Marathon Digital: $142 million of cash deposited in Signature Bank has been available
According to reports, Marathon Digital, a Bitcoin miner, said that the company could use the $142 million cash deposit of Signature Bank. The company said in a statement that it could manage these funds and pay invoices in the normal course of business. Marathon also confirmed that the company has no direct business relationship with Silicon Valley Bank. Last week, Marathon said that he had repaid the term loan of Silvergate Bank and ended the credit arrangement with the bank. According to the previous news, the US federal banking regulator has promised to return all deposits of Silicon Valley Bank and Signature Bank customers. （The Block）
Interpretation of this information:
Bitcoin miner Marathon Digital has announced that it could make use of a $142 million cash deposit from Signature Bank, stating that it could manage these funds and pay invoices through normal business operations. The company also confirmed that it has no direct business relationship with Silicon Valley Bank. Last week, Marathon revealed that it had repaid a term loan from Silvergate Bank and ended its credit arrangement with the lender. The US federal banking regulator has pledged to return all deposits from customers of Silicon Valley Bank and Signature Bank.
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