushiswap. So, MEV bot, through this arbitrage trading made a profit of 95.5 Ether. But, as it is a bot, and arbitrage trading has to be done in an instant, he gave 93 Ether as gas fees. So, net profit of 2.5 Ether (after gas fees)
Well it’s multiple transactions carried out at once. It goes from 0.245 WETH > MCB, which is then transferred to another address and converted to SPELL, which is again transferred and converted into 96 WETH. They then pay 93 ETH in fees so they turned 0.245 ETH into 3 ETH. It looks like a normal arbitrage bot to me.
Wrong. FDIC doesn’t care what anyone does with their account. It’s up to customers to sue provider who commingles their funds, if individual custody is promised. FDIC has no legal standing to sue and couldn’t even if it wanted to. it is troubling that cdc has note even said that customer funds are not comminglesd with their and are in separate custody (even if in an omnibus account). CDC hasn’t even confirmed that minimum criteria are met and customer funds are subject to fdic insurance in case of MCB failure. So it’s likely not so. And CDC’s McB is the bank of voyager and blockfi and many other failed companies, so it is extra wobbly at the time.
tldr; The New York Bankruptcy Court has given Voyager Digital permission to return $270 million in customer cash held with Metropolitan Commercial Bank (MCB). Voyager is estimated to have over 100,000 creditors and between $1 billion and $10 billion in assets. Last week, the Federal Reserve ordered Voyager to cease making “false and misleading” claims that the government protected its customers’ funds. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*
Here is MCB's statement on their website https://www.mcbankny.com/fdic-coverage-available-to-voyager-customers/ Important excerpt: FDIC insurance coverage is available only to protect against the failure of Metropolitan Commercial Bank. FDIC insurance does not protect against the failure of Voyager, any act or omission of Voyager or its employees, or the loss in value of cryptocurrency or other assets. More information about FDIC coverage is available on the FDIC’s website at www.fdic.gov/deposit
Just cross your fingers when you wire crypto.com money. I wired $ to them over a month ago. Talked to their bank, MCB, and it should've posted a few days later. Here I am 5 weeks in sending crypto.com messages every day for 5 weeks and haven't heard back from a real human yet. Piss poor UI, and even worse customer service.
Funny, cuz mine was approved and processed by MCB (the bank that handles their wires) same day over a month ago and it still hasn't appeared in my account. I still haven't been able to talk to a human about it either. Same story with a friend of mine who wired $3k. No humans working there, apparently.
I disagree. They MOSTLY move together but there I always one or two moving on the momentum, band-wagon. I was into AMP a month ago, FTM after, MCB (MCdex) for 2 weeks. How do I find them? Research, artificial intelligence and others.
For anybody wanting to give it a try. . . . . . I'm just gonna leave this here. . . . "Not MarketCipher A": [https://pastebin.com/nK0dkBG4](https://pastebin.com/nK0dkBG4) "Not MCB": [https://pastebin.com/q0TTmtKE](https://pastebin.com/q0TTmtKE) Colours are different, has some divergence indicators on there too, but it's pretty much all the same otherwise Feel free to tip BTC 😜 38VansAU1EQpxdkzrxyXroyY43FwfPJbQF